id	sid	tid	token	lemma	pos
issue-791	1	1	baltic	baltic	PROPN
issue-791	1	2	journal	journal	PROPN
issue-791	1	3	of	of	ADP
issue-791	1	4	economic	economic	ADJ
issue-791	1	5	studies	study	NOUN
issue-791	1	6	61	61	NUM
issue-791	1	7	vol	vol	NOUN
issue-791	1	8	.	.	PROPN
issue-791	2	1	6	6	NUM
issue-791	2	2	,	,	PUNCT
issue-791	2	3	no	no	INTJ
issue-791	2	4	.	.	NOUN
issue-791	2	5	2	2	NUM
issue-791	2	6	,	,	PUNCT
issue-791	2	7	2020	2020	NUM
issue-791	2	8	corresponding	correspond	VERB
issue-791	2	9	author	author	NOUN
issue-791	2	10	:	:	PUNCT
issue-791	2	11	1	1	NUM
issue-791	2	12	vadym	vadym	PROPN
issue-791	2	13	hetman	hetman	PROPN
issue-791	2	14	kyiv	kyiv	PROPN
issue-791	2	15	national	national	PROPN
issue-791	2	16	economic	economic	PROPN
issue-791	2	17	university	university	PROPN
issue-791	2	18	,	,	PUNCT
issue-791	2	19	ukraine	ukraine	NOUN
issue-791	2	20	.	.	PUNCT
issue-791	3	1	e	e	X
issue-791	3	2	-	-	NOUN
issue-791	3	3	mail	mail	NOUN
issue-791	3	4	:	:	PUNCT
issue-791	3	5	corfinua@ukr.net	corfinua@ukr.net	PROPN
issue-791	3	6	orcid	orcid	NOUN
issue-791	3	7	:	:	PUNCT
issue-791	3	8	https://orcid.org/0000-0001-8808-1383	https://orcid.org/0000-0001-8808-1383	PROPN
issue-791	3	9	2	2	NUM
issue-791	3	10	vadym	vadym	PROPN
issue-791	3	11	hetman	hetman	PROPN
issue-791	3	12	kyiv	kyiv	PROPN
issue-791	3	13	national	national	PROPN
issue-791	3	14	economic	economic	PROPN
issue-791	3	15	university	university	PROPN
issue-791	3	16	,	,	PUNCT
issue-791	3	17	ukraine	ukraine	NOUN
issue-791	3	18	.	.	PUNCT
issue-791	4	1	e	e	X
issue-791	4	2	-	-	NOUN
issue-791	4	3	mail	mail	NOUN
issue-791	4	4	:	:	PUNCT
issue-791	4	5	nataliia.babiak@kneu.edu.ua	nataliia.babiak@kneu.edu.ua	PROPN
issue-791	4	6	orcid	orcid	PROPN
issue-791	4	7	:	:	PUNCT
issue-791	4	8	https://orcid.org/0000-0002-3210-4045	https://orcid.org/0000-0002-3210-4045	PROPN
issue-791	4	9	doi	doi	NOUN
issue-791	4	10	:	:	PUNCT
issue-791	4	11	https://doi.org/10.30525/2256-0742/2020-6-2-61-68	https://doi.org/10.30525/2256-0742/2020-6-2-61-68	VERB
issue-791	4	12	causality	causality	NOUN
issue-791	4	13	of	of	ADP
issue-791	4	14	risks	risk	NOUN
issue-791	4	15	,	,	PUNCT
issue-791	4	16	cost	cost	NOUN
issue-791	4	17	of	of	ADP
issue-791	4	18	equity	equity	NOUN
issue-791	4	19	and	and	CCONJ
issue-791	4	20	shading	shading	NOUN
issue-791	4	21	of	of	ADP
issue-791	4	22	the	the	DET
issue-791	4	23	enterprise	enterprise	NOUN
issue-791	4	24	income	income	NOUN
issue-791	4	25	oleh	oleh	PROPN
issue-791	4	26	tereshchenko1	tereshchenko1	PROPN
issue-791	4	27	,	,	PUNCT
issue-791	4	28	nataliia	nataliia	VERB
issue-791	4	29	babiak2	babiak2	PROPN
issue-791	4	30	abstract	abstract	ADJ
issue-791	4	31	.	.	PUNCT
issue-791	5	1	the	the	DET
issue-791	5	2	scandals	scandal	NOUN
issue-791	5	3	with	with	ADP
issue-791	5	4	concealment	concealment	NOUN
issue-791	5	5	of	of	ADP
issue-791	5	6	income	income	NOUN
issue-791	5	7	by	by	ADP
issue-791	5	8	large	large	ADJ
issue-791	5	9	companies	company	NOUN
issue-791	5	10	in	in	ADP
issue-791	5	11	tax	tax	NOUN
issue-791	5	12	havens	haven	NOUN
issue-791	5	13	,	,	PUNCT
issue-791	5	14	the	the	DET
issue-791	5	15	unresolved	unresolved	ADJ
issue-791	5	16	problem	problem	NOUN
issue-791	5	17	of	of	ADP
issue-791	5	18	estimating	estimate	VERB
issue-791	5	19	the	the	DET
issue-791	5	20	size	size	NOUN
issue-791	5	21	of	of	ADP
issue-791	5	22	the	the	DET
issue-791	5	23	shadow	shadow	NOUN
issue-791	5	24	economy	economy	NOUN
issue-791	5	25	,	,	PUNCT
issue-791	5	26	and	and	CCONJ
issue-791	5	27	its	its	PRON
issue-791	5	28	high	high	ADJ
issue-791	5	29	share	share	NOUN
issue-791	5	30	in	in	ADP
issue-791	5	31	emerging	emerge	VERB
issue-791	5	32	markets	market	NOUN
issue-791	5	33	(	(	PUNCT
issue-791	5	34	em	em	PRON
issue-791	5	35	)	)	PUNCT
issue-791	5	36	make	make	VERB
issue-791	5	37	issues	issue	NOUN
issue-791	5	38	of	of	ADP
issue-791	5	39	the	the	DET
issue-791	5	40	methodology	methodology	NOUN
issue-791	5	41	for	for	ADP
issue-791	5	42	calculating	calculate	VERB
issue-791	5	43	the	the	DET
issue-791	5	44	shadow	shadow	NOUN
issue-791	5	45	income	income	NOUN
issue-791	5	46	of	of	ADP
issue-791	5	47	enterprises	enterprise	NOUN
issue-791	5	48	relevant	relevant	ADJ
issue-791	5	49	for	for	ADP
issue-791	5	50	today	today	NOUN
issue-791	5	51	.	.	PUNCT
issue-791	6	1	the	the	DET
issue-791	6	2	aim	aim	NOUN
issue-791	6	3	of	of	ADP
issue-791	6	4	the	the	DET
issue-791	6	5	study	study	NOUN
issue-791	6	6	is	be	AUX
issue-791	6	7	to	to	PART
issue-791	6	8	substantiate	substantiate	VERB
issue-791	6	9	the	the	DET
issue-791	6	10	method	method	NOUN
issue-791	6	11	for	for	ADP
issue-791	6	12	calculating	calculate	VERB
issue-791	6	13	the	the	DET
issue-791	6	14	scope	scope	NOUN
issue-791	6	15	of	of	ADP
issue-791	6	16	shadowing	shadow	VERB
issue-791	6	17	of	of	ADP
issue-791	6	18	legal	legal	ADJ
issue-791	6	19	business	business	NOUN
issue-791	6	20	income	income	NOUN
issue-791	6	21	based	base	VERB
issue-791	6	22	on	on	ADP
issue-791	6	23	the	the	DET
issue-791	6	24	method	method	NOUN
issue-791	6	25	of	of	ADP
issue-791	6	26	shadow	shadow	NOUN
issue-791	6	27	rates	rate	NOUN
issue-791	6	28	of	of	ADP
issue-791	6	29	costs	cost	NOUN
issue-791	6	30	on	on	ADP
issue-791	6	31	invested	invest	VERB
issue-791	6	32	(	(	PUNCT
issue-791	6	33	equity	equity	NOUN
issue-791	6	34	)	)	PUNCT
issue-791	6	35	capital	capital	NOUN
issue-791	6	36	.	.	PUNCT
issue-791	7	1	the	the	DET
issue-791	7	2	authors	author	NOUN
issue-791	7	3	construct	construct	VERB
issue-791	7	4	a	a	DET
issue-791	7	5	two	two	NUM
issue-791	7	6	-	-	PUNCT
issue-791	7	7	factor	factor	NOUN
issue-791	7	8	linear	linear	PROPN
issue-791	7	9	regression	regression	NOUN
issue-791	7	10	,	,	PUNCT
issue-791	7	11	which	which	PRON
issue-791	7	12	enables	enable	VERB
issue-791	7	13	to	to	PART
issue-791	7	14	test	test	VERB
issue-791	7	15	the	the	DET
issue-791	7	16	hypothesis	hypothesis	NOUN
issue-791	7	17	of	of	ADP
issue-791	7	18	the	the	DET
issue-791	7	19	effect	effect	NOUN
issue-791	7	20	of	of	ADP
issue-791	7	21	the	the	DET
issue-791	7	22	expected	expect	VERB
issue-791	7	23	rate	rate	NOUN
issue-791	7	24	of	of	ADP
issue-791	7	25	return	return	NOUN
issue-791	7	26	and	and	CCONJ
issue-791	7	27	return	return	VERB
issue-791	7	28	on	on	ADP
issue-791	7	29	equity	equity	NOUN
issue-791	7	30	at	at	ADP
issue-791	7	31	the	the	DET
issue-791	7	32	shadow	shadow	NOUN
issue-791	7	33	economy	economy	NOUN
issue-791	7	34	level	level	NOUN
issue-791	7	35	.	.	PUNCT
issue-791	8	1	the	the	DET
issue-791	8	2	regression	regression	NOUN
issue-791	8	3	analysis	analysis	NOUN
issue-791	8	4	confirms	confirm	VERB
issue-791	8	5	a	a	DET
issue-791	8	6	negative	negative	ADJ
issue-791	8	7	correlation	correlation	NOUN
issue-791	8	8	between	between	ADP
issue-791	8	9	roe	roe	NOUN
issue-791	8	10	and	and	CCONJ
issue-791	8	11	the	the	DET
issue-791	8	12	shadow	shadow	NOUN
issue-791	8	13	economy	economy	NOUN
issue-791	8	14	level	level	NOUN
issue-791	8	15	.	.	PUNCT
issue-791	9	1	there	there	PRON
issue-791	9	2	is	be	VERB
issue-791	9	3	a	a	DET
issue-791	9	4	positive	positive	ADJ
issue-791	9	5	correlation	correlation	NOUN
issue-791	9	6	between	between	ADP
issue-791	9	7	the	the	DET
issue-791	9	8	risks	risk	NOUN
issue-791	9	9	of	of	ADP
issue-791	9	10	investing	invest	VERB
issue-791	9	11	in	in	ADP
issue-791	9	12	equity	equity	NOUN
issue-791	9	13	,	,	PUNCT
issue-791	9	14	which	which	PRON
issue-791	9	15	are	be	AUX
issue-791	9	16	reflected	reflect	VERB
issue-791	9	17	in	in	ADP
issue-791	9	18	the	the	DET
issue-791	9	19	expected	expect	VERB
issue-791	9	20	rate	rate	NOUN
issue-791	9	21	of	of	ADP
issue-791	9	22	return	return	NOUN
issue-791	9	23	on	on	ADP
issue-791	9	24	capital	capital	NOUN
issue-791	9	25	,	,	PUNCT
issue-791	9	26	and	and	CCONJ
issue-791	9	27	the	the	DET
issue-791	9	28	total	total	ADJ
issue-791	9	29	income	income	NOUN
issue-791	9	30	shadowing	shadowing	NOUN
issue-791	9	31	.	.	PUNCT
issue-791	10	1	the	the	DET
issue-791	10	2	regression	regression	NOUN
issue-791	10	3	-	-	PUNCT
issue-791	10	4	correlation	correlation	NOUN
issue-791	10	5	analysis	analysis	NOUN
issue-791	10	6	of	of	ADP
issue-791	10	7	the	the	DET
issue-791	10	8	dependence	dependence	NOUN
issue-791	10	9	of	of	ADP
issue-791	10	10	the	the	DET
issue-791	10	11	shadow	shadow	NOUN
issue-791	10	12	income	income	NOUN
issue-791	10	13	of	of	ADP
issue-791	10	14	enterprises	enterprise	NOUN
issue-791	10	15	on	on	ADP
issue-791	10	16	these	these	DET
issue-791	10	17	factors	factor	NOUN
issue-791	10	18	confirms	confirm	VERB
issue-791	10	19	a	a	DET
issue-791	10	20	similar	similar	ADJ
issue-791	10	21	pattern	pattern	NOUN
issue-791	10	22	.	.	PUNCT
issue-791	11	1	comparison	comparison	NOUN
issue-791	11	2	of	of	ADP
issue-791	11	3	the	the	DET
issue-791	11	4	obtained	obtain	VERB
issue-791	11	5	values	value	NOUN
issue-791	11	6	of	of	ADP
issue-791	11	7	the	the	DET
issue-791	11	8	shadow	shadow	NOUN
issue-791	11	9	income	income	NOUN
issue-791	11	10	of	of	ADP
issue-791	11	11	enterprises	enterprise	NOUN
issue-791	11	12	in	in	ADP
issue-791	11	13	ukraine	ukraine	NOUN
issue-791	11	14	with	with	ADP
issue-791	11	15	alternative	alternative	ADJ
issue-791	11	16	estimates	estimate	NOUN
issue-791	11	17	of	of	ADP
issue-791	11	18	the	the	DET
issue-791	11	19	shadow	shadow	NOUN
issue-791	11	20	economy	economy	NOUN
issue-791	11	21	reveals	reveal	VERB
issue-791	11	22	a	a	DET
issue-791	11	23	higher	high	ADJ
issue-791	11	24	sensitivity	sensitivity	NOUN
issue-791	11	25	of	of	ADP
issue-791	11	26	the	the	DET
issue-791	11	27	proposed	propose	VERB
issue-791	11	28	method	method	NOUN
issue-791	11	29	to	to	ADP
issue-791	11	30	changes	change	NOUN
issue-791	11	31	in	in	ADP
issue-791	11	32	country	country	NOUN
issue-791	11	33	risks	risk	NOUN
issue-791	11	34	,	,	PUNCT
issue-791	11	35	as	as	ADV
issue-791	11	36	well	well	ADV
issue-791	11	37	as	as	ADP
issue-791	11	38	to	to	ADP
issue-791	11	39	decisions	decision	NOUN
issue-791	11	40	aimed	aim	VERB
issue-791	11	41	at	at	ADP
issue-791	11	42	improving	improve	VERB
issue-791	11	43	business	business	NOUN
issue-791	11	44	conditions	condition	NOUN
issue-791	11	45	.	.	PUNCT
issue-791	12	1	it	it	PRON
issue-791	12	2	is	be	AUX
issue-791	12	3	confirmed	confirm	VERB
issue-791	12	4	that	that	SCONJ
issue-791	12	5	the	the	DET
issue-791	12	6	exacerbation	exacerbation	NOUN
issue-791	12	7	of	of	ADP
issue-791	12	8	risks	risk	NOUN
issue-791	12	9	automatically	automatically	ADV
issue-791	12	10	reflects	reflect	VERB
issue-791	12	11	on	on	ADP
issue-791	12	12	the	the	DET
issue-791	12	13	expectations	expectation	NOUN
issue-791	12	14	regarding	regard	VERB
issue-791	12	15	the	the	DET
issue-791	12	16	return	return	NOUN
issue-791	12	17	on	on	ADP
issue-791	12	18	investment	investment	NOUN
issue-791	12	19	and	and	CCONJ
issue-791	12	20	on	on	ADP
issue-791	12	21	the	the	DET
issue-791	12	22	official	official	ADJ
issue-791	12	23	declaration	declaration	NOUN
issue-791	12	24	of	of	ADP
issue-791	12	25	income	income	NOUN
issue-791	12	26	.	.	PUNCT
issue-791	13	1	therefore	therefore	ADV
issue-791	13	2	,	,	PUNCT
issue-791	13	3	the	the	DET
issue-791	13	4	shadow	shadow	NOUN
issue-791	13	5	economy	economy	NOUN
issue-791	13	6	reduction	reduction	NOUN
issue-791	13	7	is	be	AUX
issue-791	13	8	related	relate	VERB
issue-791	13	9	directly	directly	ADV
issue-791	13	10	to	to	ADP
issue-791	13	11	a	a	DET
issue-791	13	12	set	set	NOUN
issue-791	13	13	of	of	ADP
issue-791	13	14	measures	measure	NOUN
issue-791	13	15	aimed	aim	VERB
issue-791	13	16	at	at	ADP
issue-791	13	17	minimizing	minimize	VERB
issue-791	13	18	the	the	DET
issue-791	13	19	risks	risk	NOUN
issue-791	13	20	of	of	ADP
issue-791	13	21	business	business	NOUN
issue-791	13	22	activities	activity	NOUN
issue-791	13	23	.	.	PUNCT
issue-791	14	1	key	key	ADJ
issue-791	14	2	words	word	NOUN
issue-791	14	3	:	:	PUNCT
issue-791	14	4	shadow	shadow	NOUN
issue-791	14	5	income	income	NOUN
issue-791	14	6	,	,	PUNCT
issue-791	14	7	cost	cost	NOUN
issue-791	14	8	of	of	ADP
issue-791	14	9	equity	equity	NOUN
issue-791	14	10	,	,	PUNCT
issue-791	14	11	shadow	shadow	NOUN
issue-791	14	12	rate	rate	NOUN
issue-791	14	13	of	of	ADP
issue-791	14	14	cost	cost	NOUN
issue-791	14	15	of	of	ADP
issue-791	14	16	equity	equity	NOUN
issue-791	14	17	,	,	PUNCT
issue-791	14	18	risk	risk	NOUN
issue-791	14	19	premium	premium	NOUN
issue-791	14	20	,	,	PUNCT
issue-791	14	21	interest	interest	NOUN
issue-791	14	22	rates	rate	NOUN
issue-791	14	23	,	,	PUNCT
issue-791	14	24	return	return	VERB
issue-791	14	25	on	on	ADP
issue-791	14	26	equity	equity	NOUN
issue-791	14	27	.	.	PUNCT
issue-791	15	1	jel	jel	PROPN
issue-791	15	2	classification	classification	NOUN
issue-791	15	3	:	:	PUNCT
issue-791	15	4	d24	d24	NOUN
issue-791	15	5	,	,	PUNCT
issue-791	15	6	d81	d81	PROPN
issue-791	15	7	,	,	PUNCT
issue-791	15	8	e26	e26	PROPN
issue-791	15	9	1	1	NUM
issue-791	15	10	.	.	PUNCT
issue-791	16	1	introduction	introduction	NOUN
issue-791	16	2	the	the	DET
issue-791	16	3	high	high	ADJ
issue-791	16	4	-	-	PUNCT
issue-791	16	5	profile	profile	NOUN
issue-791	16	6	scandals	scandal	NOUN
issue-791	16	7	surrounding	surround	VERB
issue-791	16	8	the	the	DET
issue-791	16	9	concealment	concealment	NOUN
issue-791	16	10	of	of	ADP
issue-791	16	11	enterprises	enterprise	NOUN
issue-791	16	12	and	and	CCONJ
issue-791	16	13	their	their	PRON
issue-791	16	14	owners	owner	NOUN
issue-791	16	15	'	'	PART
issue-791	16	16	incomes	income	NOUN
issue-791	16	17	are	be	AUX
issue-791	16	18	a	a	DET
issue-791	16	19	constant	constant	ADJ
issue-791	16	20	challenge	challenge	NOUN
issue-791	16	21	for	for	ADP
issue-791	16	22	researchers	researcher	NOUN
issue-791	16	23	of	of	ADP
issue-791	16	24	the	the	DET
issue-791	16	25	shadow	shadow	NOUN
issue-791	16	26	economy	economy	NOUN
issue-791	16	27	issues	issue	NOUN
issue-791	16	28	.	.	PUNCT
issue-791	17	1	for	for	ADP
issue-791	17	2	example	example	NOUN
issue-791	17	3	,	,	PUNCT
issue-791	17	4	the	the	DET
issue-791	17	5	so	so	ADV
issue-791	17	6	-	-	PUNCT
issue-791	17	7	called	call	VERB
issue-791	17	8	panama	panama	PROPN
issue-791	17	9	papers	paper	NOUN
issue-791	17	10	or	or	CCONJ
issue-791	17	11	the	the	DET
issue-791	17	12	largescale	largescale	NOUN
issue-791	17	13	tax	tax	NOUN
issue-791	17	14	evasion	evasion	NOUN
issue-791	17	15	of	of	ADP
issue-791	17	16	a	a	DET
issue-791	17	17	number	number	NOUN
issue-791	17	18	of	of	ADP
issue-791	17	19	well	well	ADV
issue-791	17	20	-	-	PUNCT
issue-791	17	21	known	know	VERB
issue-791	17	22	companies	company	NOUN
issue-791	17	23	in	in	ADP
issue-791	17	24	the	the	DET
issue-791	17	25	world	world	NOUN
issue-791	17	26	(	(	PUNCT
issue-791	17	27	halliburton	halliburton	PROPN
issue-791	17	28	,	,	PUNCT
issue-791	17	29	netflix	netflix	PROPN
issue-791	17	30	,	,	PUNCT
issue-791	17	31	ibm	ibm	PROPN
issue-791	17	32	,	,	PUNCT
issue-791	17	33	delta	delta	NOUN
issue-791	17	34	air	air	NOUN
issue-791	17	35	lines	line	NOUN
issue-791	17	36	,	,	PUNCT
issue-791	17	37	chevron	chevron	NOUN
issue-791	17	38	,	,	PUNCT
issue-791	17	39	general	general	ADJ
issue-791	17	40	motors	motor	NOUN
issue-791	17	41	)	)	PUNCT
issue-791	17	42	.	.	PUNCT
issue-791	18	1	in	in	ADP
issue-791	18	2	2018	2018	NUM
issue-791	18	3	,	,	PUNCT
issue-791	18	4	60	60	NUM
issue-791	18	5	fortune	fortune	NOUN
issue-791	18	6	500	500	NUM
issue-791	18	7	companies	company	NOUN
issue-791	18	8	were	be	AUX
issue-791	18	9	not	not	PART
issue-791	18	10	subject	subject	ADJ
issue-791	18	11	to	to	ADP
issue-791	18	12	corporate	corporate	ADJ
issue-791	18	13	taxation	taxation	NOUN
issue-791	18	14	,	,	PUNCT
issue-791	18	15	with	with	ADP
issue-791	18	16	a	a	DET
issue-791	18	17	total	total	ADJ
issue-791	18	18	revenue	revenue	NOUN
issue-791	18	19	of	of	ADP
issue-791	18	20	approximately	approximately	ADV
issue-791	18	21	80	80	NUM
issue-791	18	22	billion	billion	NUM
issue-791	18	23	usd	usd	NOUN
issue-791	18	24	.	.	PUNCT
issue-791	19	1	quite	quite	ADV
issue-791	19	2	eloquent	eloquent	ADJ
issue-791	19	3	is	be	AUX
issue-791	19	4	the	the	DET
issue-791	19	5	situation	situation	NOUN
issue-791	19	6	with	with	ADP
issue-791	19	7	amazon	amazon	NOUN
issue-791	19	8	,	,	PUNCT
issue-791	19	9	which	which	PRON
issue-791	19	10	has	have	AUX
issue-791	19	11	generated	generate	VERB
issue-791	19	12	10	10	NUM
issue-791	19	13	billion	billion	NUM
issue-791	19	14	usd	usd	NOUN
issue-791	19	15	income	income	NOUN
issue-791	19	16	,	,	PUNCT
issue-791	19	17	and	and	CCONJ
issue-791	19	18	then	then	ADV
issue-791	19	19	claimed	claim	VERB
issue-791	19	20	tax	tax	NOUN
issue-791	19	21	rebate	rebate	NOUN
issue-791	19	22	(	(	PUNCT
issue-791	19	23	gardner	gardner	NOUN
issue-791	19	24	,	,	PUNCT
issue-791	19	25	wamhoff	wamhoff	NOUN
issue-791	19	26	,	,	PUNCT
issue-791	19	27	martellotta	martellotta	NOUN
issue-791	19	28	&	&	CCONJ
issue-791	19	29	roque	roque	PROPN
issue-791	19	30	,	,	PUNCT
issue-791	19	31	2019	2019	NUM
issue-791	19	32	)	)	PUNCT
issue-791	19	33	.	.	PUNCT
issue-791	20	1	nine	nine	NUM
issue-791	20	2	out	out	ADP
issue-791	20	3	of	of	ADP
issue-791	20	4	ten	ten	NUM
issue-791	20	5	global	global	ADJ
issue-791	20	6	companies	company	NOUN
issue-791	20	7	own	own	VERB
issue-791	20	8	at	at	ADV
issue-791	20	9	least	least	ADV
issue-791	20	10	one	one	NUM
issue-791	20	11	subsidiary	subsidiary	NOUN
issue-791	20	12	registered	register	VERB
issue-791	20	13	in	in	ADP
issue-791	20	14	tax	tax	NOUN
issue-791	20	15	havens	haven	NOUN
issue-791	20	16	.	.	PUNCT
issue-791	21	1	developing	develop	VERB
issue-791	21	2	countries	country	NOUN
issue-791	21	3	lose	lose	VERB
issue-791	21	4	100	100	NUM
issue-791	21	5	billion	billion	NUM
issue-791	21	6	usd	usd	NOUN
issue-791	21	7	annually	annually	ADV
issue-791	21	8	as	as	ADP
issue-791	21	9	a	a	DET
issue-791	21	10	result	result	NOUN
issue-791	21	11	of	of	ADP
issue-791	21	12	tax	tax	NOUN
issue-791	21	13	evasion	evasion	NOUN
issue-791	21	14	in	in	ADP
issue-791	21	15	the	the	DET
issue-791	21	16	usa	usa	PROPN
issue-791	21	17	(	(	PUNCT
issue-791	21	18	oxfam	oxfam	PROPN
issue-791	21	19	deutschland	deutschland	NOUN
issue-791	21	20	,	,	PUNCT
issue-791	21	21	2019	2019	NUM
issue-791	21	22	)	)	PUNCT
issue-791	21	23	.	.	PUNCT
issue-791	22	1	according	accord	VERB
issue-791	22	2	to	to	ADP
issue-791	22	3	j.	j.	PROPN
issue-791	22	4	e.	e.	PROPN
issue-791	22	5	stiglitz	stiglitz	PROPN
issue-791	22	6	and	and	CCONJ
issue-791	22	7	m.	m.	NOUN
issue-791	22	8	pieth	pieth	NOUN
issue-791	22	9	(	(	PUNCT
issue-791	22	10	2016	2016	NUM
issue-791	22	11	)	)	PUNCT
issue-791	22	12	,	,	PUNCT
issue-791	22	13	tax	tax	NOUN
issue-791	22	14	havens	haven	NOUN
issue-791	22	15	contribute	contribute	VERB
issue-791	22	16	to	to	ADP
issue-791	22	17	the	the	DET
issue-791	22	18	development	development	NOUN
issue-791	22	19	of	of	ADP
issue-791	22	20	the	the	DET
issue-791	22	21	shadow	shadow	NOUN
issue-791	22	22	side	side	NOUN
issue-791	22	23	of	of	ADP
issue-791	22	24	globalization	globalization	NOUN
issue-791	22	25	.	.	PUNCT
issue-791	23	1	therefore	therefore	ADV
issue-791	23	2	,	,	PUNCT
issue-791	23	3	the	the	DET
issue-791	23	4	world	world	NOUN
issue-791	23	5	community	community	NOUN
issue-791	23	6	has	have	VERB
issue-791	23	7	the	the	DET
issue-791	23	8	right	right	NOUN
issue-791	23	9	to	to	PART
issue-791	23	10	recognize	recognize	VERB
issue-791	23	11	them	they	PRON
issue-791	23	12	as	as	ADP
issue-791	23	13	evil	evil	NOUN
issue-791	23	14	that	that	PRON
issue-791	23	15	must	must	AUX
issue-791	23	16	be	be	AUX
issue-791	23	17	overcome	overcome	VERB
issue-791	23	18	.	.	PUNCT
issue-791	24	1	income	income	NOUN
issue-791	24	2	shadowing	shadowing	NOUN
issue-791	24	3	is	be	AUX
issue-791	24	4	a	a	DET
issue-791	24	5	result	result	NOUN
issue-791	24	6	of	of	ADP
issue-791	24	7	not	not	PART
issue-791	24	8	only	only	ADV
issue-791	24	9	the	the	DET
issue-791	24	10	high	high	ADJ
issue-791	24	11	level	level	NOUN
issue-791	24	12	of	of	ADP
issue-791	24	13	taxation	taxation	NOUN
issue-791	24	14	or	or	CCONJ
issue-791	24	15	over	over	ADP
issue-791	24	16	-	-	PUNCT
issue-791	24	17	regulation	regulation	NOUN
issue-791	24	18	of	of	ADP
issue-791	24	19	the	the	DET
issue-791	24	20	economy	economy	NOUN
issue-791	24	21	.	.	PUNCT
issue-791	25	1	shadowing	shadow	VERB
issue-791	25	2	drivers	driver	NOUN
issue-791	25	3	also	also	ADV
issue-791	25	4	include	include	VERB
issue-791	25	5	psychological	psychological	ADJ
issue-791	25	6	and	and	CCONJ
issue-791	25	7	mental	mental	ADJ
issue-791	25	8	factors	factor	NOUN
issue-791	25	9	,	,	PUNCT
issue-791	25	10	macroand	macroand	NOUN
issue-791	25	11	microeconomic	microeconomic	ADJ
issue-791	25	12	risks	risk	NOUN
issue-791	25	13	,	,	PUNCT
issue-791	25	14	and	and	CCONJ
issue-791	25	15	a	a	DET
issue-791	25	16	corruption	corruption	NOUN
issue-791	25	17	component	component	NOUN
issue-791	25	18	.	.	PUNCT
issue-791	26	1	due	due	ADP
issue-791	26	2	to	to	ADP
issue-791	26	3	the	the	DET
issue-791	26	4	specificity	specificity	NOUN
issue-791	26	5	of	of	ADP
issue-791	26	6	factors	factor	NOUN
issue-791	26	7	that	that	PRON
issue-791	26	8	influence	influence	VERB
issue-791	26	9	the	the	DET
issue-791	26	10	growth	growth	NOUN
issue-791	26	11	(	(	PUNCT
issue-791	26	12	or	or	CCONJ
issue-791	26	13	decrease	decrease	NOUN
issue-791	26	14	)	)	PUNCT
issue-791	26	15	of	of	ADP
issue-791	26	16	a	a	DET
issue-791	26	17	particular	particular	ADJ
issue-791	26	18	component	component	NOUN
issue-791	26	19	of	of	ADP
issue-791	26	20	shadow	shadow	NOUN
issue-791	26	21	activity	activity	NOUN
issue-791	26	22	,	,	PUNCT
issue-791	26	23	it	it	PRON
issue-791	26	24	is	be	AUX
issue-791	26	25	heterogeneous	heterogeneous	ADJ
issue-791	26	26	in	in	ADP
issue-791	26	27	composition	composition	NOUN
issue-791	26	28	and	and	CCONJ
issue-791	26	29	structure	structure	NOUN
issue-791	26	30	across	across	ADP
issue-791	26	31	countries	country	NOUN
issue-791	26	32	and	and	CCONJ
issue-791	26	33	groups	group	NOUN
issue-791	26	34	of	of	ADP
issue-791	26	35	countries	country	NOUN
issue-791	26	36	.	.	PUNCT
issue-791	27	1	in	in	ADP
issue-791	27	2	most	most	ADV
issue-791	27	3	developed	develop	VERB
issue-791	27	4	countries	country	NOUN
issue-791	27	5	,	,	PUNCT
issue-791	27	6	shadow	shadow	NOUN
issue-791	27	7	activity	activity	NOUN
issue-791	27	8	is	be	AUX
issue-791	27	9	associated	associate	VERB
issue-791	27	10	with	with	ADP
issue-791	27	11	illegal	illegal	ADJ
issue-791	27	12	employment	employment	NOUN
issue-791	27	13	,	,	PUNCT
issue-791	27	14	respectively	respectively	ADV
issue-791	27	15	,	,	PUNCT
issue-791	27	16	with	with	ADP
issue-791	27	17	the	the	DET
issue-791	27	18	shadow	shadow	NOUN
issue-791	27	19	wages	wage	NOUN
issue-791	27	20	that	that	PRON
issue-791	27	21	entail	entail	VERB
issue-791	27	22	tax	tax	NOUN
issue-791	27	23	and	and	CCONJ
issue-791	27	24	social	social	ADJ
issue-791	27	25	payments	payment	NOUN
issue-791	27	26	avoidance	avoidance	NOUN
issue-791	27	27	.	.	PUNCT
issue-791	28	1	in	in	ADP
issue-791	28	2	em	em	PRON
issue-791	28	3	countries	country	NOUN
issue-791	28	4	,	,	PUNCT
issue-791	28	5	the	the	DET
issue-791	28	6	main	main	ADJ
issue-791	28	7	forms	form	NOUN
issue-791	28	8	of	of	ADP
issue-791	28	9	its	its	PRON
issue-791	28	10	manifestation	manifestation	NOUN
issue-791	28	11	are	be	AUX
issue-791	28	12	the	the	DET
issue-791	28	13	concealment	concealment	NOUN
issue-791	28	14	of	of	ADP
issue-791	28	15	items	item	NOUN
issue-791	28	16	subject	subject	ADJ
issue-791	28	17	to	to	ADP
issue-791	28	18	taxation	taxation	NOUN
issue-791	28	19	by	by	ADP
issue-791	28	20	enterprises	enterprise	NOUN
issue-791	28	21	,	,	PUNCT
issue-791	28	22	the	the	DET
issue-791	28	23	circumvention	circumvention	NOUN
issue-791	28	24	of	of	ADP
issue-791	28	25	official	official	ADJ
issue-791	28	26	rules	rule	NOUN
issue-791	28	27	on	on	ADP
issue-791	28	28	capital	capital	NOUN
issue-791	28	29	movements	movement	NOUN
issue-791	28	30	and	and	CCONJ
issue-791	28	31	currency	currency	NOUN
issue-791	28	32	regulation	regulation	NOUN
issue-791	28	33	.	.	PUNCT
issue-791	29	1	baltic	baltic	PROPN
issue-791	29	2	journal	journal	PROPN
issue-791	29	3	of	of	ADP
issue-791	29	4	economic	economic	ADJ
issue-791	29	5	studies	study	NOUN
issue-791	29	6	62	62	NUM
issue-791	29	7	vol	vol	NOUN
issue-791	29	8	.	.	PROPN
issue-791	30	1	6	6	NUM
issue-791	30	2	,	,	PUNCT
issue-791	30	3	no	no	INTJ
issue-791	30	4	.	.	NOUN
issue-791	30	5	2	2	NUM
issue-791	30	6	,	,	PUNCT
issue-791	30	7	2020	2020	NUM
issue-791	30	8	the	the	DET
issue-791	30	9	development	development	NOUN
issue-791	30	10	of	of	ADP
issue-791	30	11	tools	tool	NOUN
issue-791	30	12	for	for	ADP
issue-791	30	13	minimizing	minimize	VERB
issue-791	30	14	the	the	DET
issue-791	30	15	informal	informal	ADJ
issue-791	30	16	sector	sector	NOUN
issue-791	30	17	requires	require	VERB
issue-791	30	18	to	to	PART
issue-791	30	19	clearly	clearly	ADV
issue-791	30	20	identify	identify	VERB
issue-791	30	21	the	the	DET
issue-791	30	22	components	component	NOUN
issue-791	30	23	of	of	ADP
issue-791	30	24	the	the	DET
issue-791	30	25	shadow	shadow	NOUN
issue-791	30	26	economy	economy	NOUN
issue-791	30	27	,	,	PUNCT
issue-791	30	28	their	their	PRON
issue-791	30	29	scopes	scope	NOUN
issue-791	30	30	and	and	CCONJ
issue-791	30	31	causes	cause	NOUN
issue-791	30	32	.	.	PUNCT
issue-791	31	1	according	accord	VERB
issue-791	31	2	to	to	ADP
issue-791	31	3	established	establish	VERB
issue-791	31	4	views	view	NOUN
issue-791	31	5	,	,	PUNCT
issue-791	31	6	shadow	shadow	NOUN
issue-791	31	7	business	business	NOUN
issue-791	31	8	creates	create	VERB
issue-791	31	9	additional	additional	ADJ
issue-791	31	10	risks	risk	NOUN
issue-791	31	11	that	that	PRON
issue-791	31	12	affect	affect	VERB
issue-791	31	13	the	the	DET
issue-791	31	14	cost	cost	NOUN
issue-791	31	15	of	of	ADP
issue-791	31	16	equity	equity	NOUN
issue-791	31	17	of	of	ADP
issue-791	31	18	enterprises	enterprise	NOUN
issue-791	31	19	towards	towards	ADP
issue-791	31	20	its	its	PRON
issue-791	31	21	growth	growth	NOUN
issue-791	31	22	.	.	PUNCT
issue-791	32	1	the	the	DET
issue-791	32	2	proposed	propose	VERB
issue-791	32	3	study	study	NOUN
issue-791	32	4	presents	present	VERB
issue-791	32	5	a	a	DET
issue-791	32	6	number	number	NOUN
issue-791	32	7	of	of	ADP
issue-791	32	8	alternative	alternative	ADJ
issue-791	32	9	hypotheses	hypothesis	NOUN
issue-791	32	10	regarding	regard	VERB
issue-791	32	11	the	the	DET
issue-791	32	12	causality	causality	NOUN
issue-791	32	13	of	of	ADP
issue-791	32	14	the	the	DET
issue-791	32	15	cost	cost	NOUN
issue-791	32	16	of	of	ADP
issue-791	32	17	investment	investment	NOUN
issue-791	32	18	capital	capital	NOUN
issue-791	32	19	and	and	CCONJ
issue-791	32	20	the	the	DET
issue-791	32	21	risks	risk	NOUN
issue-791	32	22	of	of	ADP
issue-791	32	23	the	the	DET
issue-791	32	24	shadow	shadow	NOUN
issue-791	32	25	economy	economy	NOUN
issue-791	32	26	.	.	PUNCT
issue-791	33	1	the	the	DET
issue-791	33	2	study	study	NOUN
issue-791	33	3	presents	present	VERB
issue-791	33	4	a	a	DET
issue-791	33	5	number	number	NOUN
issue-791	33	6	of	of	ADP
issue-791	33	7	alternative	alternative	ADJ
issue-791	33	8	hypotheses	hypothesis	NOUN
issue-791	33	9	regarding	regard	VERB
issue-791	33	10	the	the	DET
issue-791	33	11	causality	causality	NOUN
issue-791	33	12	of	of	ADP
issue-791	33	13	the	the	DET
issue-791	33	14	price	price	NOUN
issue-791	33	15	of	of	ADP
issue-791	33	16	investment	investment	NOUN
issue-791	33	17	capital	capital	NOUN
issue-791	33	18	and	and	CCONJ
issue-791	33	19	the	the	DET
issue-791	33	20	risks	risk	NOUN
issue-791	33	21	of	of	ADP
issue-791	33	22	the	the	DET
issue-791	33	23	shadow	shadow	NOUN
issue-791	33	24	economy	economy	NOUN
issue-791	33	25	.	.	PUNCT
issue-791	34	1	the	the	DET
issue-791	34	2	article	article	NOUN
issue-791	34	3	reveals	reveal	VERB
issue-791	34	4	that	that	SCONJ
issue-791	34	5	the	the	DET
issue-791	34	6	complex	complex	NOUN
issue-791	34	7	of	of	ADP
issue-791	34	8	local	local	ADJ
issue-791	34	9	risks	risk	NOUN
issue-791	34	10	of	of	ADP
issue-791	34	11	business	business	NOUN
issue-791	34	12	activities	activity	NOUN
issue-791	34	13	leads	lead	VERB
issue-791	34	14	,	,	PUNCT
issue-791	34	15	on	on	ADP
issue-791	34	16	the	the	DET
issue-791	34	17	one	one	NUM
issue-791	34	18	hand	hand	NOUN
issue-791	34	19	,	,	PUNCT
issue-791	34	20	to	to	ADP
issue-791	34	21	an	an	DET
issue-791	34	22	increase	increase	NOUN
issue-791	34	23	in	in	ADP
issue-791	34	24	the	the	DET
issue-791	34	25	cost	cost	NOUN
issue-791	34	26	of	of	ADP
issue-791	34	27	raising	raise	VERB
issue-791	34	28	capital	capital	NOUN
issue-791	34	29	and	and	CCONJ
issue-791	34	30	on	on	ADP
issue-791	34	31	the	the	DET
issue-791	34	32	other	other	ADJ
issue-791	34	33	hand	hand	NOUN
issue-791	34	34	,	,	PUNCT
issue-791	34	35	to	to	ADP
issue-791	34	36	the	the	DET
issue-791	34	37	need	need	NOUN
issue-791	34	38	for	for	ADP
issue-791	34	39	withdrawal	withdrawal	NOUN
issue-791	34	40	of	of	ADP
issue-791	34	41	income	income	NOUN
issue-791	34	42	and	and	CCONJ
issue-791	34	43	the	the	DET
issue-791	34	44	shadow	shadow	NOUN
issue-791	34	45	sector	sector	NOUN
issue-791	34	46	.	.	PUNCT
issue-791	35	1	the	the	DET
issue-791	35	2	complex	complex	ADJ
issue-791	35	3	chain	chain	NOUN
issue-791	35	4	of	of	ADP
issue-791	35	5	reasons	reason	NOUN
issue-791	35	6	explains	explain	VERB
issue-791	35	7	the	the	DET
issue-791	35	8	escape	escape	NOUN
issue-791	35	9	into	into	ADP
issue-791	35	10	the	the	DET
issue-791	35	11	shadows	shadow	NOUN
issue-791	35	12	as	as	ADP
issue-791	35	13	a	a	DET
issue-791	35	14	means	means	NOUN
issue-791	35	15	of	of	ADP
issue-791	35	16	reducing	reduce	VERB
issue-791	35	17	the	the	DET
issue-791	35	18	risks	risk	NOUN
issue-791	35	19	of	of	ADP
issue-791	35	20	business	business	NOUN
issue-791	35	21	.	.	PUNCT
issue-791	36	1	according	accord	VERB
issue-791	36	2	to	to	ADP
issue-791	36	3	empirical	empirical	ADJ
issue-791	36	4	data	datum	NOUN
issue-791	36	5	,	,	PUNCT
issue-791	36	6	in	in	ADP
issue-791	36	7	times	time	NOUN
issue-791	36	8	of	of	ADP
issue-791	36	9	recession	recession	NOUN
issue-791	36	10	and	and	CCONJ
issue-791	36	11	crisis	crisis	NOUN
issue-791	36	12	,	,	PUNCT
issue-791	36	13	growing	grow	VERB
issue-791	36	14	uncertainty	uncertainty	NOUN
issue-791	36	15	leads	lead	VERB
issue-791	36	16	to	to	ADP
issue-791	36	17	an	an	DET
issue-791	36	18	increase	increase	NOUN
issue-791	36	19	in	in	ADP
issue-791	36	20	the	the	DET
issue-791	36	21	shadow	shadow	NOUN
issue-791	36	22	activity	activity	NOUN
issue-791	36	23	.	.	PUNCT
issue-791	37	1	in	in	ADP
issue-791	37	2	the	the	DET
issue-791	37	3	presence	presence	NOUN
issue-791	37	4	of	of	ADP
issue-791	37	5	causal	causal	ADJ
issue-791	37	6	links	link	NOUN
issue-791	37	7	between	between	ADP
issue-791	37	8	the	the	DET
issue-791	37	9	shadow	shadow	NOUN
issue-791	37	10	activity	activity	NOUN
issue-791	37	11	of	of	ADP
issue-791	37	12	enterprises	enterprise	NOUN
issue-791	37	13	and	and	CCONJ
issue-791	37	14	the	the	DET
issue-791	37	15	cost	cost	NOUN
issue-791	37	16	of	of	ADP
issue-791	37	17	equity	equity	NOUN
issue-791	37	18	,	,	PUNCT
issue-791	37	19	the	the	DET
issue-791	37	20	latter	latter	ADJ
issue-791	37	21	should	should	AUX
issue-791	37	22	be	be	AUX
issue-791	37	23	considered	consider	VERB
issue-791	37	24	as	as	ADP
issue-791	37	25	a	a	DET
issue-791	37	26	variable	variable	NOUN
issue-791	37	27	to	to	PART
issue-791	37	28	calculate	calculate	VERB
issue-791	37	29	the	the	DET
issue-791	37	30	scope	scope	NOUN
issue-791	37	31	of	of	ADP
issue-791	37	32	undeclared	undeclared	ADJ
issue-791	37	33	income	income	NOUN
issue-791	37	34	of	of	ADP
issue-791	37	35	enterprises	enterprise	NOUN
issue-791	37	36	as	as	ADP
issue-791	37	37	the	the	DET
issue-791	37	38	largest	large	ADJ
issue-791	37	39	segment	segment	NOUN
issue-791	37	40	of	of	ADP
issue-791	37	41	the	the	DET
issue-791	37	42	shadow	shadow	NOUN
issue-791	37	43	economy	economy	NOUN
issue-791	37	44	.	.	PUNCT
issue-791	38	1	in	in	ADP
issue-791	38	2	the	the	DET
issue-791	38	3	article	article	NOUN
issue-791	38	4	,	,	PUNCT
issue-791	38	5	the	the	DET
issue-791	38	6	level	level	NOUN
issue-791	38	7	of	of	ADP
issue-791	38	8	enterprise	enterprise	NOUN
issue-791	38	9	income	income	NOUN
issue-791	38	10	shadowing	shadow	VERB
issue-791	38	11	on	on	ADP
issue-791	38	12	the	the	DET
issue-791	38	13	basis	basis	NOUN
issue-791	38	14	of	of	ADP
issue-791	38	15	the	the	DET
issue-791	38	16	expected	expect	VERB
issue-791	38	17	income	income	NOUN
issue-791	38	18	for	for	ADP
issue-791	38	19	investment	investment	NOUN
issue-791	38	20	in	in	ADP
issue-791	38	21	the	the	DET
issue-791	38	22	equity	equity	NOUN
issue-791	38	23	is	be	AUX
issue-791	38	24	estimated	estimate	VERB
issue-791	38	25	in	in	ADP
issue-791	38	26	the	the	DET
issue-791	38	27	context	context	NOUN
issue-791	38	28	of	of	ADP
issue-791	38	29	ukraine	ukraine	NOUN
issue-791	38	30	.	.	PUNCT
issue-791	39	1	2	2	X
issue-791	39	2	.	.	X
issue-791	39	3	previous	previous	ADJ
issue-791	39	4	research	research	NOUN
issue-791	39	5	review	review	NOUN
issue-791	39	6	in	in	ADP
issue-791	39	7	the	the	DET
issue-791	39	8	study	study	NOUN
issue-791	39	9	of	of	ADP
issue-791	39	10	the	the	DET
issue-791	39	11	informal	informal	ADJ
issue-791	39	12	economy	economy	NOUN
issue-791	39	13	in	in	ADP
issue-791	39	14	developed	develop	VERB
issue-791	39	15	countries	country	NOUN
issue-791	39	16	,	,	PUNCT
issue-791	39	17	the	the	DET
issue-791	39	18	main	main	ADJ
issue-791	39	19	emphasis	emphasis	NOUN
issue-791	39	20	is	be	AUX
issue-791	39	21	on	on	ADP
issue-791	39	22	the	the	DET
issue-791	39	23	issues	issue	NOUN
issue-791	39	24	of	of	ADP
issue-791	39	25	tax	tax	NOUN
issue-791	39	26	evasion	evasion	NOUN
issue-791	39	27	by	by	ADP
issue-791	39	28	large	large	ADJ
issue-791	39	29	corporations	corporation	NOUN
issue-791	39	30	and	and	CCONJ
issue-791	39	31	undeclared	undeclared	ADJ
issue-791	39	32	income	income	NOUN
issue-791	39	33	from	from	ADP
issue-791	39	34	shadow	shadow	NOUN
issue-791	39	35	employment	employment	NOUN
issue-791	39	36	.	.	PUNCT
issue-791	40	1	for	for	ADP
issue-791	40	2	example	example	NOUN
issue-791	40	3	,	,	PUNCT
issue-791	40	4	f.	f.	PROPN
issue-791	40	5	schneider	schneider	PROPN
issue-791	40	6	and	and	CCONJ
issue-791	40	7	b.	b.	PROPN
issue-791	40	8	boockmann	boockmann	PROPN
issue-791	40	9	(	(	PUNCT
issue-791	40	10	2018	2018	NUM
issue-791	40	11	)	)	PUNCT
issue-791	40	12	distinguish	distinguish	VERB
issue-791	40	13	legal	legal	ADJ
issue-791	40	14	and	and	CCONJ
issue-791	40	15	illegal	illegal	ADJ
issue-791	40	16	activities	activity	NOUN
issue-791	40	17	,	,	PUNCT
issue-791	40	18	monetary	monetary	ADJ
issue-791	40	19	and	and	CCONJ
issue-791	40	20	non	non	ADJ
issue-791	40	21	-	-	ADJ
issue-791	40	22	monetary	monetary	ADJ
issue-791	40	23	transactions	transaction	NOUN
issue-791	40	24	in	in	ADP
issue-791	40	25	the	the	DET
issue-791	40	26	shadow	shadow	NOUN
issue-791	40	27	economy	economy	NOUN
issue-791	40	28	.	.	PUNCT
issue-791	41	1	undeclared	undeclared	ADJ
issue-791	41	2	business	business	NOUN
issue-791	41	3	income	income	NOUN
issue-791	41	4	,	,	PUNCT
issue-791	41	5	hidden	hide	VERB
issue-791	41	6	assets	asset	NOUN
issue-791	41	7	,	,	PUNCT
issue-791	41	8	and	and	CCONJ
issue-791	41	9	employee	employee	NOUN
issue-791	41	10	salaries	salary	NOUN
issue-791	41	11	are	be	AUX
issue-791	41	12	all	all	ADV
issue-791	41	13	assessed	assess	VERB
issue-791	41	14	in	in	ADP
issue-791	41	15	one	one	NUM
issue-791	41	16	unit	unit	NOUN
issue-791	41	17	.	.	PUNCT
issue-791	42	1	however	however	ADV
issue-791	42	2	,	,	PUNCT
issue-791	42	3	the	the	DET
issue-791	42	4	nature	nature	NOUN
issue-791	42	5	of	of	ADP
issue-791	42	6	individual	individual	ADJ
issue-791	42	7	types	type	NOUN
issue-791	42	8	of	of	ADP
issue-791	42	9	shadow	shadow	NOUN
issue-791	42	10	activity	activity	NOUN
issue-791	42	11	is	be	AUX
issue-791	42	12	different	different	ADJ
issue-791	42	13	.	.	PUNCT
issue-791	43	1	a	a	DET
issue-791	43	2	unified	unified	ADJ
issue-791	43	3	approach	approach	NOUN
issue-791	43	4	to	to	ADP
issue-791	43	5	their	their	PRON
issue-791	43	6	estimation	estimation	NOUN
issue-791	43	7	leads	lead	VERB
issue-791	43	8	to	to	ADP
issue-791	43	9	a	a	DET
issue-791	43	10	high	high	ADJ
issue-791	43	11	probability	probability	NOUN
issue-791	43	12	of	of	ADP
issue-791	43	13	error	error	NOUN
issue-791	43	14	,	,	PUNCT
issue-791	43	15	since	since	SCONJ
issue-791	43	16	the	the	DET
issue-791	43	17	question	question	NOUN
issue-791	43	18	remains	remain	VERB
issue-791	43	19	about	about	ADP
issue-791	43	20	the	the	DET
issue-791	43	21	final	final	ADJ
issue-791	43	22	evaluation	evaluation	NOUN
issue-791	43	23	object	object	NOUN
issue-791	43	24	.	.	PUNCT
issue-791	44	1	the	the	DET
issue-791	44	2	need	need	NOUN
issue-791	44	3	for	for	ADP
issue-791	44	4	a	a	DET
issue-791	44	5	differentiated	differentiated	ADJ
issue-791	44	6	estimation	estimation	NOUN
issue-791	44	7	of	of	ADP
issue-791	44	8	individual	individual	ADJ
issue-791	44	9	components	component	NOUN
issue-791	44	10	of	of	ADP
issue-791	44	11	the	the	DET
issue-791	44	12	shadow	shadow	NOUN
issue-791	44	13	economy	economy	NOUN
issue-791	44	14	,	,	PUNCT
issue-791	44	15	in	in	ADP
issue-791	44	16	particular	particular	ADJ
issue-791	44	17	,	,	PUNCT
issue-791	44	18	undeclared	undeclared	ADJ
issue-791	44	19	incomes	income	NOUN
issue-791	44	20	of	of	ADP
issue-791	44	21	enterprises	enterprise	NOUN
issue-791	44	22	and	and	CCONJ
issue-791	44	23	employees	employee	NOUN
issue-791	44	24	is	be	AUX
issue-791	44	25	explained	explain	VERB
issue-791	44	26	both	both	PRON
issue-791	44	27	by	by	ADP
issue-791	44	28	the	the	DET
issue-791	44	29	different	different	ADJ
issue-791	44	30	nature	nature	NOUN
issue-791	44	31	of	of	ADP
issue-791	44	32	their	their	PRON
issue-791	44	33	occurrence	occurrence	NOUN
issue-791	44	34	and	and	CCONJ
issue-791	44	35	by	by	ADP
issue-791	44	36	the	the	DET
issue-791	44	37	different	different	ADJ
issue-791	44	38	instruments	instrument	NOUN
issue-791	44	39	of	of	ADP
issue-791	44	40	minimization	minimization	NOUN
issue-791	44	41	.	.	PUNCT
issue-791	45	1	for	for	ADP
issue-791	45	2	example	example	NOUN
issue-791	45	3	,	,	PUNCT
issue-791	45	4	t.	t.	NOUN
issue-791	45	5	putnins	putnin	NOUN
issue-791	45	6	and	and	CCONJ
issue-791	45	7	a.	a.	PROPN
issue-791	45	8	sauka	sauka	PROPN
issue-791	45	9	(	(	PUNCT
issue-791	45	10	2015	2015	NUM
issue-791	45	11	)	)	PUNCT
issue-791	45	12	apply	apply	VERB
issue-791	45	13	such	such	ADJ
issue-791	45	14	structuring	structuring	NOUN
issue-791	45	15	in	in	ADP
issue-791	45	16	the	the	DET
issue-791	45	17	process	process	NOUN
issue-791	45	18	of	of	ADP
issue-791	45	19	estimating	estimate	VERB
issue-791	45	20	the	the	DET
issue-791	45	21	size	size	NOUN
issue-791	45	22	of	of	ADP
issue-791	45	23	the	the	DET
issue-791	45	24	informal	informal	ADJ
issue-791	45	25	sector	sector	NOUN
issue-791	45	26	in	in	ADP
issue-791	45	27	the	the	DET
issue-791	45	28	baltic	baltic	ADJ
issue-791	45	29	countries	country	NOUN
issue-791	45	30	.	.	PUNCT
issue-791	46	1	depending	depend	VERB
issue-791	46	2	on	on	ADP
issue-791	46	3	the	the	DET
issue-791	46	4	interpretation	interpretation	NOUN
issue-791	46	5	of	of	ADP
issue-791	46	6	the	the	DET
issue-791	46	7	shadow	shadow	NOUN
issue-791	46	8	economy	economy	NOUN
issue-791	46	9	components	component	NOUN
issue-791	46	10	,	,	PUNCT
issue-791	46	11	a	a	DET
issue-791	46	12	number	number	NOUN
issue-791	46	13	of	of	ADP
issue-791	46	14	direct	direct	ADJ
issue-791	46	15	and	and	CCONJ
issue-791	46	16	indirect	indirect	ADJ
issue-791	46	17	methods	method	NOUN
issue-791	46	18	are	be	AUX
issue-791	46	19	used	use	VERB
issue-791	46	20	to	to	PART
issue-791	46	21	estimate	estimate	VERB
issue-791	46	22	its	its	PRON
issue-791	46	23	size	size	NOUN
issue-791	46	24	,	,	PUNCT
issue-791	46	25	but	but	CCONJ
issue-791	46	26	they	they	PRON
issue-791	46	27	are	be	AUX
issue-791	46	28	not	not	PART
issue-791	46	29	flawless	flawless	ADJ
issue-791	46	30	.	.	PUNCT
issue-791	47	1	direct	direct	ADJ
issue-791	47	2	methods	method	NOUN
issue-791	47	3	relate	relate	VERB
issue-791	47	4	to	to	ADP
issue-791	47	5	statistical	statistical	ADJ
issue-791	47	6	surveys	survey	NOUN
issue-791	47	7	of	of	ADP
issue-791	47	8	business	business	NOUN
issue-791	47	9	representatives	representative	NOUN
issue-791	47	10	and	and	CCONJ
issue-791	47	11	the	the	DET
issue-791	47	12	detection	detection	NOUN
issue-791	47	13	of	of	ADP
issue-791	47	14	shadow	shadow	NOUN
issue-791	47	15	transactions	transaction	NOUN
issue-791	47	16	at	at	ADP
issue-791	47	17	enterprises	enterprise	NOUN
issue-791	47	18	.	.	PUNCT
issue-791	48	1	for	for	ADP
issue-791	48	2	example	example	NOUN
issue-791	48	3	,	,	PUNCT
issue-791	48	4	t.	t.	NOUN
issue-791	48	5	putnins	putnin	NOUN
issue-791	48	6	and	and	CCONJ
issue-791	48	7	a.	a.	PROPN
issue-791	48	8	sauka	sauka	PROPN
issue-791	48	9	use	use	VERB
issue-791	48	10	surveys	survey	NOUN
issue-791	48	11	of	of	ADP
issue-791	48	12	company	company	NOUN
issue-791	48	13	responsible	responsible	ADJ
issue-791	48	14	executives	executive	NOUN
issue-791	48	15	and	and	CCONJ
issue-791	48	16	managers	manager	NOUN
issue-791	48	17	to	to	PART
issue-791	48	18	estimate	estimate	VERB
issue-791	48	19	the	the	DET
issue-791	48	20	size	size	NOUN
issue-791	48	21	of	of	ADP
issue-791	48	22	the	the	DET
issue-791	48	23	shadow	shadow	NOUN
issue-791	48	24	economy	economy	NOUN
issue-791	48	25	.	.	PUNCT
issue-791	49	1	from	from	ADP
issue-791	49	2	their	their	PRON
issue-791	49	3	perspective	perspective	NOUN
issue-791	49	4	,	,	PUNCT
issue-791	49	5	the	the	DET
issue-791	49	6	total	total	ADJ
issue-791	49	7	shadow	shadow	NOUN
issue-791	49	8	economy	economy	NOUN
issue-791	49	9	is	be	AUX
issue-791	49	10	estimated	estimate	VERB
issue-791	49	11	by	by	ADP
issue-791	49	12	components	component	NOUN
issue-791	49	13	as	as	SCONJ
issue-791	49	14	follows	follow	VERB
issue-791	49	15	:	:	PUNCT
issue-791	50	1	undeclared	undeclared	ADJ
issue-791	50	2	corporate	corporate	ADJ
issue-791	50	3	incomes	income	NOUN
issue-791	50	4	,	,	PUNCT
issue-791	50	5	unregistered	unregistered	ADJ
issue-791	50	6	workers	worker	NOUN
issue-791	50	7	,	,	PUNCT
issue-791	50	8	and	and	CCONJ
issue-791	50	9	undeclared	undeclared	ADJ
issue-791	50	10	wages	wage	NOUN
issue-791	50	11	.	.	PUNCT
issue-791	51	1	due	due	ADP
issue-791	51	2	to	to	ADP
issue-791	51	3	the	the	DET
issue-791	51	4	possible	possible	ADJ
issue-791	51	5	respondents	respondent	NOUN
issue-791	51	6	'	'	PART
issue-791	51	7	manipulation	manipulation	NOUN
issue-791	51	8	,	,	PUNCT
issue-791	51	9	the	the	DET
issue-791	51	10	survey	survey	NOUN
issue-791	51	11	method	method	NOUN
issue-791	51	12	is	be	AUX
issue-791	51	13	characterized	characterize	VERB
issue-791	51	14	by	by	ADP
issue-791	51	15	a	a	DET
issue-791	51	16	high	high	ADJ
issue-791	51	17	level	level	NOUN
issue-791	51	18	of	of	ADP
issue-791	51	19	subjectivity	subjectivity	NOUN
issue-791	51	20	.	.	PUNCT
issue-791	52	1	its	its	PRON
issue-791	52	2	data	datum	NOUN
issue-791	52	3	and	and	CCONJ
issue-791	52	4	objectivity	objectivity	NOUN
issue-791	52	5	are	be	AUX
issue-791	52	6	rather	rather	ADV
issue-791	52	7	ambiguous	ambiguous	ADJ
issue-791	52	8	.	.	PUNCT
issue-791	53	1	given	give	VERB
issue-791	53	2	the	the	DET
issue-791	53	3	variety	variety	NOUN
issue-791	53	4	of	of	ADP
issue-791	53	5	schemes	scheme	NOUN
issue-791	53	6	and	and	CCONJ
issue-791	53	7	forms	form	NOUN
issue-791	53	8	of	of	ADP
issue-791	53	9	shadowing	shadow	VERB
issue-791	53	10	the	the	DET
issue-791	53	11	cost	cost	NOUN
issue-791	53	12	of	of	ADP
issue-791	53	13	equity	equity	NOUN
issue-791	53	14	,	,	PUNCT
issue-791	53	15	as	as	ADV
issue-791	53	16	well	well	ADV
issue-791	53	17	as	as	ADP
issue-791	53	18	the	the	DET
issue-791	53	19	extreme	extreme	ADJ
issue-791	53	20	cost	cost	NOUN
issue-791	53	21	of	of	ADP
issue-791	53	22	control	control	NOUN
issue-791	53	23	,	,	PUNCT
issue-791	53	24	it	it	PRON
issue-791	53	25	is	be	AUX
issue-791	53	26	unrealistic	unrealistic	ADJ
issue-791	53	27	mission	mission	NOUN
issue-791	53	28	to	to	PART
issue-791	53	29	determine	determine	VERB
issue-791	53	30	the	the	DET
issue-791	53	31	actual	actual	ADJ
issue-791	53	32	cost	cost	NOUN
issue-791	53	33	of	of	ADP
issue-791	53	34	equity	equity	NOUN
issue-791	53	35	by	by	ADP
issue-791	53	36	direct	direct	ADJ
issue-791	53	37	methods	method	NOUN
issue-791	53	38	.	.	PUNCT
issue-791	54	1	the	the	DET
issue-791	54	2	analysis	analysis	NOUN
issue-791	54	3	of	of	ADP
issue-791	54	4	detecting	detect	VERB
issue-791	54	5	undeclared	undeclared	ADJ
issue-791	54	6	incomes	income	NOUN
issue-791	54	7	is	be	AUX
issue-791	54	8	time	time	NOUN
issue-791	54	9	-	-	PUNCT
issue-791	54	10	consuming	consume	VERB
issue-791	54	11	and	and	CCONJ
issue-791	54	12	selective	selective	NOUN
issue-791	54	13	.	.	PUNCT
issue-791	55	1	the	the	DET
issue-791	55	2	complexity	complexity	NOUN
issue-791	55	3	of	of	ADP
issue-791	55	4	studying	study	VERB
issue-791	55	5	the	the	DET
issue-791	55	6	processes	process	NOUN
issue-791	55	7	in	in	ADP
issue-791	55	8	the	the	DET
issue-791	55	9	shadow	shadow	NOUN
issue-791	55	10	economy	economy	NOUN
issue-791	55	11	is	be	AUX
issue-791	55	12	related	relate	VERB
issue-791	55	13	to	to	ADP
issue-791	55	14	the	the	DET
issue-791	55	15	lack	lack	NOUN
issue-791	55	16	of	of	ADP
issue-791	55	17	empirical	empirical	ADJ
issue-791	55	18	data	datum	NOUN
issue-791	55	19	.	.	PUNCT
issue-791	56	1	for	for	ADP
issue-791	56	2	any	any	DET
issue-791	56	3	business	business	NOUN
issue-791	56	4	,	,	PUNCT
issue-791	56	5	the	the	DET
issue-791	56	6	shadow	shadow	NOUN
issue-791	56	7	activity	activity	NOUN
issue-791	56	8	is	be	AUX
issue-791	56	9	the	the	DET
issue-791	56	10	most	most	ADV
issue-791	56	11	secret	secret	ADJ
issue-791	56	12	information	information	NOUN
issue-791	56	13	that	that	PRON
issue-791	56	14	is	be	AUX
issue-791	56	15	accessible	accessible	ADJ
issue-791	56	16	to	to	ADP
issue-791	56	17	a	a	DET
issue-791	56	18	very	very	ADV
issue-791	56	19	limited	limited	ADJ
issue-791	56	20	number	number	NOUN
issue-791	56	21	of	of	ADP
issue-791	56	22	people	people	NOUN
issue-791	56	23	.	.	PUNCT
issue-791	57	1	the	the	DET
issue-791	57	2	facts	fact	NOUN
issue-791	57	3	of	of	ADP
issue-791	57	4	shadow	shadow	NOUN
issue-791	57	5	transactions	transaction	NOUN
issue-791	57	6	are	be	AUX
issue-791	57	7	rare	rare	ADJ
issue-791	57	8	and	and	CCONJ
issue-791	57	9	information	information	NOUN
issue-791	57	10	about	about	ADP
issue-791	57	11	them	they	PRON
issue-791	57	12	is	be	AUX
issue-791	57	13	unsystematic	unsystematic	ADJ
issue-791	57	14	and	and	CCONJ
issue-791	57	15	statistically	statistically	ADV
issue-791	57	16	irrelevant	irrelevant	ADJ
issue-791	57	17	.	.	PUNCT
issue-791	58	1	that	that	PRON
issue-791	58	2	is	be	AUX
issue-791	58	3	why	why	SCONJ
issue-791	58	4	most	most	ADJ
issue-791	58	5	of	of	ADP
issue-791	58	6	the	the	DET
issue-791	58	7	shadow	shadow	NOUN
issue-791	58	8	economy	economy	NOUN
issue-791	58	9	valuations	valuation	NOUN
issue-791	58	10	are	be	AUX
issue-791	58	11	focused	focus	VERB
issue-791	58	12	on	on	ADP
issue-791	58	13	the	the	DET
issue-791	58	14	analysis	analysis	NOUN
issue-791	58	15	of	of	ADP
issue-791	58	16	cause	cause	NOUN
issue-791	58	17	and	and	CCONJ
issue-791	58	18	effect	effect	VERB
issue-791	58	19	factors	factor	NOUN
issue-791	58	20	and	and	CCONJ
issue-791	58	21	the	the	DET
issue-791	58	22	estimation	estimation	NOUN
issue-791	58	23	of	of	ADP
issue-791	58	24	the	the	DET
issue-791	58	25	shadow	shadow	NOUN
issue-791	58	26	activity	activity	NOUN
issue-791	58	27	by	by	ADP
issue-791	58	28	indirect	indirect	ADJ
issue-791	58	29	methods	method	NOUN
issue-791	58	30	.	.	PUNCT
issue-791	59	1	indirect	indirect	ADJ
issue-791	59	2	methods	method	NOUN
issue-791	59	3	are	be	AUX
issue-791	59	4	based	base	VERB
issue-791	59	5	on	on	ADP
issue-791	59	6	the	the	DET
issue-791	59	7	comparison	comparison	NOUN
issue-791	59	8	of	of	ADP
issue-791	59	9	household	household	NOUN
issue-791	59	10	income	income	NOUN
issue-791	59	11	and	and	CCONJ
issue-791	59	12	expenditure	expenditure	NOUN
issue-791	59	13	,	,	PUNCT
issue-791	59	14	the	the	DET
issue-791	59	15	analysis	analysis	NOUN
issue-791	59	16	of	of	ADP
issue-791	59	17	individual	individual	ADJ
issue-791	59	18	macroeconomic	macroeconomic	ADJ
issue-791	59	19	and	and	CCONJ
issue-791	59	20	monetary	monetary	ADJ
issue-791	59	21	indicators	indicator	NOUN
issue-791	59	22	,	,	PUNCT
issue-791	59	23	the	the	DET
issue-791	59	24	study	study	NOUN
issue-791	59	25	of	of	ADP
issue-791	59	26	the	the	DET
issue-791	59	27	causal	causal	ADJ
issue-791	59	28	relationships	relationship	NOUN
issue-791	59	29	between	between	ADP
issue-791	59	30	technological	technological	ADJ
issue-791	59	31	indicators	indicator	NOUN
issue-791	59	32	and	and	CCONJ
issue-791	59	33	gdp	gdp	NOUN
issue-791	59	34	,	,	PUNCT
issue-791	59	35	and	and	CCONJ
issue-791	59	36	so	so	ADV
issue-791	59	37	on	on	ADV
issue-791	59	38	.	.	PUNCT
issue-791	60	1	the	the	DET
issue-791	60	2	most	most	ADV
issue-791	60	3	well	well	ADV
issue-791	60	4	-	-	PUNCT
issue-791	60	5	known	know	VERB
issue-791	60	6	indirect	indirect	ADJ
issue-791	60	7	way	way	NOUN
issue-791	60	8	of	of	ADP
issue-791	60	9	estimating	estimate	VERB
issue-791	60	10	the	the	DET
issue-791	60	11	size	size	NOUN
issue-791	60	12	of	of	ADP
issue-791	60	13	the	the	DET
issue-791	60	14	shadow	shadow	NOUN
issue-791	60	15	economy	economy	NOUN
issue-791	60	16	is	be	AUX
issue-791	60	17	the	the	DET
issue-791	60	18	mimic	mimic	ADJ
issue-791	60	19	(	(	PUNCT
issue-791	60	20	multiple	multiple	ADJ
issue-791	60	21	indicators	indicator	NOUN
issue-791	60	22	multiple	multiple	ADJ
issue-791	60	23	causes	cause	NOUN
issue-791	60	24	)	)	PUNCT
issue-791	60	25	method	method	NOUN
issue-791	60	26	,	,	PUNCT
issue-791	60	27	which	which	PRON
issue-791	60	28	is	be	AUX
issue-791	60	29	based	base	VERB
issue-791	60	30	on	on	ADP
issue-791	60	31	the	the	DET
issue-791	60	32	analysis	analysis	NOUN
issue-791	60	33	of	of	ADP
issue-791	60	34	multiple	multiple	ADJ
issue-791	60	35	impact	impact	NOUN
issue-791	60	36	factors	factor	NOUN
issue-791	60	37	and	and	CCONJ
issue-791	60	38	multiple	multiple	ADJ
issue-791	60	39	indicators	indicator	NOUN
issue-791	60	40	of	of	ADP
issue-791	60	41	the	the	DET
issue-791	60	42	size	size	NOUN
issue-791	60	43	of	of	ADP
issue-791	60	44	the	the	DET
issue-791	60	45	shadow	shadow	NOUN
issue-791	60	46	economy	economy	NOUN
issue-791	60	47	.	.	PUNCT
issue-791	61	1	in	in	ADP
issue-791	61	2	2018	2018	NUM
issue-791	61	3	,	,	PUNCT
issue-791	61	4	the	the	DET
issue-791	61	5	imf	imf	PROPN
issue-791	61	6	published	publish	VERB
issue-791	61	7	the	the	DET
issue-791	61	8	results	result	NOUN
issue-791	61	9	of	of	ADP
issue-791	61	10	a	a	DET
issue-791	61	11	study	study	NOUN
issue-791	61	12	by	by	ADP
issue-791	61	13	l.	l.	PROPN
issue-791	61	14	medina	medina	PROPN
issue-791	61	15	and	and	CCONJ
issue-791	61	16	f.	f.	PROPN
issue-791	61	17	schneider	schneider	PROPN
issue-791	61	18	(	(	PUNCT
issue-791	61	19	2018	2018	NUM
issue-791	61	20	)	)	PUNCT
issue-791	61	21	that	that	PRON
issue-791	61	22	used	use	VERB
issue-791	61	23	mimis	mimis	PROPN
issue-791	61	24	to	to	PART
issue-791	61	25	estimate	estimate	VERB
issue-791	61	26	the	the	DET
issue-791	61	27	shadow	shadow	NOUN
issue-791	61	28	economy	economy	NOUN
issue-791	61	29	in	in	ADP
issue-791	61	30	158	158	NUM
issue-791	61	31	countries	country	NOUN
issue-791	61	32	over	over	ADP
issue-791	61	33	the	the	DET
issue-791	61	34	period	period	NOUN
issue-791	61	35	of	of	ADP
issue-791	61	36	1991–2015	1991–2015	NUM
issue-791	61	37	.	.	PUNCT
issue-791	62	1	multiple	multiple	ADJ
issue-791	62	2	impact	impact	NOUN
issue-791	62	3	factors	factor	NOUN
issue-791	62	4	included	include	VERB
issue-791	62	5	variables	variable	NOUN
issue-791	62	6	as	as	SCONJ
issue-791	62	7	follows	follow	VERB
issue-791	62	8	:	:	PUNCT
issue-791	62	9	trade	trade	NOUN
issue-791	62	10	openness	openness	NOUN
issue-791	62	11	index	index	PROPN
issue-791	62	12	,	,	PUNCT
issue-791	62	13	gdp	gdp	NOUN
issue-791	62	14	per	per	ADP
issue-791	62	15	capita	capita	NOUN
issue-791	62	16	,	,	PUNCT
issue-791	62	17	unemployment	unemployment	NOUN
issue-791	62	18	rate	rate	NOUN
issue-791	62	19	,	,	PUNCT
issue-791	62	20	government	government	NOUN
issue-791	62	21	scale	scale	NOUN
issue-791	62	22	and	and	CCONJ
issue-791	62	23	stability	stability	NOUN
issue-791	62	24	indices	index	NOUN
issue-791	62	25	,	,	PUNCT
issue-791	62	26	fiscal	fiscal	ADJ
issue-791	62	27	freedom	freedom	NOUN
issue-791	62	28	and	and	CCONJ
issue-791	62	29	rule	rule	NOUN
issue-791	62	30	of	of	ADP
issue-791	62	31	law	law	NOUN
issue-791	62	32	indicators	indicator	NOUN
issue-791	62	33	,	,	PUNCT
issue-791	62	34	level	level	NOUN
issue-791	62	35	of	of	ADP
issue-791	62	36	corruption	corruption	NOUN
issue-791	62	37	control	control	NOUN
issue-791	62	38	.	.	PUNCT
issue-791	63	1	in	in	ADP
issue-791	63	2	addition	addition	NOUN
issue-791	63	3	,	,	PUNCT
issue-791	63	4	the	the	DET
issue-791	63	5	following	follow	VERB
issue-791	63	6	indicators	indicator	NOUN
issue-791	63	7	were	be	AUX
issue-791	63	8	used	use	VERB
issue-791	63	9	:	:	PUNCT
issue-791	63	10	the	the	DET
issue-791	63	11	level	level	NOUN
issue-791	63	12	of	of	ADP
issue-791	63	13	the	the	DET
issue-791	63	14	economically	economically	ADV
issue-791	63	15	active	active	ADJ
issue-791	63	16	population	population	NOUN
issue-791	63	17	,	,	PUNCT
issue-791	63	18	the	the	DET
issue-791	63	19	currency	currency	NOUN
issue-791	63	20	’s	’s	PART
issue-791	63	21	stability	stability	NOUN
issue-791	63	22	and	and	CCONJ
issue-791	63	23	the	the	DET
issue-791	63	24	per	per	ADP
issue-791	63	25	capita	capita	X
issue-791	63	26	gdp	gdp	NOUN
issue-791	63	27	growth	growth	NOUN
issue-791	63	28	.	.	PUNCT
issue-791	64	1	according	accord	VERB
issue-791	64	2	to	to	ADP
issue-791	64	3	t.	t.	PROPN
issue-791	64	4	breusch	breusch	PROPN
issue-791	64	5	(	(	PUNCT
issue-791	64	6	2005	2005	NUM
issue-791	64	7	)	)	PUNCT
issue-791	64	8	,	,	PUNCT
issue-791	64	9	the	the	DET
issue-791	64	10	bottleneck	bottleneck	NOUN
issue-791	64	11	of	of	ADP
issue-791	64	12	the	the	DET
issue-791	64	13	method	method	NOUN
issue-791	64	14	is	be	AUX
issue-791	64	15	the	the	DET
issue-791	64	16	doubtful	doubtful	ADJ
issue-791	64	17	notion	notion	NOUN
issue-791	64	18	that	that	SCONJ
issue-791	64	19	only	only	ADV
issue-791	64	20	the	the	DET
issue-791	64	21	size	size	NOUN
issue-791	64	22	of	of	ADP
issue-791	64	23	the	the	DET
issue-791	64	24	shadow	shadow	NOUN
issue-791	64	25	economy	economy	NOUN
issue-791	64	26	can	can	AUX
issue-791	64	27	be	be	AUX
issue-791	64	28	regarded	regard	VERB
issue-791	64	29	as	as	ADP
issue-791	64	30	a	a	DET
issue-791	64	31	latent	latent	NOUN
issue-791	64	32	change	change	NOUN
issue-791	64	33	that	that	PRON
issue-791	64	34	co	co	NOUN
issue-791	64	35	-	-	NOUN
issue-791	64	36	integrates	integrate	NOUN
issue-791	64	37	causal	causal	ADJ
issue-791	64	38	variables	variable	NOUN
issue-791	64	39	and	and	CCONJ
issue-791	64	40	indicators	indicator	NOUN
issue-791	64	41	.	.	PUNCT
issue-791	65	1	in	in	ADP
issue-791	65	2	addition	addition	NOUN
issue-791	65	3	,	,	PUNCT
issue-791	65	4	the	the	DET
issue-791	65	5	results	result	NOUN
issue-791	65	6	of	of	ADP
issue-791	65	7	the	the	DET
issue-791	65	8	evaluation	evaluation	NOUN
issue-791	65	9	are	be	AUX
issue-791	65	10	too	too	ADV
issue-791	65	11	sensitive	sensitive	ADJ
issue-791	65	12	to	to	ADP
issue-791	65	13	the	the	DET
issue-791	65	14	units	unit	NOUN
issue-791	65	15	in	in	ADP
issue-791	65	16	which	which	PRON
issue-791	65	17	the	the	DET
issue-791	65	18	variables	variable	NOUN
issue-791	65	19	are	be	AUX
issue-791	65	20	measured	measure	VERB
issue-791	65	21	.	.	PUNCT
issue-791	66	1	another	another	DET
issue-791	66	2	drawback	drawback	NOUN
issue-791	66	3	of	of	ADP
issue-791	66	4	the	the	DET
issue-791	66	5	approach	approach	NOUN
issue-791	66	6	is	be	AUX
issue-791	66	7	its	its	PRON
issue-791	66	8	lack	lack	NOUN
issue-791	66	9	of	of	ADP
issue-791	66	10	sensitivity	sensitivity	NOUN
issue-791	66	11	to	to	ADP
issue-791	66	12	current	current	ADJ
issue-791	66	13	country	country	NOUN
issue-791	66	14	risks	risk	NOUN
issue-791	66	15	.	.	PUNCT
issue-791	67	1	given	give	VERB
issue-791	67	2	the	the	DET
issue-791	67	3	issues	issue	NOUN
issue-791	67	4	of	of	ADP
issue-791	67	5	structuring	structure	VERB
issue-791	67	6	and	and	CCONJ
issue-791	67	7	estimating	estimate	VERB
issue-791	67	8	the	the	DET
issue-791	67	9	shadow	shadow	NOUN
issue-791	67	10	economy	economy	NOUN
issue-791	67	11	,	,	PUNCT
issue-791	67	12	this	this	DET
issue-791	67	13	study	study	NOUN
issue-791	67	14	focuses	focus	VERB
issue-791	67	15	on	on	ADP
issue-791	67	16	developing	develop	VERB
issue-791	67	17	a	a	DET
issue-791	67	18	fundamentally	fundamentally	ADV
issue-791	67	19	new	new	ADJ
issue-791	67	20	approach	approach	NOUN
issue-791	67	21	to	to	ADP
issue-791	67	22	estimating	estimate	VERB
issue-791	67	23	the	the	DET
issue-791	67	24	largest	large	ADJ
issue-791	67	25	component	component	NOUN
issue-791	67	26	of	of	ADP
issue-791	67	27	the	the	DET
issue-791	67	28	shadow	shadow	NOUN
issue-791	67	29	economy	economy	NOUN
issue-791	67	30	that	that	PRON
issue-791	67	31	is	be	AUX
issue-791	67	32	the	the	DET
issue-791	67	33	size	size	NOUN
issue-791	67	34	of	of	ADP
issue-791	67	35	incomes	income	NOUN
issue-791	67	36	undeclared	undeclare	VERB
issue-791	67	37	by	by	ADP
issue-791	67	38	enterprises	enterprise	NOUN
issue-791	67	39	.	.	PUNCT
issue-791	68	1	according	accord	VERB
issue-791	68	2	to	to	ADP
issue-791	68	3	our	our	PRON
issue-791	68	4	hypothesis	hypothesis	NOUN
issue-791	68	5	,	,	PUNCT
issue-791	68	6	the	the	DET
issue-791	68	7	total	total	ADJ
issue-791	68	8	annual	annual	ADJ
issue-791	68	9	incomes	income	NOUN
issue-791	68	10	that	that	SCONJ
issue-791	68	11	"	"	PUNCT
issue-791	68	12	flow	flow	NOUN
issue-791	68	13	"	"	PUNCT
issue-791	68	14	into	into	ADP
issue-791	68	15	the	the	DET
issue-791	68	16	shadow	shadow	NOUN
issue-791	68	17	sector	sector	NOUN
issue-791	68	18	is	be	AUX
issue-791	68	19	equal	equal	ADJ
issue-791	68	20	to	to	ADP
issue-791	68	21	the	the	DET
issue-791	68	22	amount	amount	NOUN
issue-791	68	23	of	of	ADP
issue-791	68	24	hidden	hidden	ADJ
issue-791	68	25	(	(	PUNCT
issue-791	68	26	implicit	implicit	ADJ
issue-791	68	27	)	)	PUNCT
issue-791	68	28	costs	cost	NOUN
issue-791	68	29	of	of	ADP
issue-791	68	30	capital	capital	NOUN
issue-791	68	31	.	.	PUNCT
issue-791	69	1	the	the	DET
issue-791	69	2	largest	large	ADJ
issue-791	69	3	share	share	NOUN
issue-791	69	4	of	of	ADP
issue-791	69	5	the	the	DET
issue-791	69	6	baltic	baltic	ADJ
issue-791	69	7	journal	journal	PROPN
issue-791	69	8	of	of	ADP
issue-791	69	9	economic	economic	ADJ
issue-791	69	10	studies	study	NOUN
issue-791	69	11	63	63	NUM
issue-791	69	12	vol	vol	NOUN
issue-791	69	13	.	.	PROPN
issue-791	70	1	6	6	NUM
issue-791	70	2	,	,	PUNCT
issue-791	70	3	no	no	INTJ
issue-791	70	4	.	.	NOUN
issue-791	70	5	2	2	NUM
issue-791	70	6	,	,	PUNCT
issue-791	70	7	2020	2020	NUM
issue-791	70	8	shadow	shadow	NOUN
issue-791	70	9	economy	economy	NOUN
issue-791	70	10	's	's	PART
issue-791	70	11	income	income	NOUN
issue-791	70	12	is	be	AUX
issue-791	70	13	generated	generate	VERB
issue-791	70	14	through	through	ADP
issue-791	70	15	the	the	DET
issue-791	70	16	concealment	concealment	NOUN
issue-791	70	17	of	of	ADP
issue-791	70	18	equity	equity	NOUN
issue-791	70	19	costs	cost	NOUN
issue-791	70	20	.	.	PUNCT
issue-791	71	1	the	the	DET
issue-791	71	2	cost	cost	NOUN
issue-791	71	3	of	of	ADP
issue-791	71	4	equity	equity	NOUN
issue-791	71	5	for	for	ADP
issue-791	71	6	companies	company	NOUN
issue-791	71	7	operating	operate	VERB
issue-791	71	8	on	on	ADP
issue-791	71	9	em	em	PRON
issue-791	71	10	is	be	AUX
issue-791	71	11	largely	largely	ADV
issue-791	71	12	implicit	implicit	ADJ
issue-791	71	13	(	(	PUNCT
issue-791	71	14	hidden	hidden	ADJ
issue-791	71	15	or	or	CCONJ
issue-791	71	16	shadow	shadow	NOUN
issue-791	71	17	)	)	PUNCT
issue-791	71	18	.	.	PUNCT
issue-791	72	1	it	it	PRON
issue-791	72	2	is	be	AUX
issue-791	72	3	about	about	ADP
issue-791	72	4	undeclared	undeclared	ADJ
issue-791	72	5	incomes	income	NOUN
issue-791	72	6	that	that	PRON
issue-791	72	7	are	be	AUX
issue-791	72	8	either	either	ADV
issue-791	72	9	incomplete	incomplete	ADJ
issue-791	72	10	or	or	CCONJ
issue-791	72	11	missing	miss	VERB
issue-791	72	12	in	in	ADP
issue-791	72	13	the	the	DET
issue-791	72	14	official	official	ADJ
issue-791	72	15	reporting	reporting	NOUN
issue-791	72	16	.	.	PUNCT
issue-791	73	1	the	the	DET
issue-791	73	2	scientific	scientific	ADJ
issue-791	73	3	task	task	NOUN
issue-791	73	4	is	be	AUX
issue-791	73	5	to	to	PART
issue-791	73	6	justify	justify	VERB
issue-791	73	7	the	the	DET
issue-791	73	8	instruments	instrument	NOUN
issue-791	73	9	for	for	ADP
issue-791	73	10	estimating	estimate	VERB
issue-791	73	11	the	the	DET
issue-791	73	12	amount	amount	NOUN
issue-791	73	13	of	of	ADP
issue-791	73	14	the	the	DET
issue-791	73	15	cost	cost	NOUN
issue-791	73	16	of	of	ADP
issue-791	73	17	capital	capital	NOUN
issue-791	73	18	output	output	NOUN
issue-791	73	19	in	in	ADP
issue-791	73	20	the	the	DET
issue-791	73	21	shadow	shadow	NOUN
issue-791	73	22	sector	sector	NOUN
issue-791	73	23	,	,	PUNCT
issue-791	73	24	as	as	ADV
issue-791	73	25	well	well	ADV
issue-791	73	26	as	as	ADP
issue-791	73	27	to	to	PART
issue-791	73	28	develop	develop	VERB
issue-791	73	29	recommendations	recommendation	NOUN
issue-791	73	30	on	on	ADP
issue-791	73	31	the	the	DET
issue-791	73	32	anti	anti	ADJ
issue-791	73	33	-	-	ADJ
issue-791	73	34	shadowing	shadowing	NOUN
issue-791	73	35	of	of	ADP
issue-791	73	36	capital	capital	NOUN
issue-791	73	37	expenditures	expenditure	NOUN
issue-791	73	38	.	.	PUNCT
issue-791	74	1	the	the	DET
issue-791	74	2	aim	aim	NOUN
issue-791	74	3	of	of	ADP
issue-791	74	4	the	the	DET
issue-791	74	5	study	study	NOUN
issue-791	74	6	is	be	AUX
issue-791	74	7	to	to	PART
issue-791	74	8	substantiate	substantiate	VERB
issue-791	74	9	the	the	DET
issue-791	74	10	method	method	NOUN
issue-791	74	11	of	of	ADP
issue-791	74	12	calculating	calculate	VERB
issue-791	74	13	the	the	DET
issue-791	74	14	shadowing	shadowing	NOUN
issue-791	74	15	of	of	ADP
issue-791	74	16	legal	legal	ADJ
issue-791	74	17	business	business	NOUN
issue-791	74	18	income	income	NOUN
issue-791	74	19	on	on	ADP
issue-791	74	20	the	the	DET
issue-791	74	21	basis	basis	NOUN
issue-791	74	22	of	of	ADP
issue-791	74	23	the	the	DET
issue-791	74	24	method	method	NOUN
issue-791	74	25	of	of	ADP
issue-791	74	26	the	the	DET
issue-791	74	27	shadow	shadow	NOUN
issue-791	74	28	cost	cost	NOUN
issue-791	74	29	rate	rate	NOUN
issue-791	74	30	of	of	ADP
issue-791	74	31	invested	invest	VERB
issue-791	74	32	(	(	PUNCT
issue-791	74	33	equity	equity	NOUN
issue-791	74	34	)	)	PUNCT
issue-791	74	35	capital	capital	NOUN
issue-791	74	36	.	.	PUNCT
issue-791	75	1	3	3	X
issue-791	75	2	.	.	NOUN
issue-791	75	3	results	result	NOUN
issue-791	75	4	and	and	CCONJ
issue-791	75	5	discussion	discussion	NOUN
issue-791	75	6	the	the	DET
issue-791	75	7	proposed	propose	VERB
issue-791	75	8	approach	approach	NOUN
issue-791	75	9	to	to	ADP
issue-791	75	10	the	the	DET
issue-791	75	11	calculation	calculation	NOUN
issue-791	75	12	of	of	ADP
issue-791	75	13	the	the	DET
issue-791	75	14	size	size	NOUN
issue-791	75	15	of	of	ADP
issue-791	75	16	shadow	shadow	NOUN
issue-791	75	17	income	income	NOUN
issue-791	75	18	is	be	AUX
issue-791	75	19	based	base	VERB
issue-791	75	20	on	on	ADP
issue-791	75	21	determining	determine	VERB
issue-791	75	22	the	the	DET
issue-791	75	23	expectations	expectation	NOUN
issue-791	75	24	of	of	ADP
issue-791	75	25	economic	economic	ADJ
issue-791	75	26	entities	entity	NOUN
issue-791	75	27	on	on	ADP
issue-791	75	28	the	the	DET
issue-791	75	29	return	return	NOUN
issue-791	75	30	on	on	ADP
issue-791	75	31	investment	investment	NOUN
issue-791	75	32	and	and	CCONJ
issue-791	75	33	their	their	PRON
issue-791	75	34	motivation	motivation	NOUN
issue-791	75	35	for	for	ADP
issue-791	75	36	shadow	shadow	NOUN
issue-791	75	37	transactions	transaction	NOUN
issue-791	75	38	.	.	PUNCT
issue-791	76	1	this	this	PRON
issue-791	76	2	requires	require	VERB
issue-791	76	3	structuring	structure	VERB
issue-791	76	4	the	the	DET
issue-791	76	5	components	component	NOUN
issue-791	76	6	of	of	ADP
issue-791	76	7	the	the	DET
issue-791	76	8	shadow	shadow	NOUN
issue-791	76	9	economy	economy	NOUN
issue-791	76	10	and	and	CCONJ
issue-791	76	11	examine	examine	VERB
issue-791	76	12	them	they	PRON
issue-791	76	13	at	at	ADP
issue-791	76	14	the	the	DET
issue-791	76	15	angle	angle	NOUN
issue-791	76	16	of	of	ADP
issue-791	76	17	the	the	DET
issue-791	76	18	classic	classic	ADJ
issue-791	76	19	risk	risk	NOUN
issue-791	76	20	/	/	SYM
issue-791	76	21	return	return	NOUN
issue-791	76	22	ratio	ratio	NOUN
issue-791	76	23	.	.	PUNCT
issue-791	77	1	the	the	DET
issue-791	77	2	size	size	NOUN
issue-791	77	3	of	of	ADP
issue-791	77	4	the	the	DET
issue-791	77	5	shadow	shadow	NOUN
issue-791	77	6	economy	economy	NOUN
issue-791	77	7	and	and	CCONJ
issue-791	77	8	the	the	DET
issue-791	77	9	amount	amount	NOUN
issue-791	77	10	of	of	ADP
issue-791	77	11	output	output	NOUN
issue-791	77	12	of	of	ADP
issue-791	77	13	the	the	DET
issue-791	77	14	shadow	shadow	NOUN
issue-791	77	15	sector	sector	NOUN
issue-791	77	16	directly	directly	ADV
issue-791	77	17	depend	depend	VERB
issue-791	77	18	on	on	ADP
issue-791	77	19	the	the	DET
issue-791	77	20	set	set	NOUN
issue-791	77	21	of	of	ADP
issue-791	77	22	macro	macro	ADJ
issue-791	77	23	and	and	CCONJ
issue-791	77	24	microeconomic	microeconomic	ADJ
issue-791	77	25	risks	risk	NOUN
issue-791	77	26	that	that	PRON
issue-791	77	27	accompany	accompany	VERB
issue-791	77	28	the	the	DET
issue-791	77	29	financial	financial	ADJ
issue-791	77	30	and	and	CCONJ
issue-791	77	31	economic	economic	ADJ
issue-791	77	32	activities	activity	NOUN
issue-791	77	33	of	of	ADP
issue-791	77	34	enterprises	enterprise	NOUN
issue-791	77	35	.	.	PUNCT
issue-791	78	1	the	the	DET
issue-791	78	2	risk	risk	NOUN
issue-791	78	3	indicator	indicator	NOUN
issue-791	78	4	of	of	ADP
issue-791	78	5	investing	invest	VERB
issue-791	78	6	in	in	ADP
issue-791	78	7	an	an	DET
issue-791	78	8	asset	asset	NOUN
issue-791	78	9	is	be	AUX
issue-791	78	10	the	the	DET
issue-791	78	11	interest	interest	NOUN
issue-791	78	12	rate	rate	NOUN
issue-791	78	13	at	at	ADP
issue-791	78	14	which	which	PRON
issue-791	78	15	equity	equity	NOUN
issue-791	78	16	is	be	AUX
issue-791	78	17	invested	invest	VERB
issue-791	78	18	.	.	PUNCT
issue-791	79	1	interest	interest	NOUN
issue-791	79	2	rates	rate	NOUN
issue-791	79	3	reflect	reflect	VERB
issue-791	79	4	employment	employment	NOUN
issue-791	79	5	and	and	CCONJ
issue-791	79	6	wages	wage	NOUN
issue-791	79	7	,	,	PUNCT
issue-791	79	8	prices	price	NOUN
issue-791	79	9	,	,	PUNCT
issue-791	79	10	investment	investment	NOUN
issue-791	79	11	and	and	CCONJ
issue-791	79	12	business	business	NOUN
issue-791	79	13	activity	activity	NOUN
issue-791	79	14	.	.	PUNCT
issue-791	80	1	high	high	ADJ
issue-791	80	2	local	local	ADJ
issue-791	80	3	risks	risk	NOUN
issue-791	80	4	lead	lead	VERB
issue-791	80	5	to	to	ADP
issue-791	80	6	a	a	DET
issue-791	80	7	high	high	ADJ
issue-791	80	8	expected	expect	VERB
issue-791	80	9	market	market	NOUN
issue-791	80	10	risk	risk	NOUN
issue-791	80	11	premium	premium	NOUN
issue-791	80	12	that	that	PRON
issue-791	80	13	can	can	AUX
issue-791	80	14	not	not	PART
issue-791	80	15	be	be	AUX
issue-791	80	16	realized	realize	VERB
issue-791	80	17	by	by	ADP
issue-791	80	18	fully	fully	ADV
issue-791	80	19	operating	operate	VERB
issue-791	80	20	within	within	ADP
issue-791	80	21	the	the	DET
issue-791	80	22	formal	formal	ADJ
issue-791	80	23	sector	sector	NOUN
issue-791	80	24	.	.	PUNCT
issue-791	81	1	the	the	DET
issue-791	81	2	consequence	consequence	NOUN
issue-791	81	3	of	of	ADP
issue-791	81	4	this	this	PRON
issue-791	81	5	is	be	AUX
issue-791	81	6	the	the	DET
issue-791	81	7	shadowing	shadowing	NOUN
issue-791	81	8	of	of	ADP
issue-791	81	9	the	the	DET
issue-791	81	10	cost	cost	NOUN
issue-791	81	11	of	of	ADP
issue-791	81	12	capital	capital	NOUN
issue-791	81	13	(	(	PUNCT
issue-791	81	14	above	above	ADP
issue-791	81	15	all	all	DET
issue-791	81	16	equity	equity	NOUN
issue-791	81	17	)	)	PUNCT
issue-791	81	18	.	.	PUNCT
issue-791	82	1	a	a	DET
issue-791	82	2	specificity	specificity	NOUN
issue-791	82	3	of	of	ADP
issue-791	82	4	financing	finance	VERB
issue-791	82	5	a	a	DET
issue-791	82	6	business	business	NOUN
issue-791	82	7	in	in	ADP
issue-791	82	8	developing	develop	VERB
issue-791	82	9	markets	market	NOUN
issue-791	82	10	is	be	AUX
issue-791	82	11	equity	equity	NOUN
issue-791	82	12	raising	raising	NOUN
issue-791	82	13	on	on	ADP
issue-791	82	14	non	non	ADJ
issue-791	82	15	-	-	ADJ
issue-791	82	16	market	market	ADJ
issue-791	82	17	terms	term	NOUN
issue-791	82	18	.	.	PUNCT
issue-791	83	1	in	in	ADP
issue-791	83	2	the	the	DET
issue-791	83	3	context	context	NOUN
issue-791	83	4	of	of	ADP
issue-791	83	5	this	this	DET
issue-791	83	6	study	study	NOUN
issue-791	83	7	,	,	PUNCT
issue-791	83	8	non	non	ADJ
issue-791	83	9	-	-	ADJ
issue-791	83	10	market	market	ADJ
issue-791	83	11	terms	term	NOUN
issue-791	83	12	for	for	ADP
issue-791	83	13	raising	raise	VERB
issue-791	83	14	capital	capital	NOUN
issue-791	83	15	arise	arise	NOUN
issue-791	83	16	in	in	ADP
issue-791	83	17	the	the	DET
issue-791	83	18	case	case	NOUN
issue-791	83	19	of	of	ADP
issue-791	83	20	shadow	shadow	NOUN
issue-791	83	21	cost	cost	NOUN
issue-791	83	22	of	of	ADP
issue-791	83	23	equity	equity	NOUN
issue-791	83	24	resulting	result	VERB
issue-791	83	25	from	from	ADP
issue-791	83	26	a	a	DET
issue-791	83	27	discrepancy	discrepancy	NOUN
issue-791	83	28	between	between	ADP
issue-791	83	29	the	the	DET
issue-791	83	30	official	official	ADJ
issue-791	83	31	capital	capital	NOUN
issue-791	83	32	charge	charge	NOUN
issue-791	83	33	and	and	CCONJ
issue-791	83	34	the	the	DET
issue-791	83	35	actual	actual	ADJ
issue-791	83	36	costs	cost	NOUN
issue-791	83	37	.	.	PUNCT
issue-791	84	1	the	the	DET
issue-791	84	2	shadow	shadow	NOUN
issue-791	84	3	cost	cost	NOUN
issue-791	84	4	of	of	ADP
issue-791	84	5	equity	equity	NOUN
issue-791	84	6	is	be	AUX
issue-791	84	7	transformed	transform	VERB
issue-791	84	8	into	into	ADP
issue-791	84	9	revenues	revenue	NOUN
issue-791	84	10	of	of	ADP
issue-791	84	11	the	the	DET
issue-791	84	12	shadow	shadow	NOUN
issue-791	84	13	economy	economy	NOUN
issue-791	84	14	and	and	CCONJ
issue-791	84	15	generate	generate	VERB
issue-791	84	16	the	the	DET
issue-791	84	17	vast	vast	ADJ
issue-791	84	18	majority	majority	NOUN
issue-791	84	19	.	.	PUNCT
issue-791	85	1	the	the	DET
issue-791	85	2	transfer	transfer	NOUN
issue-791	85	3	of	of	ADP
issue-791	85	4	the	the	DET
issue-791	85	5	cost	cost	NOUN
issue-791	85	6	of	of	ADP
issue-791	85	7	equity	equity	NOUN
issue-791	85	8	to	to	ADP
issue-791	85	9	the	the	DET
issue-791	85	10	shadow	shadow	NOUN
issue-791	85	11	sector	sector	NOUN
issue-791	85	12	is	be	AUX
issue-791	85	13	primarily	primarily	ADV
issue-791	85	14	related	relate	VERB
issue-791	85	15	to	to	ADP
issue-791	85	16	tax	tax	NOUN
issue-791	85	17	evasion	evasion	NOUN
issue-791	85	18	,	,	PUNCT
issue-791	85	19	which	which	PRON
issue-791	85	20	in	in	ADP
issue-791	85	21	one	one	NUM
issue-791	85	22	way	way	NOUN
issue-791	85	23	or	or	CCONJ
issue-791	85	24	another	another	PRON
issue-791	85	25	violates	violate	VERB
issue-791	85	26	the	the	DET
issue-791	85	27	market	market	NOUN
issue-791	85	28	terms	term	NOUN
issue-791	85	29	for	for	ADP
issue-791	85	30	raising	raise	VERB
issue-791	85	31	and	and	CCONJ
issue-791	85	32	servicing	servicing	NOUN
issue-791	85	33	capital	capital	NOUN
issue-791	85	34	.	.	PUNCT
issue-791	86	1	in	in	ADP
issue-791	86	2	countries	country	NOUN
issue-791	86	3	with	with	ADP
issue-791	86	4	a	a	DET
issue-791	86	5	distorted	distorted	ADJ
issue-791	86	6	financial	financial	ADJ
issue-791	86	7	market	market	NOUN
issue-791	86	8	,	,	PUNCT
issue-791	86	9	there	there	PRON
issue-791	86	10	are	be	VERB
issue-791	86	11	well	well	ADV
issue-791	86	12	-	-	PUNCT
issue-791	86	13	established	establish	VERB
issue-791	86	14	schemes	scheme	NOUN
issue-791	86	15	for	for	ADP
issue-791	86	16	transferring	transfer	VERB
issue-791	86	17	cost	cost	NOUN
issue-791	86	18	of	of	ADP
issue-791	86	19	equity	equity	NOUN
issue-791	86	20	to	to	ADP
issue-791	86	21	the	the	DET
issue-791	86	22	shadow	shadow	NOUN
issue-791	86	23	sector	sector	NOUN
issue-791	86	24	.	.	PUNCT
issue-791	87	1	for	for	ADP
issue-791	87	2	these	these	DET
issue-791	87	3	purposes	purpose	NOUN
issue-791	87	4	,	,	PUNCT
issue-791	87	5	big	big	ADJ
issue-791	87	6	business	business	NOUN
issue-791	87	7	primarily	primarily	ADV
issue-791	87	8	uses	use	VERB
issue-791	87	9	offshore	offshore	ADJ
issue-791	87	10	zones	zone	NOUN
issue-791	87	11	,	,	PUNCT
issue-791	87	12	and	and	CCONJ
issue-791	87	13	small	small	ADJ
issue-791	87	14	business	business	NOUN
issue-791	87	15	uses	use	VERB
issue-791	87	16	private	private	ADJ
issue-791	87	17	entrepreneurs	entrepreneur	NOUN
issue-791	87	18	,	,	PUNCT
issue-791	87	19	various	various	ADJ
issue-791	87	20	forms	form	NOUN
issue-791	87	21	of	of	ADP
issue-791	87	22	providing	provide	VERB
issue-791	87	23	bogus	bogus	ADJ
issue-791	87	24	services	service	NOUN
issue-791	87	25	or	or	CCONJ
issue-791	87	26	making	make	VERB
issue-791	87	27	bogus	bogus	ADJ
issue-791	87	28	costs	cost	NOUN
issue-791	87	29	.	.	PUNCT
issue-791	88	1	the	the	DET
issue-791	88	2	proposed	propose	VERB
issue-791	88	3	approach	approach	NOUN
issue-791	88	4	to	to	ADP
issue-791	88	5	estimating	estimate	VERB
issue-791	88	6	the	the	DET
issue-791	88	7	size	size	NOUN
issue-791	88	8	of	of	ADP
issue-791	88	9	the	the	DET
issue-791	88	10	shadow	shadow	NOUN
issue-791	88	11	sector	sector	NOUN
issue-791	88	12	requires	require	VERB
issue-791	88	13	utilising	utilise	VERB
issue-791	88	14	information	information	NOUN
issue-791	88	15	on	on	ADP
issue-791	88	16	the	the	DET
issue-791	88	17	total	total	ADJ
issue-791	88	18	official	official	ADJ
issue-791	88	19	payments	payment	NOUN
issue-791	88	20	within	within	ADP
issue-791	88	21	the	the	DET
issue-791	88	22	framework	framework	NOUN
issue-791	88	23	of	of	ADP
issue-791	88	24	the	the	DET
issue-791	88	25	cost	cost	NOUN
issue-791	88	26	of	of	ADP
issue-791	88	27	equity	equity	NOUN
issue-791	88	28	in	in	ADP
issue-791	88	29	terms	term	NOUN
issue-791	88	30	of	of	ADP
issue-791	88	31	its	its	PRON
issue-791	88	32	individual	individual	ADJ
issue-791	88	33	categories	category	NOUN
issue-791	88	34	and	and	CCONJ
issue-791	88	35	the	the	DET
issue-791	88	36	rate	rate	NOUN
issue-791	88	37	of	of	ADP
issue-791	88	38	return	return	NOUN
issue-791	88	39	expected	expect	VERB
issue-791	88	40	by	by	ADP
issue-791	88	41	capitalists	capitalist	NOUN
issue-791	88	42	.	.	PUNCT
issue-791	89	1	the	the	DET
issue-791	89	2	source	source	NOUN
issue-791	89	3	of	of	ADP
issue-791	89	4	the	the	DET
issue-791	89	5	official	official	ADJ
issue-791	89	6	cost	cost	NOUN
issue-791	89	7	of	of	ADP
issue-791	89	8	equity	equity	NOUN
issue-791	89	9	is	be	AUX
issue-791	89	10	reported	report	VERB
issue-791	89	11	net	net	ADJ
issue-791	89	12	income	income	NOUN
issue-791	89	13	,	,	PUNCT
issue-791	89	14	and	and	CCONJ
issue-791	89	15	the	the	DET
issue-791	89	16	channels	channel	NOUN
issue-791	89	17	of	of	ADP
issue-791	89	18	remuneration	remuneration	NOUN
issue-791	89	19	are	be	AUX
issue-791	89	20	dividends	dividend	NOUN
issue-791	89	21	and	and	CCONJ
issue-791	89	22	gains	gain	NOUN
issue-791	89	23	in	in	ADP
issue-791	89	24	the	the	DET
issue-791	89	25	market	market	NOUN
issue-791	89	26	value	value	NOUN
issue-791	89	27	of	of	ADP
issue-791	89	28	corporate	corporate	ADJ
issue-791	89	29	rights	right	NOUN
issue-791	89	30	.	.	PUNCT
issue-791	90	1	the	the	DET
issue-791	90	2	latter	latter	ADJ
issue-791	90	3	is	be	AUX
issue-791	90	4	the	the	DET
issue-791	90	5	result	result	NOUN
issue-791	90	6	of	of	ADP
issue-791	90	7	income	income	NOUN
issue-791	90	8	hoarding	hoarding	NOUN
issue-791	90	9	and	and	CCONJ
issue-791	90	10	increase	increase	VERB
issue-791	90	11	in	in	ADP
issue-791	90	12	market	market	NOUN
issue-791	90	13	value	value	NOUN
issue-791	90	14	of	of	ADP
issue-791	90	15	the	the	DET
issue-791	90	16	enterprise	enterprise	NOUN
issue-791	90	17	.	.	PUNCT
issue-791	91	1	therefore	therefore	ADV
issue-791	91	2	,	,	PUNCT
issue-791	91	3	the	the	DET
issue-791	91	4	cost	cost	NOUN
issue-791	91	5	of	of	ADP
issue-791	91	6	equity	equity	NOUN
issue-791	91	7	,	,	PUNCT
issue-791	91	8	recorded	record	VERB
issue-791	91	9	in	in	ADP
issue-791	91	10	the	the	DET
issue-791	91	11	financial	financial	ADJ
issue-791	91	12	statements	statement	NOUN
issue-791	91	13	,	,	PUNCT
issue-791	91	14	will	will	AUX
issue-791	91	15	be	be	AUX
issue-791	91	16	consistent	consistent	ADJ
issue-791	91	17	with	with	ADP
issue-791	91	18	the	the	DET
issue-791	91	19	return	return	NOUN
issue-791	91	20	on	on	ADP
issue-791	91	21	equity	equity	NOUN
issue-791	91	22	invested	invest	VERB
issue-791	91	23	in	in	ADP
issue-791	91	24	the	the	DET
issue-791	91	25	enterprise	enterprise	NOUN
issue-791	91	26	.	.	PUNCT
issue-791	92	1	according	accord	VERB
issue-791	92	2	to	to	ADP
issue-791	92	3	our	our	PRON
issue-791	92	4	hypothesis	hypothesis	NOUN
issue-791	92	5	,	,	PUNCT
issue-791	92	6	the	the	DET
issue-791	92	7	size	size	NOUN
issue-791	92	8	of	of	ADP
issue-791	92	9	the	the	DET
issue-791	92	10	shadow	shadow	NOUN
issue-791	92	11	cost	cost	NOUN
issue-791	92	12	of	of	ADP
issue-791	92	13	equity	equity	NOUN
issue-791	92	14	(	(	PUNCT
issue-791	92	15	the	the	DET
issue-791	92	16	additional	additional	ADJ
issue-791	92	17	shadow	shadow	NOUN
issue-791	92	18	interest	interest	NOUN
issue-791	92	19	rate	rate	NOUN
issue-791	92	20	)	)	PUNCT
issue-791	92	21	corresponds	correspond	VERB
issue-791	92	22	to	to	ADP
issue-791	92	23	the	the	DET
issue-791	92	24	difference	difference	NOUN
issue-791	92	25	between	between	ADP
issue-791	92	26	the	the	DET
issue-791	92	27	rate	rate	NOUN
issue-791	92	28	determined	determine	VERB
issue-791	92	29	by	by	ADP
issue-791	92	30	indirect	indirect	ADJ
issue-791	92	31	methods	method	NOUN
issue-791	92	32	and	and	CCONJ
issue-791	92	33	cost	cost	NOUN
issue-791	92	34	of	of	ADP
issue-791	92	35	capital	capital	NOUN
issue-791	92	36	officially	officially	ADV
issue-791	92	37	reported	report	VERB
issue-791	92	38	.	.	PUNCT
issue-791	93	1	the	the	DET
issue-791	93	2	latter	latter	ADJ
issue-791	93	3	correspond	correspond	NOUN
issue-791	93	4	to	to	ADP
issue-791	93	5	the	the	DET
issue-791	93	6	officially	officially	ADV
issue-791	93	7	declared	declare	VERB
issue-791	93	8	net	net	ADJ
issue-791	93	9	profit	profit	NOUN
issue-791	93	10	of	of	ADP
issue-791	93	11	the	the	DET
issue-791	93	12	enterprise	enterprise	NOUN
issue-791	93	13	.	.	PUNCT
issue-791	94	1	other	other	ADJ
issue-791	94	2	assumptions	assumption	NOUN
issue-791	94	3	underlying	underlie	VERB
issue-791	94	4	the	the	DET
issue-791	94	5	study	study	NOUN
issue-791	94	6	are	be	AUX
issue-791	94	7	as	as	SCONJ
issue-791	94	8	follows	follow	VERB
issue-791	94	9	:	:	PUNCT
issue-791	94	10	–	–	PUNCT
issue-791	94	11	shadowing	shadow	VERB
issue-791	94	12	of	of	ADP
issue-791	94	13	the	the	DET
issue-791	94	14	enterprise	enterprise	NOUN
issue-791	94	15	's	's	PART
issue-791	94	16	income	income	NOUN
issue-791	94	17	is	be	AUX
issue-791	94	18	carried	carry	VERB
issue-791	94	19	out	out	ADP
issue-791	94	20	with	with	ADP
issue-791	94	21	the	the	DET
issue-791	94	22	knowledge	knowledge	NOUN
issue-791	94	23	of	of	ADP
issue-791	94	24	its	its	PRON
issue-791	94	25	key	key	ADJ
issue-791	94	26	shareholders	shareholder	NOUN
issue-791	94	27	;	;	PUNCT
issue-791	94	28	–	–	PUNCT
issue-791	94	29	undeclared	undeclared	ADJ
issue-791	94	30	corporate	corporate	ADJ
issue-791	94	31	income	income	NOUN
issue-791	94	32	is	be	AUX
issue-791	94	33	almost	almost	ADV
issue-791	94	34	entirely	entirely	ADV
issue-791	94	35	used	use	VERB
issue-791	94	36	as	as	ADP
issue-791	94	37	a	a	DET
issue-791	94	38	payment	payment	NOUN
issue-791	94	39	to	to	ADP
issue-791	94	40	the	the	DET
issue-791	94	41	shareholders	shareholder	NOUN
issue-791	94	42	for	for	ADP
issue-791	94	43	equity	equity	NOUN
issue-791	94	44	;	;	PUNCT
issue-791	94	45	–	–	PUNCT
issue-791	94	46	enterprises	enterprise	NOUN
issue-791	94	47	generate	generate	VERB
issue-791	94	48	value	value	NOUN
issue-791	94	49	using	use	VERB
issue-791	94	50	legally	legally	ADV
issue-791	94	51	invested	invest	VERB
issue-791	94	52	capital	capital	NOUN
issue-791	94	53	;	;	PUNCT
issue-791	94	54	–	–	PUNCT
issue-791	94	55	economic	economic	ADJ
issue-791	94	56	agents	agent	NOUN
issue-791	94	57	have	have	VERB
issue-791	94	58	no	no	DET
issue-791	94	59	incentive	incentive	NOUN
issue-791	94	60	to	to	PART
issue-791	94	61	manipulate	manipulate	VERB
issue-791	94	62	the	the	DET
issue-791	94	63	value	value	NOUN
issue-791	94	64	of	of	ADP
issue-791	94	65	assets	asset	NOUN
issue-791	94	66	and	and	CCONJ
issue-791	94	67	the	the	DET
issue-791	94	68	amount	amount	NOUN
issue-791	94	69	of	of	ADP
issue-791	94	70	invested	invest	VERB
issue-791	94	71	capital	capital	NOUN
issue-791	94	72	;	;	PUNCT
issue-791	94	73	–	–	PUNCT
issue-791	94	74	the	the	DET
issue-791	94	75	total	total	ADJ
issue-791	94	76	amount	amount	NOUN
issue-791	94	77	of	of	ADP
issue-791	94	78	official	official	NOUN
issue-791	94	79	and	and	CCONJ
issue-791	94	80	the	the	DET
issue-791	94	81	shadow	shadow	NOUN
issue-791	94	82	cost	cost	NOUN
issue-791	94	83	of	of	ADP
issue-791	94	84	equity	equity	NOUN
issue-791	94	85	correspond	correspond	NOUN
issue-791	94	86	to	to	ADP
issue-791	94	87	the	the	DET
issue-791	94	88	expected	expect	VERB
issue-791	94	89	market	market	NOUN
issue-791	94	90	interest	interest	NOUN
issue-791	94	91	rate	rate	NOUN
issue-791	94	92	,	,	PUNCT
issue-791	94	93	which	which	PRON
issue-791	94	94	is	be	AUX
issue-791	94	95	determined	determine	VERB
issue-791	94	96	by	by	ADP
issue-791	94	97	one	one	NUM
issue-791	94	98	of	of	ADP
issue-791	94	99	the	the	DET
issue-791	94	100	capm	capm	PROPN
issue-791	94	101	modifications	modification	NOUN
issue-791	94	102	for	for	ADP
issue-791	94	103	developing	develop	VERB
issue-791	94	104	markets	market	NOUN
issue-791	94	105	.	.	PUNCT
issue-791	95	1	we	we	PRON
issue-791	95	2	assume	assume	VERB
issue-791	95	3	that	that	SCONJ
issue-791	95	4	income	income	NOUN
issue-791	95	5	shadowing	shadow	VERB
issue-791	95	6	is	be	AUX
issue-791	95	7	a	a	DET
issue-791	95	8	business	business	NOUN
issue-791	95	9	response	response	NOUN
issue-791	95	10	to	to	ADP
issue-791	95	11	the	the	DET
issue-791	95	12	additional	additional	ADJ
issue-791	95	13	risks	risk	NOUN
issue-791	95	14	and	and	CCONJ
issue-791	95	15	threats	threat	NOUN
issue-791	95	16	to	to	ADP
issue-791	95	17	it	it	PRON
issue-791	95	18	.	.	PUNCT
issue-791	96	1	the	the	DET
issue-791	96	2	shadow	shadow	NOUN
issue-791	96	3	economy	economy	NOUN
issue-791	96	4	component	component	NOUN
issue-791	96	5	of	of	ADP
issue-791	96	6	income	income	NOUN
issue-791	96	7	shadowing	shadowing	NOUN
issue-791	96	8	is	be	AUX
issue-791	96	9	suggested	suggest	VERB
issue-791	96	10	to	to	PART
issue-791	96	11	be	be	AUX
issue-791	96	12	determined	determine	VERB
issue-791	96	13	on	on	ADP
issue-791	96	14	the	the	DET
issue-791	96	15	basis	basis	NOUN
issue-791	96	16	of	of	ADP
issue-791	96	17	the	the	DET
issue-791	96	18	transformation	transformation	NOUN
issue-791	96	19	of	of	ADP
issue-791	96	20	the	the	DET
issue-791	96	21	shadow	shadow	NOUN
issue-791	96	22	rate	rate	NOUN
issue-791	96	23	of	of	ADP
issue-791	96	24	cost	cost	NOUN
issue-791	96	25	of	of	ADP
issue-791	96	26	equity	equity	NOUN
issue-791	96	27	into	into	ADP
issue-791	96	28	the	the	DET
issue-791	96	29	absolute	absolute	ADJ
issue-791	96	30	amount	amount	NOUN
issue-791	96	31	of	of	ADP
issue-791	96	32	undeclared	undeclared	ADJ
issue-791	96	33	income	income	NOUN
issue-791	96	34	.	.	PUNCT
issue-791	97	1	the	the	DET
issue-791	97	2	shadow	shadow	NOUN
issue-791	97	3	rate	rate	NOUN
issue-791	97	4	of	of	ADP
issue-791	97	5	cost	cost	NOUN
issue-791	97	6	of	of	ADP
issue-791	97	7	equity	equity	NOUN
issue-791	97	8	is	be	AUX
issue-791	97	9	calculated	calculate	VERB
issue-791	97	10	as	as	SCONJ
issue-791	97	11	the	the	DET
issue-791	97	12	difference	difference	NOUN
issue-791	97	13	between	between	ADP
issue-791	97	14	the	the	DET
issue-791	97	15	expected	expect	VERB
issue-791	97	16	market	market	NOUN
issue-791	97	17	rate	rate	NOUN
issue-791	97	18	of	of	ADP
issue-791	97	19	cost	cost	NOUN
issue-791	97	20	of	of	ADP
issue-791	97	21	equity	equity	NOUN
issue-791	97	22	and	and	CCONJ
issue-791	97	23	the	the	DET
issue-791	97	24	return	return	NOUN
issue-791	97	25	on	on	ADP
issue-791	97	26	equity	equity	NOUN
issue-791	97	27	invested	invest	VERB
issue-791	97	28	that	that	PRON
issue-791	97	29	is	be	AUX
issue-791	97	30	determined	determine	VERB
issue-791	97	31	according	accord	VERB
issue-791	97	32	to	to	ADP
issue-791	97	33	official	official	ADJ
issue-791	97	34	reporting	reporting	NOUN
issue-791	97	35	.	.	PUNCT
issue-791	98	1	it	it	PRON
issue-791	98	2	is	be	AUX
issue-791	98	3	of	of	ADP
issue-791	98	4	importance	importance	NOUN
issue-791	98	5	to	to	PART
issue-791	98	6	ground	ground	VERB
issue-791	98	7	the	the	DET
issue-791	98	8	key	key	ADJ
issue-791	98	9	parameters	parameter	NOUN
issue-791	98	10	of	of	ADP
issue-791	98	11	the	the	DET
issue-791	98	12	model	model	NOUN
issue-791	98	13	of	of	ADP
issue-791	98	14	calculating	calculate	VERB
issue-791	98	15	the	the	DET
issue-791	98	16	expected	expect	VERB
issue-791	98	17	cost	cost	NOUN
issue-791	98	18	of	of	ADP
issue-791	98	19	equity	equity	NOUN
issue-791	98	20	capital	capital	NOUN
issue-791	98	21	totally	totally	ADV
issue-791	98	22	in	in	ADP
issue-791	98	23	the	the	DET
issue-791	98	24	corporate	corporate	ADJ
issue-791	98	25	sector	sector	NOUN
issue-791	98	26	of	of	ADP
issue-791	98	27	the	the	DET
issue-791	98	28	economy	economy	NOUN
issue-791	98	29	.	.	PUNCT
issue-791	99	1	according	accord	VERB
issue-791	99	2	to	to	ADP
issue-791	99	3	the	the	DET
issue-791	99	4	well	well	ADV
issue-791	99	5	-	-	PUNCT
issue-791	99	6	known	know	VERB
issue-791	99	7	capm	capm	NOUN
issue-791	99	8	model	model	NOUN
issue-791	99	9	,	,	PUNCT
issue-791	99	10	investors	investor	NOUN
issue-791	99	11	'	'	PART
issue-791	99	12	expected	expect	VERB
issue-791	99	13	rate	rate	NOUN
issue-791	99	14	of	of	ADP
issue-791	99	15	return	return	NOUN
issue-791	99	16	on	on	ADP
issue-791	99	17	investment	investment	NOUN
issue-791	99	18	depends	depend	VERB
issue-791	99	19	on	on	ADP
issue-791	99	20	the	the	DET
issue-791	99	21	risk	risk	NOUN
issue-791	99	22	-	-	PUNCT
issue-791	99	23	free	free	ADJ
issue-791	99	24	rate	rate	NOUN
issue-791	99	25	of	of	ADP
issue-791	99	26	return	return	NOUN
issue-791	99	27	,	,	PUNCT
issue-791	99	28	the	the	DET
issue-791	99	29	average	average	ADJ
issue-791	99	30	rate	rate	NOUN
issue-791	99	31	of	of	ADP
issue-791	99	32	return	return	NOUN
issue-791	99	33	on	on	ADP
issue-791	99	34	the	the	DET
issue-791	99	35	capital	capital	NOUN
issue-791	99	36	market	market	NOUN
issue-791	99	37	and	and	CCONJ
issue-791	99	38	the	the	DET
issue-791	99	39	systematic	systematic	ADJ
issue-791	99	40	risk	risk	NOUN
issue-791	99	41	of	of	ADP
issue-791	99	42	investing	invest	VERB
issue-791	99	43	in	in	ADP
issue-791	99	44	a	a	DET
issue-791	99	45	specific	specific	ADJ
issue-791	99	46	asset	asset	NOUN
issue-791	99	47	.	.	PUNCT
issue-791	100	1	given	give	VERB
issue-791	100	2	calculating	calculate	VERB
issue-791	100	3	model	model	NOUN
issue-791	100	4	parameters	parameter	NOUN
issue-791	100	5	for	for	ADP
issue-791	100	6	underdeveloped	underdeveloped	ADJ
issue-791	100	7	countries	country	NOUN
issue-791	100	8	,	,	PUNCT
issue-791	100	9	additional	additional	ADJ
issue-791	100	10	difficulties	difficulty	NOUN
issue-791	100	11	arise	arise	VERB
issue-791	100	12	due	due	ADP
issue-791	100	13	to	to	ADP
issue-791	100	14	the	the	DET
issue-791	100	15	lack	lack	NOUN
issue-791	100	16	of	of	ADP
issue-791	100	17	a	a	DET
issue-791	100	18	credible	credible	ADJ
issue-791	100	19	database	database	NOUN
issue-791	100	20	,	,	PUNCT
issue-791	100	21	the	the	DET
issue-791	100	22	high	high	ADJ
issue-791	100	23	volatility	volatility	NOUN
issue-791	100	24	of	of	ADP
issue-791	100	25	the	the	DET
issue-791	100	26	local	local	ADJ
issue-791	100	27	stock	stock	NOUN
issue-791	100	28	market	market	NOUN
issue-791	100	29	or	or	CCONJ
issue-791	100	30	its	its	PRON
issue-791	100	31	illiquidity	illiquidity	NOUN
issue-791	100	32	,	,	PUNCT
issue-791	100	33	legal	legal	ADJ
issue-791	100	34	and	and	CCONJ
issue-791	100	35	macroeconomic	macroeconomic	ADJ
issue-791	100	36	uncertainty	uncertainty	NOUN
issue-791	100	37	,	,	PUNCT
issue-791	100	38	and	and	CCONJ
issue-791	100	39	a	a	DET
issue-791	100	40	number	number	NOUN
issue-791	100	41	of	of	ADP
issue-791	100	42	other	other	ADJ
issue-791	100	43	circumstances	circumstance	NOUN
issue-791	100	44	.	.	PUNCT
issue-791	101	1	under	under	ADP
issue-791	101	2	these	these	DET
issue-791	101	3	factors	factor	NOUN
issue-791	101	4	,	,	PUNCT
issue-791	101	5	an	an	DET
issue-791	101	6	average	average	NOUN
issue-791	101	7	em	em	PRON
issue-791	101	8	enterprise	enterprise	NOUN
issue-791	101	9	,	,	PUNCT
issue-791	101	10	for	for	ADP
issue-791	101	11	example	example	NOUN
issue-791	101	12	in	in	ADP
issue-791	101	13	ukraine	ukraine	NOUN
issue-791	101	14	,	,	PUNCT
issue-791	101	15	is	be	AUX
issue-791	101	16	at	at	ADP
issue-791	101	17	greater	great	ADJ
issue-791	101	18	risk	risk	NOUN
issue-791	101	19	than	than	ADP
issue-791	101	20	a	a	DET
issue-791	101	21	similar	similar	ADJ
issue-791	101	22	enterprise	enterprise	NOUN
issue-791	101	23	operating	operate	VERB
issue-791	101	24	in	in	ADP
issue-791	101	25	developed	develop	VERB
issue-791	101	26	markets	market	NOUN
issue-791	101	27	.	.	PUNCT
issue-791	102	1	according	accord	VERB
issue-791	102	2	to	to	ADP
issue-791	102	3	capm	capm	PROPN
issue-791	102	4	,	,	PUNCT
issue-791	102	5	these	these	DET
issue-791	102	6	additional	additional	ADJ
issue-791	102	7	risks	risk	NOUN
issue-791	102	8	are	be	AUX
issue-791	102	9	diversified	diversify	VERB
issue-791	102	10	and	and	CCONJ
issue-791	102	11	therefore	therefore	ADV
issue-791	102	12	,	,	PUNCT
issue-791	102	13	they	they	PRON
issue-791	102	14	are	be	AUX
issue-791	102	15	non	non	ADJ
issue-791	102	16	-	-	ADJ
issue-791	102	17	systematic	systematic	ADJ
issue-791	102	18	and	and	CCONJ
issue-791	102	19	do	do	AUX
issue-791	102	20	not	not	PART
issue-791	102	21	affect	affect	VERB
issue-791	102	22	the	the	DET
issue-791	102	23	valuation	valuation	NOUN
issue-791	102	24	of	of	ADP
issue-791	102	25	investments	investment	NOUN
issue-791	102	26	and	and	CCONJ
issue-791	102	27	assets	asset	NOUN
issue-791	102	28	.	.	PUNCT
issue-791	103	1	from	from	ADP
issue-791	103	2	a	a	DET
issue-791	103	3	theoretical	theoretical	ADJ
issue-791	103	4	point	point	NOUN
issue-791	103	5	of	of	ADP
issue-791	103	6	view	view	NOUN
issue-791	103	7	,	,	PUNCT
issue-791	103	8	it	it	PRON
issue-791	103	9	is	be	AUX
issue-791	103	10	appropriate	appropriate	ADJ
issue-791	103	11	to	to	PART
issue-791	103	12	consider	consider	VERB
issue-791	103	13	diversified	diversified	ADJ
issue-791	103	14	risks	risk	NOUN
issue-791	103	15	in	in	ADP
issue-791	103	16	the	the	DET
issue-791	103	17	monetary	monetary	ADJ
issue-791	103	18	flow	flow	NOUN
issue-791	103	19	forecasting	forecasting	NOUN
issue-791	103	20	process	process	NOUN
issue-791	103	21	(	(	PUNCT
issue-791	103	22	copeland	copeland	PROPN
issue-791	103	23	,	,	PUNCT
issue-791	103	24	koller	koller	PROPN
issue-791	103	25	&	&	CCONJ
issue-791	103	26	murrin	murrin	PROPN
issue-791	103	27	,	,	PUNCT
issue-791	103	28	2000	2000	NUM
issue-791	103	29	)	)	PUNCT
issue-791	103	30	.	.	PUNCT
issue-791	104	1	for	for	ADP
issue-791	104	2	non	non	ADJ
issue-791	104	3	-	-	ADJ
issue-791	104	4	systematic	systematic	ADJ
issue-791	104	5	risks	risk	NOUN
issue-791	104	6	,	,	PUNCT
issue-791	104	7	the	the	DET
issue-791	104	8	market	market	NOUN
issue-791	104	9	does	do	AUX
issue-791	104	10	not	not	PART
issue-791	104	11	pay	pay	VERB
issue-791	104	12	an	an	DET
issue-791	104	13	additional	additional	ADJ
issue-791	104	14	risk	risk	NOUN
issue-791	104	15	premium	premium	NOUN
issue-791	104	16	.	.	PUNCT
issue-791	105	1	in	in	ADP
issue-791	105	2	this	this	DET
issue-791	105	3	case	case	NOUN
issue-791	105	4	,	,	PUNCT
issue-791	105	5	the	the	DET
issue-791	105	6	allowance	allowance	NOUN
issue-791	105	7	baltic	baltic	PROPN
issue-791	105	8	journal	journal	PROPN
issue-791	105	9	of	of	ADP
issue-791	105	10	economic	economic	ADJ
issue-791	105	11	studies	study	NOUN
issue-791	105	12	64	64	NUM
issue-791	105	13	vol	vol	NOUN
issue-791	105	14	.	.	PROPN
issue-791	106	1	6	6	NUM
issue-791	106	2	,	,	PUNCT
issue-791	106	3	no	no	INTJ
issue-791	106	4	.	.	NOUN
issue-791	106	5	2	2	NUM
issue-791	106	6	,	,	PUNCT
issue-791	106	7	2020	2020	NUM
issue-791	106	8	(	(	PUNCT
issue-791	106	9	or	or	CCONJ
issue-791	106	10	discount	discount	NOUN
issue-791	106	11	)	)	PUNCT
issue-791	106	12	for	for	ADP
issue-791	106	13	the	the	DET
issue-791	106	14	additional	additional	ADJ
issue-791	106	15	risk	risk	NOUN
issue-791	106	16	premium	premium	NOUN
issue-791	106	17	should	should	AUX
issue-791	106	18	not	not	PART
issue-791	106	19	be	be	AUX
issue-791	106	20	considered	consider	VERB
issue-791	106	21	as	as	SCONJ
issue-791	106	22	the	the	DET
issue-791	106	23	relevant	relevant	ADJ
issue-791	106	24	risks	risk	NOUN
issue-791	106	25	are	be	AUX
issue-791	106	26	properly	properly	ADV
issue-791	106	27	taken	take	VERB
issue-791	106	28	into	into	ADP
issue-791	106	29	account	account	NOUN
issue-791	106	30	in	in	ADP
issue-791	106	31	determining	determine	VERB
issue-791	106	32	the	the	DET
issue-791	106	33	beta	beta	NOUN
issue-791	106	34	and	and	CCONJ
issue-791	106	35	market	market	NOUN
issue-791	106	36	risk	risk	NOUN
issue-791	106	37	premium	premium	NOUN
issue-791	106	38	(	(	PUNCT
issue-791	106	39	mrp	mrp	NOUN
issue-791	106	40	)	)	PUNCT
issue-791	106	41	.	.	PUNCT
issue-791	107	1	however	however	ADV
issue-791	107	2	,	,	PUNCT
issue-791	107	3	theoretically	theoretically	ADV
issue-791	107	4	perfect	perfect	ADJ
issue-791	107	5	сарм	сарм	NOUN
issue-791	107	6	is	be	AUX
issue-791	107	7	based	base	VERB
issue-791	107	8	on	on	ADP
issue-791	107	9	far	far	ADV
issue-791	107	10	-	-	PUNCT
issue-791	107	11	fetched	fetch	VERB
issue-791	107	12	assumptions	assumption	NOUN
issue-791	107	13	(	(	PUNCT
issue-791	107	14	tereshenko	tereshenko	NOUN
issue-791	107	15	,	,	PUNCT
issue-791	107	16	voloshanyk	voloshanyk	NOUN
issue-791	107	17	&	&	CCONJ
issue-791	107	18	savchuk	savchuk	PROPN
issue-791	107	19	,	,	PUNCT
issue-791	107	20	2019	2019	NUM
issue-791	107	21	)	)	PUNCT
issue-791	107	22	.	.	PUNCT
issue-791	108	1	in	in	ADP
issue-791	108	2	practice	practice	NOUN
issue-791	108	3	,	,	PUNCT
issue-791	108	4	an	an	DET
issue-791	108	5	approach	approach	NOUN
issue-791	108	6	,	,	PUNCT
issue-791	108	7	which	which	PRON
issue-791	108	8	takes	take	VERB
issue-791	108	9	at	at	ADP
issue-791	108	10	least	least	ADJ
issue-791	108	11	some	some	PRON
issue-791	108	12	of	of	ADP
issue-791	108	13	the	the	DET
issue-791	108	14	diversified	diversified	ADJ
issue-791	108	15	risks	risk	NOUN
issue-791	108	16	into	into	ADP
issue-791	108	17	the	the	DET
issue-791	108	18	rate	rate	NOUN
issue-791	108	19	of	of	ADP
issue-791	108	20	cost	cost	NOUN
issue-791	108	21	of	of	ADP
issue-791	108	22	equity	equity	NOUN
issue-791	108	23	,	,	PUNCT
issue-791	108	24	is	be	AUX
issue-791	108	25	applied	apply	VERB
issue-791	108	26	.	.	PUNCT
issue-791	109	1	considering	consider	VERB
issue-791	109	2	the	the	DET
issue-791	109	3	neoclassical	neoclassical	ADJ
issue-791	109	4	capm	capm	PROPN
issue-791	109	5	and	and	CCONJ
issue-791	109	6	a.	a.	NOUN
issue-791	109	7	damodaran	damodaran	NOUN
issue-791	109	8	's	's	PART
issue-791	109	9	recommendations	recommendation	NOUN
issue-791	109	10	regarding	regard	VERB
issue-791	109	11	the	the	DET
issue-791	109	12	need	need	NOUN
issue-791	109	13	to	to	PART
issue-791	109	14	take	take	VERB
issue-791	109	15	into	into	ADP
issue-791	109	16	account	account	NOUN
issue-791	109	17	specific	specific	ADJ
issue-791	109	18	local	local	ADJ
issue-791	109	19	risks	risk	NOUN
issue-791	109	20	(	(	PUNCT
issue-791	109	21	country	country	NOUN
issue-791	109	22	risks	risk	NOUN
issue-791	109	23	)	)	PUNCT
issue-791	109	24	,	,	PUNCT
issue-791	109	25	the	the	DET
issue-791	109	26	expected	expect	VERB
issue-791	109	27	market	market	NOUN
issue-791	109	28	rate	rate	NOUN
issue-791	109	29	of	of	ADP
issue-791	109	30	cost	cost	NOUN
issue-791	109	31	of	of	ADP
issue-791	109	32	equity	equity	NOUN
issue-791	109	33	(	(	PUNCT
issue-791	109	34	rem	rem	NOUN
issue-791	109	35	)	)	PUNCT
issue-791	109	36	includes	include	VERB
issue-791	109	37	risk	risk	NOUN
issue-791	109	38	-	-	PUNCT
issue-791	109	39	free	free	ADJ
issue-791	109	40	rate	rate	NOUN
issue-791	109	41	of	of	ADP
issue-791	109	42	return	return	NOUN
issue-791	109	43	(	(	PUNCT
issue-791	109	44	rfg	rfg	PROPN
issue-791	109	45	)	)	PUNCT
issue-791	109	46	)	)	PUNCT
issue-791	109	47	,	,	PUNCT
issue-791	109	48	global	global	ADJ
issue-791	109	49	market	market	NOUN
issue-791	109	50	risk	risk	NOUN
issue-791	109	51	premium	premium	NOUN
issue-791	109	52	(	(	PUNCT
issue-791	109	53	mrg	mrg	PROPN
issue-791	109	54	)	)	PUNCT
issue-791	109	55	,	,	PUNCT
issue-791	109	56	beta	beta	NOUN
issue-791	109	57	factor	factor	NOUN
issue-791	109	58	and	and	CCONJ
issue-791	109	59	country	country	NOUN
issue-791	109	60	risk	risk	NOUN
issue-791	109	61	premium	premium	NOUN
issue-791	109	62	(	(	PUNCT
issue-791	109	63	crp	crp	NOUN
issue-791	109	64	)	)	PUNCT
issue-791	109	65	.	.	PUNCT
issue-791	110	1	the	the	DET
issue-791	110	2	proposed	propose	VERB
issue-791	110	3	model	model	NOUN
issue-791	110	4	for	for	ADP
issue-791	110	5	calculating	calculate	VERB
issue-791	110	6	the	the	DET
issue-791	110	7	average	average	ADJ
issue-791	110	8	expected	expected	ADJ
issue-791	110	9	market	market	NOUN
issue-791	110	10	rate	rate	NOUN
issue-791	110	11	of	of	ADP
issue-791	110	12	cost	cost	NOUN
issue-791	110	13	of	of	ADP
issue-791	110	14	equity	equity	NOUN
issue-791	110	15	is	be	AUX
issue-791	110	16	as	as	SCONJ
issue-791	110	17	follows	follow	VERB
issue-791	110	18	:	:	PUNCT
issue-791	110	19	r	r	NOUN
issue-791	110	20	rfem	rfem	NOUN
issue-791	110	21	g=	g=	NOUN
issue-791	111	1	+	+	X
issue-791	111	2	+	+	PROPN
issue-791	111	3	mrp	mrp	PROPN
issue-791	111	4	crpg	crpg	PROPN
issue-791	111	5	�	�	PROPN
issue-791	111	6	(	(	PUNCT
issue-791	111	7	1	1	NUM
issue-791	111	8	)	)	PUNCT
issue-791	111	9	given	give	VERB
issue-791	111	10	the	the	DET
issue-791	111	11	impossibility	impossibility	NOUN
issue-791	111	12	to	to	PART
issue-791	111	13	calculate	calculate	VERB
issue-791	111	14	objectively	objectively	ADV
issue-791	111	15	the	the	DET
issue-791	111	16	risk	risk	NOUN
issue-791	111	17	-	-	PUNCT
issue-791	111	18	free	free	ADJ
issue-791	111	19	rate	rate	NOUN
issue-791	111	20	of	of	ADP
issue-791	111	21	return	return	NOUN
issue-791	111	22	and	and	CCONJ
issue-791	111	23	the	the	DET
issue-791	111	24	lack	lack	NOUN
issue-791	111	25	of	of	ADP
issue-791	111	26	credible	credible	ADJ
issue-791	111	27	information	information	NOUN
issue-791	111	28	from	from	ADP
issue-791	111	29	the	the	DET
issue-791	111	30	local	local	ADJ
issue-791	111	31	stock	stock	NOUN
issue-791	111	32	market	market	NOUN
issue-791	111	33	,	,	PUNCT
issue-791	111	34	ukraine	ukraine	PROPN
issue-791	111	35	should	should	AUX
issue-791	111	36	accept	accept	VERB
issue-791	111	37	a	a	DET
issue-791	111	38	global	global	ADJ
issue-791	111	39	risk	risk	NOUN
issue-791	111	40	-	-	PUNCT
issue-791	111	41	free	free	ADJ
issue-791	111	42	rate	rate	NOUN
issue-791	111	43	,	,	PUNCT
issue-791	111	44	a	a	DET
issue-791	111	45	global	global	ADJ
issue-791	111	46	risk	risk	NOUN
issue-791	111	47	premium	premium	NOUN
issue-791	111	48	and	and	CCONJ
issue-791	111	49	minimization	minimization	NOUN
issue-791	111	50	of	of	ADP
issue-791	111	51	domestic	domestic	ADJ
issue-791	111	52	stock	stock	NOUN
issue-791	111	53	market	market	NOUN
issue-791	111	54	data	datum	NOUN
issue-791	111	55	as	as	ADP
issue-791	111	56	an	an	DET
issue-791	111	57	information	information	NOUN
issue-791	111	58	base	base	NOUN
issue-791	111	59	.	.	PUNCT
issue-791	112	1	model	model	NOUN
issue-791	112	2	1	1	NUM
issue-791	112	3	does	do	AUX
issue-791	112	4	not	not	PART
issue-791	112	5	contain	contain	VERB
issue-791	112	6	a	a	DET
issue-791	112	7	beta	beta	ADJ
issue-791	112	8	factor	factor	NOUN
issue-791	112	9	,	,	PUNCT
issue-791	112	10	as	as	SCONJ
issue-791	112	11	it	it	PRON
issue-791	112	12	aims	aim	VERB
issue-791	112	13	to	to	PART
issue-791	112	14	calculate	calculate	VERB
issue-791	112	15	the	the	DET
issue-791	112	16	average	average	ADJ
issue-791	112	17	market	market	NOUN
issue-791	112	18	rate	rate	NOUN
issue-791	112	19	of	of	ADP
issue-791	112	20	return	return	NOUN
issue-791	112	21	that	that	PRON
issue-791	112	22	corresponds	correspond	VERB
issue-791	112	23	to	to	ADP
issue-791	112	24	a	a	DET
issue-791	112	25	beta	beta	ADJ
issue-791	112	26	factor	factor	NOUN
issue-791	112	27	at	at	ADP
issue-791	112	28	the	the	DET
issue-791	112	29	unit	unit	NOUN
issue-791	112	30	level	level	NOUN
issue-791	112	31	.	.	PUNCT
issue-791	113	1	therefore	therefore	ADV
issue-791	113	2	,	,	PUNCT
issue-791	113	3	this	this	DET
issue-791	113	4	factor	factor	NOUN
issue-791	113	5	can	can	AUX
issue-791	113	6	not	not	PART
issue-791	113	7	be	be	AUX
issue-791	113	8	taken	take	VERB
issue-791	113	9	into	into	ADP
issue-791	113	10	account	account	NOUN
issue-791	113	11	in	in	ADP
issue-791	113	12	the	the	DET
issue-791	113	13	calculations	calculation	NOUN
issue-791	113	14	.	.	PUNCT
issue-791	114	1	table	table	NOUN
issue-791	114	2	1	1	NUM
issue-791	114	3	shows	show	VERB
issue-791	114	4	the	the	DET
issue-791	114	5	calculations	calculation	NOUN
issue-791	114	6	of	of	ADP
issue-791	114	7	the	the	DET
issue-791	114	8	expected	expect	VERB
issue-791	114	9	market	market	NOUN
issue-791	114	10	return	return	NOUN
issue-791	114	11	on	on	ADP
issue-791	114	12	equity	equity	NOUN
issue-791	114	13	investments	investment	NOUN
issue-791	114	14	of	of	ADP
issue-791	114	15	ukrainian	ukrainian	ADJ
issue-791	114	16	enterprises	enterprise	NOUN
issue-791	114	17	.	.	PUNCT
issue-791	115	1	the	the	DET
issue-791	115	2	results	result	NOUN
issue-791	115	3	from	from	ADP
issue-791	115	4	the	the	DET
issue-791	115	5	application	application	NOUN
issue-791	115	6	of	of	ADP
issue-791	115	7	model	model	NOUN
issue-791	115	8	(	(	PUNCT
issue-791	115	9	1	1	X
issue-791	115	10	)	)	PUNCT
issue-791	115	11	are	be	AUX
issue-791	115	12	expressed	express	VERB
issue-791	115	13	in	in	ADP
issue-791	115	14	usd	usd	PROPN
issue-791	115	15	.	.	PUNCT
issue-791	116	1	in	in	ADP
issue-791	116	2	order	order	NOUN
issue-791	116	3	to	to	PART
issue-791	116	4	translate	translate	VERB
issue-791	116	5	the	the	DET
issue-791	116	6	expected	expect	VERB
issue-791	116	7	rate	rate	NOUN
issue-791	116	8	of	of	ADP
issue-791	116	9	return	return	NOUN
issue-791	116	10	into	into	ADP
issue-791	116	11	the	the	DET
issue-791	116	12	local	local	ADJ
issue-791	116	13	national	national	ADJ
issue-791	116	14	currency	currency	NOUN
issue-791	116	15	,	,	PUNCT
issue-791	116	16	the	the	DET
issue-791	116	17	value	value	NOUN
issue-791	116	18	of	of	ADP
issue-791	116	19	inflation	inflation	NOUN
issue-791	116	20	in	in	ADP
issue-791	116	21	ukraine	ukraine	NOUN
issue-791	116	22	and	and	CCONJ
issue-791	116	23	the	the	DET
issue-791	116	24	usa	usa	PROPN
issue-791	116	25	for	for	ADP
issue-791	116	26	the	the	DET
issue-791	116	27	respective	respective	ADJ
issue-791	116	28	years	year	NOUN
issue-791	116	29	should	should	AUX
issue-791	116	30	be	be	AUX
issue-791	116	31	adjusted	adjust	VERB
issue-791	116	32	.	.	PUNCT
issue-791	117	1	the	the	DET
issue-791	117	2	well	well	ADV
issue-791	117	3	-	-	PUNCT
issue-791	117	4	known	know	VERB
issue-791	117	5	i.	i.	NOUN
issue-791	117	6	fisher	fisher	PROPN
issue-791	117	7	algorithm	algorithm	PROPN
issue-791	117	8	is	be	AUX
issue-791	117	9	used	use	VERB
issue-791	117	10	to	to	PART
issue-791	117	11	describe	describe	VERB
issue-791	117	12	the	the	DET
issue-791	117	13	relationship	relationship	NOUN
issue-791	117	14	between	between	ADP
issue-791	117	15	inflation	inflation	NOUN
issue-791	117	16	rate	rate	NOUN
issue-791	117	17	,	,	PUNCT
issue-791	117	18	nominal	nominal	ADJ
issue-791	117	19	and	and	CCONJ
issue-791	117	20	real	real	ADJ
issue-791	117	21	interest	interest	NOUN
issue-791	117	22	rates	rate	NOUN
issue-791	117	23	.	.	PUNCT
issue-791	118	1	in	in	ADP
issue-791	118	2	reality	reality	NOUN
issue-791	118	3	,	,	PUNCT
issue-791	118	4	the	the	DET
issue-791	118	5	impact	impact	NOUN
issue-791	118	6	of	of	ADP
issue-791	118	7	factors	factor	NOUN
issue-791	118	8	behind	behind	ADP
issue-791	118	9	the	the	DET
issue-791	118	10	growth	growth	NOUN
issue-791	118	11	(	(	PUNCT
issue-791	118	12	or	or	CCONJ
issue-791	118	13	decrease	decrease	NOUN
issue-791	118	14	)	)	PUNCT
issue-791	118	15	of	of	ADP
issue-791	118	16	the	the	DET
issue-791	118	17	shadow	shadow	NOUN
issue-791	118	18	economy	economy	NOUN
issue-791	118	19	manifests	manifest	VERB
issue-791	118	20	itself	itself	PRON
issue-791	118	21	over	over	ADP
issue-791	118	22	a	a	DET
issue-791	118	23	certain	certain	ADJ
issue-791	118	24	period	period	NOUN
issue-791	118	25	.	.	PUNCT
issue-791	119	1	we	we	PRON
issue-791	119	2	assume	assume	VERB
issue-791	119	3	that	that	SCONJ
issue-791	119	4	some	some	DET
issue-791	119	5	businesses	business	NOUN
issue-791	119	6	respond	respond	VERB
issue-791	119	7	to	to	ADP
issue-791	119	8	risk	risk	NOUN
issue-791	119	9	factors	factor	NOUN
issue-791	119	10	during	during	ADP
issue-791	119	11	the	the	DET
issue-791	119	12	period	period	NOUN
issue-791	119	13	of	of	ADP
issue-791	119	14	their	their	PRON
issue-791	119	15	manifestation	manifestation	NOUN
issue-791	119	16	and	and	CCONJ
issue-791	119	17	immediately	immediately	ADV
issue-791	119	18	transform	transform	VERB
issue-791	119	19	their	their	PRON
issue-791	119	20	income	income	NOUN
issue-791	119	21	into	into	ADP
issue-791	119	22	a	a	DET
issue-791	119	23	shadow	shadow	NOUN
issue-791	119	24	,	,	PUNCT
issue-791	119	25	using	use	VERB
issue-791	119	26	the	the	DET
issue-791	119	27	existing	exist	VERB
issue-791	119	28	shadow	shadow	NOUN
issue-791	119	29	economy	economy	NOUN
issue-791	119	30	infrastructure	infrastructure	NOUN
issue-791	119	31	.	.	PUNCT
issue-791	120	1	however	however	ADV
issue-791	120	2	,	,	PUNCT
issue-791	120	3	a	a	DET
issue-791	120	4	number	number	NOUN
issue-791	120	5	of	of	ADP
issue-791	120	6	economic	economic	ADJ
issue-791	120	7	agents	agent	NOUN
issue-791	120	8	can	can	AUX
issue-791	120	9	act	act	VERB
issue-791	120	10	ahead	ahead	ADV
issue-791	120	11	of	of	ADP
issue-791	120	12	the	the	DET
issue-791	120	13	curve	curve	NOUN
issue-791	120	14	by	by	ADP
issue-791	120	15	shifting	shift	VERB
issue-791	120	16	their	their	PRON
issue-791	120	17	earnings	earning	NOUN
issue-791	120	18	into	into	ADP
issue-791	120	19	the	the	DET
issue-791	120	20	shadows	shadow	NOUN
issue-791	120	21	,	,	PUNCT
issue-791	120	22	projecting	project	VERB
issue-791	120	23	exacerbations	exacerbation	NOUN
issue-791	120	24	of	of	ADP
issue-791	120	25	risk	risk	NOUN
issue-791	120	26	factors	factor	NOUN
issue-791	120	27	.	.	PUNCT
issue-791	121	1	other	other	ADJ
issue-791	121	2	entities	entity	NOUN
issue-791	121	3	,	,	PUNCT
issue-791	121	4	on	on	ADP
issue-791	121	5	the	the	DET
issue-791	121	6	contrary	contrary	NOUN
issue-791	121	7	,	,	PUNCT
issue-791	121	8	need	need	VERB
issue-791	121	9	time	time	NOUN
issue-791	121	10	to	to	PART
issue-791	121	11	become	become	VERB
issue-791	121	12	aware	aware	ADJ
issue-791	121	13	of	of	ADP
issue-791	121	14	the	the	DET
issue-791	121	15	risk	risk	NOUN
issue-791	121	16	factors	factor	NOUN
issue-791	121	17	involved	involve	VERB
issue-791	121	18	and	and	CCONJ
issue-791	121	19	to	to	PART
issue-791	121	20	develop	develop	VERB
issue-791	121	21	revenue	revenue	NOUN
issue-791	121	22	-	-	PUNCT
issue-791	121	23	minimizing	minimize	VERB
issue-791	121	24	shadow	shadow	NOUN
issue-791	121	25	schemes	scheme	NOUN
issue-791	121	26	.	.	PUNCT
issue-791	122	1	if	if	SCONJ
issue-791	122	2	,	,	PUNCT
issue-791	122	3	as	as	ADP
issue-791	122	4	a	a	DET
issue-791	122	5	result	result	NOUN
issue-791	122	6	of	of	ADP
issue-791	122	7	risk	risk	NOUN
issue-791	122	8	exacerbation	exacerbation	NOUN
issue-791	122	9	,	,	PUNCT
issue-791	122	10	the	the	DET
issue-791	122	11	market	market	NOUN
issue-791	122	12	expects	expect	VERB
issue-791	122	13	an	an	DET
issue-791	122	14	abnormally	abnormally	ADV
issue-791	122	15	high	high	ADJ
issue-791	122	16	shadow	shadow	NOUN
issue-791	122	17	rate	rate	NOUN
issue-791	122	18	of	of	ADP
issue-791	122	19	return	return	NOUN
issue-791	122	20	for	for	ADP
issue-791	122	21	a	a	DET
issue-791	122	22	certain	certain	ADJ
issue-791	122	23	period	period	NOUN
issue-791	122	24	,	,	PUNCT
issue-791	122	25	it	it	PRON
issue-791	122	26	does	do	AUX
issue-791	122	27	not	not	PART
issue-791	122	28	mean	mean	VERB
issue-791	122	29	that	that	SCONJ
issue-791	122	30	it	it	PRON
issue-791	122	31	will	will	AUX
issue-791	122	32	be	be	AUX
issue-791	122	33	realized	realize	VERB
issue-791	122	34	by	by	ADP
issue-791	122	35	all	all	DET
issue-791	122	36	entities	entity	NOUN
issue-791	122	37	during	during	ADP
issue-791	122	38	that	that	DET
issue-791	122	39	period	period	NOUN
issue-791	122	40	.	.	PUNCT
issue-791	123	1	temporal	temporal	ADJ
issue-791	123	2	displacement	displacement	NOUN
issue-791	123	3	can	can	AUX
issue-791	123	4	occur	occur	VERB
issue-791	123	5	both	both	CCONJ
issue-791	123	6	before	before	ADP
issue-791	123	7	and	and	CCONJ
issue-791	123	8	after	after	ADP
issue-791	123	9	the	the	DET
issue-791	123	10	occurrence	occurrence	NOUN
issue-791	123	11	of	of	ADP
issue-791	123	12	factors	factor	NOUN
issue-791	123	13	(	(	PUNCT
issue-791	123	14	risks	risk	NOUN
issue-791	123	15	)	)	PUNCT
issue-791	123	16	.	.	PUNCT
issue-791	124	1	the	the	DET
issue-791	124	2	situation	situation	NOUN
issue-791	124	3	is	be	AUX
issue-791	124	4	the	the	DET
issue-791	124	5	same	same	ADJ
issue-791	124	6	in	in	ADP
issue-791	124	7	case	case	NOUN
issue-791	124	8	of	of	ADP
issue-791	124	9	risk	risk	NOUN
issue-791	124	10	improvement	improvement	NOUN
issue-791	124	11	.	.	PUNCT
issue-791	125	1	businesses	business	NOUN
issue-791	125	2	do	do	AUX
issue-791	125	3	not	not	PART
issue-791	125	4	immediately	immediately	ADV
issue-791	125	5	take	take	VERB
issue-791	125	6	income	income	NOUN
issue-791	125	7	from	from	ADP
issue-791	125	8	the	the	DET
issue-791	125	9	shadows	shadow	NOUN
issue-791	125	10	in	in	ADP
issue-791	125	11	response	response	NOUN
issue-791	125	12	to	to	ADP
issue-791	125	13	government	government	NOUN
issue-791	125	14	decisions	decision	NOUN
issue-791	125	15	aimed	aim	VERB
issue-791	125	16	at	at	ADP
issue-791	125	17	reducing	reduce	VERB
issue-791	125	18	risk	risk	NOUN
issue-791	125	19	and	and	CCONJ
issue-791	125	20	reducing	reduce	VERB
issue-791	125	21	taxation	taxation	NOUN
issue-791	125	22	.	.	PUNCT
issue-791	126	1	therefore	therefore	ADV
issue-791	126	2	,	,	PUNCT
issue-791	126	3	the	the	DET
issue-791	126	4	estimation	estimation	NOUN
issue-791	126	5	of	of	ADP
issue-791	126	6	the	the	DET
issue-791	126	7	shadow	shadow	NOUN
issue-791	126	8	economy	economy	NOUN
issue-791	126	9	level	level	NOUN
issue-791	126	10	requires	require	VERB
issue-791	126	11	the	the	DET
issue-791	126	12	utilization	utilization	NOUN
issue-791	126	13	of	of	ADP
issue-791	126	14	the	the	DET
issue-791	126	15	smoothed	smoothed	ADJ
issue-791	126	16	time	time	NOUN
issue-791	126	17	-	-	PUNCT
issue-791	126	18	series	series	NOUN
issue-791	126	19	values	value	NOUN
issue-791	126	20	of	of	ADP
issue-791	126	21	the	the	DET
issue-791	126	22	expected	expect	VERB
issue-791	126	23	risk	risk	NOUN
issue-791	126	24	premium	premium	NOUN
issue-791	126	25	.	.	PUNCT
issue-791	127	1	the	the	DET
issue-791	127	2	simplest	simple	ADJ
issue-791	127	3	algorithm	algorithm	NOUN
issue-791	127	4	for	for	ADP
issue-791	127	5	averaging	average	VERB
issue-791	127	6	time	time	NOUN
issue-791	127	7	series	series	PROPN
issue-791	127	8	values	value	NOUN
issue-791	127	9	is	be	AUX
issue-791	127	10	used	use	VERB
issue-791	127	11	for	for	ADP
issue-791	127	12	smoothing	smooth	VERB
issue-791	127	13	.	.	PUNCT
issue-791	128	1	as	as	SCONJ
issue-791	128	2	the	the	DET
issue-791	128	3	data	data	NOUN
issue-791	128	4	averaging	average	VERB
issue-791	128	5	interval	interval	NOUN
issue-791	128	6	is	be	AUX
issue-791	128	7	of	of	ADP
issue-791	128	8	three	three	NUM
issue-791	128	9	periods	period	NOUN
issue-791	128	10	,	,	PUNCT
issue-791	128	11	the	the	DET
issue-791	128	12	calculations	calculation	NOUN
issue-791	128	13	do	do	AUX
issue-791	128	14	not	not	PART
issue-791	128	15	show	show	VERB
issue-791	128	16	smoothed	smoothed	ADJ
issue-791	128	17	figures	figure	NOUN
issue-791	128	18	for	for	ADP
issue-791	128	19	2008–2009	2008–2009	NUM
issue-791	128	20	.	.	PUNCT
issue-791	129	1	the	the	DET
issue-791	129	2	results	result	NOUN
issue-791	129	3	of	of	ADP
issue-791	129	4	the	the	DET
issue-791	129	5	calculation	calculation	NOUN
issue-791	129	6	of	of	ADP
issue-791	129	7	the	the	DET
issue-791	129	8	paired	pair	VERB
issue-791	129	9	correlation	correlation	NOUN
issue-791	129	10	coefficients	coefficient	NOUN
issue-791	129	11	revealed	reveal	VERB
issue-791	129	12	that	that	SCONJ
issue-791	129	13	among	among	ADP
issue-791	129	14	the	the	DET
issue-791	129	15	numerous	numerous	ADJ
issue-791	129	16	factors	factor	NOUN
issue-791	129	17	influencing	influence	VERB
issue-791	129	18	the	the	DET
issue-791	129	19	size	size	NOUN
issue-791	129	20	of	of	ADP
issue-791	129	21	the	the	DET
issue-791	129	22	shadow	shadow	NOUN
issue-791	129	23	economy	economy	NOUN
issue-791	129	24	,	,	PUNCT
issue-791	129	25	it	it	PRON
issue-791	129	26	is	be	AUX
issue-791	129	27	advisable	advisable	ADJ
issue-791	129	28	to	to	PART
issue-791	129	29	choose	choose	VERB
issue-791	129	30	the	the	DET
issue-791	129	31	two	two	NUM
issue-791	129	32	most	most	ADV
issue-791	129	33	representative	representative	NOUN
issue-791	129	34	:	:	PUNCT
issue-791	129	35	the	the	DET
issue-791	129	36	expected	expect	VERB
issue-791	129	37	market	market	NOUN
issue-791	129	38	return	return	NOUN
issue-791	129	39	(	(	PUNCT
issue-791	129	40	rem	rem	NOUN
issue-791	129	41	)	)	PUNCT
issue-791	129	42	and	and	CCONJ
issue-791	129	43	return	return	VERB
issue-791	129	44	on	on	ADP
issue-791	129	45	equity	equity	NOUN
issue-791	129	46	(	(	PUNCT
issue-791	129	47	roe	roe	PROPN
issue-791	129	48	)	)	PUNCT
issue-791	129	49	.	.	PUNCT
issue-791	130	1	table	table	NOUN
issue-791	130	2	2	2	NUM
issue-791	130	3	shows	show	VERB
issue-791	130	4	the	the	DET
issue-791	130	5	basic	basic	ADJ
issue-791	130	6	information	information	NOUN
issue-791	130	7	to	to	PART
issue-791	130	8	construct	construct	VERB
issue-791	130	9	a	a	DET
issue-791	130	10	two	two	NUM
issue-791	130	11	-	-	PUNCT
issue-791	130	12	factor	factor	NOUN
issue-791	130	13	regression	regression	NOUN
issue-791	130	14	,	,	PUNCT
issue-791	130	15	which	which	PRON
issue-791	130	16	will	will	AUX
issue-791	130	17	test	test	VERB
issue-791	130	18	the	the	DET
issue-791	130	19	hypothesis	hypothesis	NOUN
issue-791	130	20	of	of	ADP
issue-791	130	21	the	the	DET
issue-791	130	22	influence	influence	NOUN
issue-791	130	23	of	of	ADP
issue-791	130	24	these	these	DET
issue-791	130	25	factors	factor	NOUN
issue-791	130	26	and	and	CCONJ
issue-791	130	27	the	the	DET
issue-791	130	28	level	level	NOUN
issue-791	130	29	of	of	ADP
issue-791	130	30	the	the	DET
issue-791	130	31	shadow	shadow	NOUN
issue-791	130	32	economy	economy	NOUN
issue-791	130	33	.	.	PUNCT
issue-791	131	1	evidently	evidently	ADV
issue-791	131	2	,	,	PUNCT
issue-791	131	3	the	the	DET
issue-791	131	4	expected	expect	VERB
issue-791	131	5	rate	rate	NOUN
issue-791	131	6	of	of	ADP
issue-791	131	7	return	return	NOUN
issue-791	131	8	on	on	ADP
issue-791	131	9	equity	equity	NOUN
issue-791	131	10	and	and	CCONJ
issue-791	131	11	the	the	DET
issue-791	131	12	income	income	NOUN
issue-791	131	13	of	of	ADP
issue-791	131	14	the	the	DET
issue-791	131	15	shadow	shadow	NOUN
issue-791	131	16	sector	sector	NOUN
issue-791	131	17	are	be	AUX
issue-791	131	18	rising	rise	VERB
issue-791	131	19	in	in	ADP
issue-791	131	20	line	line	NOUN
issue-791	131	21	with	with	ADP
issue-791	131	22	the	the	DET
issue-791	131	23	rising	rise	VERB
issue-791	131	24	risks	risk	NOUN
issue-791	131	25	and	and	CCONJ
issue-791	131	26	the	the	DET
issue-791	131	27	crp	crp	PROPN
issue-791	131	28	parameter	parameter	NOUN
issue-791	131	29	mentioned	mention	VERB
issue-791	131	30	above	above	ADV
issue-791	131	31	.	.	PUNCT
issue-791	132	1	high	high	ADJ
issue-791	132	2	risks	risk	NOUN
issue-791	132	3	lead	lead	VERB
issue-791	132	4	to	to	ADP
issue-791	132	5	a	a	DET
issue-791	132	6	decrease	decrease	NOUN
issue-791	132	7	in	in	ADP
issue-791	132	8	income	income	NOUN
issue-791	132	9	officially	officially	ADV
issue-791	132	10	reported	report	VERB
issue-791	132	11	.	.	PUNCT
issue-791	133	1	the	the	DET
issue-791	133	2	average	average	ADJ
issue-791	133	3	return	return	NOUN
issue-791	133	4	on	on	ADP
issue-791	133	5	equity	equity	NOUN
issue-791	133	6	of	of	ADP
issue-791	133	7	the	the	DET
issue-791	133	8	ukrainian	ukrainian	ADJ
issue-791	133	9	enterprises	enterprise	NOUN
issue-791	133	10	during	during	ADP
issue-791	133	11	the	the	DET
issue-791	133	12	period	period	NOUN
issue-791	133	13	under	under	ADP
issue-791	133	14	analysis	analysis	NOUN
issue-791	133	15	was	be	AUX
issue-791	133	16	negative	negative	ADJ
issue-791	133	17	or	or	CCONJ
issue-791	133	18	was	be	AUX
issue-791	133	19	at	at	ADP
issue-791	133	20	a	a	DET
issue-791	133	21	minimal	minimal	ADJ
issue-791	133	22	positive	positive	ADJ
issue-791	133	23	level	level	NOUN
issue-791	133	24	.	.	PUNCT
issue-791	134	1	the	the	DET
issue-791	134	2	less	less	ADJ
issue-791	134	3	country	country	NOUN
issue-791	134	4	’s	’s	PART
issue-791	134	5	risk	risk	NOUN
issue-791	134	6	premium	premium	NOUN
issue-791	134	7	is	be	AUX
issue-791	134	8	the	the	DET
issue-791	134	9	less	less	ADV
issue-791	134	10	shadow	shadow	NOUN
issue-791	134	11	interest	interest	NOUN
issue-791	134	12	rate	rate	NOUN
issue-791	134	13	table	table	NOUN
issue-791	134	14	1	1	NUM
issue-791	134	15	the	the	DET
issue-791	134	16	calculation	calculation	NOUN
issue-791	134	17	of	of	ADP
issue-791	134	18	the	the	DET
issue-791	134	19	expected	expect	VERB
issue-791	134	20	market	market	NOUN
issue-791	134	21	return	return	NOUN
issue-791	134	22	on	on	ADP
issue-791	134	23	equity	equity	NOUN
issue-791	134	24	investments	investment	NOUN
issue-791	134	25	of	of	ADP
issue-791	134	26	enterprises	enterprise	NOUN
issue-791	134	27	in	in	ADP
issue-791	134	28	ukraine	ukraine	NOUN
issue-791	134	29	,	,	PUNCT
issue-791	134	30	2008–2018	2008–2018	NUM
issue-791	134	31	year	year	NOUN
issue-791	134	32	rf	rf	PROPN
issue-791	134	33	r	r	PROPN
issue-791	134	34	crp	crp	PROPN
issue-791	134	35	equity	equity	NOUN
issue-791	134	36	risk	risk	NOUN
issue-791	134	37	premium	premium	NOUN
issue-791	134	38	expected	expect	VERB
issue-791	134	39	market	market	NOUN
issue-791	134	40	return	return	NOUN
issue-791	134	41	(	(	PUNCT
issue-791	134	42	rem	rem	NOUN
issue-791	134	43	)	)	PUNCT
issue-791	134	44	,	,	PUNCT
issue-791	134	45	usd	usd	NOUN
issue-791	134	46	inflation	inflation	NOUN
issue-791	134	47	rate	rate	NOUN
issue-791	134	48	,	,	PUNCT
issue-791	134	49	us	us	PROPN
issue-791	134	50	inflation	inflation	NOUN
issue-791	134	51	rate	rate	NOUN
issue-791	134	52	,	,	PUNCT
issue-791	134	53	ua	ua	PROPN
issue-791	134	54	expected	expect	VERB
issue-791	134	55	market	market	NOUN
issue-791	134	56	return	return	NOUN
issue-791	134	57	,	,	PUNCT
issue-791	134	58	ua	ua	PROPN
issue-791	134	59	expected	expect	VERB
issue-791	134	60	market	market	NOUN
issue-791	134	61	return	return	NOUN
issue-791	134	62	,	,	PUNCT
issue-791	134	63	ua	ua	PROPN
issue-791	134	64	(	(	PUNCT
issue-791	134	65	smoothed	smooth	VERB
issue-791	134	66	)	)	PUNCT
issue-791	134	67	2008	2008	NUM
issue-791	134	68	2.2	2.2	NUM
issue-791	134	69	5.25	5.25	NUM
issue-791	134	70	10.04	10.04	NUM
issue-791	134	71	12.24	12.24	NUM
issue-791	134	72	103.84	103.84	NUM
issue-791	134	73	125.23	125.23	NUM
issue-791	134	74	35.4	35.4	NUM
issue-791	134	75	*	*	PUNCT
issue-791	134	76	*	*	PUNCT
issue-791	134	77	*	*	X
issue-791	134	78	2009	2009	NUM
issue-791	134	79	4.04	4.04	NUM
issue-791	134	80	9.75	9.75	NUM
issue-791	134	81	14.75	14.75	NUM
issue-791	134	82	18.79	18.79	NUM
issue-791	134	83	-100.36	-100.36	PROPN
issue-791	134	84	115.9	115.9	NUM
issue-791	134	85	38.2	38.2	NUM
issue-791	134	86	*	*	PUNCT
issue-791	134	87	*	*	PUNCT
issue-791	134	88	*	*	PUNCT
issue-791	134	89	2010	2010	NUM
issue-791	134	90	3.3	3.3	NUM
issue-791	134	91	8.25	8.25	NUM
issue-791	134	92	12.75	12.75	NUM
issue-791	134	93	16.05	16.05	NUM
issue-791	134	94	101.6	101.6	NUM
issue-791	134	95	109.4	109.4	NUM
issue-791	134	96	25.0	25.0	NUM
issue-791	134	97	32.8	32.8	NUM
issue-791	134	98	2011	2011	NUM
issue-791	134	99	1.9	1.9	NUM
issue-791	134	100	7.5	7.5	NUM
issue-791	134	101	12.5	12.5	NUM
issue-791	134	102	14.4	14.4	NUM
issue-791	134	103	103.2	103.2	NUM
issue-791	134	104	108	108	NUM
issue-791	134	105	19.7	19.7	NUM
issue-791	134	106	27.6	27.6	NUM
issue-791	134	107	2012	2012	NUM
issue-791	134	108	1.8	1.8	NUM
issue-791	134	109	7.5	7.5	NUM
issue-791	134	110	13.5	13.5	NUM
issue-791	134	111	15.3	15.3	NUM
issue-791	134	112	102.1	102.1	NUM
issue-791	134	113	100.6	100.6	NUM
issue-791	134	114	13.6	13.6	NUM
issue-791	134	115	19.4	19.4	NUM
issue-791	134	116	2013	2013	NUM
issue-791	134	117	2.9	2.9	NUM
issue-791	134	118	9	9	NUM
issue-791	134	119	14.8	14.8	NUM
issue-791	134	120	17.7	17.7	NUM
issue-791	134	121	101.46	101.46	NUM
issue-791	134	122	-100.2	-100.2	PROPN
issue-791	134	123	15.8	15.8	NUM
issue-791	134	124	16.4	16.4	NUM
issue-791	134	125	2014	2014	NUM
issue-791	134	126	2.2	2.2	NUM
issue-791	134	127	11.25	11.25	NUM
issue-791	134	128	16.25	16.25	NUM
issue-791	134	129	18.45	18.45	NUM
issue-791	134	130	101.62	101.62	NUM
issue-791	134	131	112.1	112.1	NUM
issue-791	134	132	30.7	30.7	NUM
issue-791	134	133	20.0	20.0	NUM
issue-791	134	134	2015	2015	NUM
issue-791	134	135	2.3	2.3	NUM
issue-791	134	136	15	15	NUM
issue-791	134	137	20.75	20.75	NUM
issue-791	134	138	23.05	23.05	NUM
issue-791	134	139	100.12	100.12	NUM
issue-791	134	140	148.7	148.7	NUM
issue-791	134	141	82.8	82.8	NUM
issue-791	134	142	43.1	43.1	NUM
issue-791	134	143	2016	2016	NUM
issue-791	134	144	2.4	2.4	NUM
issue-791	134	145	14.9	14.9	NUM
issue-791	134	146	20.9	20.9	NUM
issue-791	134	147	23.3	23.3	NUM
issue-791	134	148	101.26	101.26	NUM
issue-791	134	149	113.9	113.9	NUM
issue-791	134	150	38.7	38.7	NUM
issue-791	134	151	50.7	50.7	NUM
issue-791	134	152	2017	2017	NUM
issue-791	134	153	2.4	2.4	NUM
issue-791	134	154	14.21	14.21	NUM
issue-791	134	155	19.9	19.9	NUM
issue-791	134	156	22.3	22.3	NUM
issue-791	134	157	102.13	102.13	NUM
issue-791	134	158	114.4	114.4	NUM
issue-791	134	159	37.0	37.0	NUM
issue-791	134	160	52.8	52.8	NUM
issue-791	134	161	2018	2018	NUM
issue-791	134	162	2.7	2.7	NUM
issue-791	134	163	10.38	10.38	NUM
issue-791	134	164	15.46	15.46	NUM
issue-791	134	165	18.16	18.16	NUM
issue-791	134	166	102.44	102.44	NUM
issue-791	134	167	110.9	110.9	NUM
issue-791	134	168	27.9	27.9	NUM
issue-791	134	169	34.5	34.5	NUM
issue-791	134	170	baltic	baltic	ADJ
issue-791	134	171	journal	journal	NOUN
issue-791	134	172	of	of	ADP
issue-791	134	173	economic	economic	ADJ
issue-791	134	174	studies	study	NOUN
issue-791	134	175	65	65	NUM
issue-791	134	176	vol	vol	NOUN
issue-791	134	177	.	.	PROPN
issue-791	135	1	6	6	NUM
issue-791	135	2	,	,	PUNCT
issue-791	135	3	no	no	INTJ
issue-791	135	4	.	.	NOUN
issue-791	135	5	2	2	NUM
issue-791	135	6	,	,	PUNCT
issue-791	135	7	2020	2020	NUM
issue-791	135	8	on	on	ADP
issue-791	135	9	invested	invest	VERB
issue-791	135	10	capital	capital	NOUN
issue-791	135	11	and	and	CCONJ
issue-791	135	12	the	the	DET
issue-791	135	13	size	size	NOUN
issue-791	135	14	of	of	ADP
issue-791	135	15	the	the	DET
issue-791	135	16	total	total	ADJ
issue-791	135	17	shadow	shadow	NOUN
issue-791	135	18	sector	sector	NOUN
issue-791	135	19	will	will	AUX
issue-791	135	20	be	be	AUX
issue-791	135	21	.	.	PUNCT
issue-791	136	1	processing	process	VERB
issue-791	136	2	the	the	DET
issue-791	136	3	relevant	relevant	ADJ
issue-791	136	4	data	data	NOUN
issue-791	136	5	results	result	NOUN
issue-791	136	6	into	into	ADP
issue-791	136	7	the	the	DET
issue-791	136	8	following	follow	VERB
issue-791	136	9	two	two	NUM
issue-791	136	10	-	-	PUNCT
issue-791	136	11	factor	factor	NOUN
issue-791	136	12	regression	regression	NOUN
issue-791	136	13	equation	equation	NOUN
issue-791	136	14	,	,	PUNCT
issue-791	136	15	which	which	PRON
issue-791	136	16	enables	enable	VERB
issue-791	136	17	to	to	PART
issue-791	136	18	find	find	VERB
issue-791	136	19	the	the	DET
issue-791	136	20	estimated	estimate	VERB
issue-791	136	21	values	value	NOUN
issue-791	136	22	(	(	PUNCT
issue-791	136	23	ye	ye	NOUN
issue-791	136	24	)	)	PUNCT
issue-791	136	25	of	of	ADP
issue-791	136	26	the	the	DET
issue-791	136	27	shadow	shadow	NOUN
issue-791	136	28	economy	economy	NOUN
issue-791	136	29	:	:	PUNCT
issue-791	136	30	ye	ye	NOUN
issue-791	136	31	=	=	SYM
issue-791	136	32	34,7	34,7	PROPN
issue-791	136	33	–	–	PUNCT
issue-791	136	34	0,25355	0,25355	PUNCT
issue-791	136	35	x1	x1	PROPN
issue-791	137	1	+	+	PUNCT
issue-791	137	2	0,004919	0,004919	SYM
issue-791	137	3	x2	x2	PROPN
issue-791	137	4	(	(	PUNCT
issue-791	137	5	2	2	NUM
issue-791	137	6	)	)	PUNCT
issue-791	137	7	regression	regression	NOUN
issue-791	137	8	model	model	NOUN
issue-791	137	9	2	2	NUM
issue-791	137	10	confirms	confirm	VERB
issue-791	137	11	that	that	SCONJ
issue-791	137	12	roe	roe	PROPN
issue-791	137	13	and	and	CCONJ
issue-791	137	14	the	the	DET
issue-791	137	15	shadow	shadow	NOUN
issue-791	137	16	economy	economy	NOUN
issue-791	137	17	are	be	AUX
issue-791	137	18	negatively	negatively	ADV
issue-791	137	19	correlated	correlate	VERB
issue-791	137	20	while	while	SCONJ
issue-791	137	21	the	the	DET
issue-791	137	22	risks	risk	NOUN
issue-791	137	23	of	of	ADP
issue-791	137	24	investing	invest	VERB
issue-791	137	25	in	in	ADP
issue-791	137	26	equity	equity	NOUN
issue-791	137	27	,	,	PUNCT
issue-791	137	28	reflected	reflect	VERB
issue-791	137	29	in	in	ADP
issue-791	137	30	the	the	DET
issue-791	137	31	expected	expect	VERB
issue-791	137	32	return	return	NOUN
issue-791	137	33	on	on	ADP
issue-791	137	34	equity	equity	NOUN
issue-791	137	35	,	,	PUNCT
issue-791	137	36	and	and	CCONJ
issue-791	137	37	the	the	DET
issue-791	137	38	total	total	ADJ
issue-791	137	39	shadow	shadow	NOUN
issue-791	137	40	income	income	NOUN
issue-791	137	41	correlate	correlate	VERB
issue-791	137	42	positively	positively	ADV
issue-791	137	43	.	.	PUNCT
issue-791	138	1	this	this	DET
issue-791	138	2	linear	linear	ADJ
issue-791	138	3	multiple	multiple	ADJ
issue-791	138	4	regression	regression	NOUN
issue-791	138	5	is	be	AUX
issue-791	138	6	adequate	adequate	ADJ
issue-791	138	7	to	to	ADP
issue-791	138	8	the	the	DET
issue-791	138	9	initial	initial	ADJ
issue-791	138	10	data	datum	NOUN
issue-791	138	11	,	,	PUNCT
issue-791	138	12	which	which	PRON
issue-791	138	13	is	be	AUX
issue-791	138	14	confirmed	confirm	VERB
issue-791	138	15	by	by	ADP
issue-791	138	16	the	the	DET
issue-791	138	17	similar	similar	ADJ
issue-791	138	18	dynamics	dynamic	NOUN
issue-791	138	19	of	of	ADP
issue-791	138	20	the	the	DET
issue-791	138	21	given	give	VERB
issue-791	138	22	and	and	CCONJ
issue-791	138	23	estimated	estimated	ADJ
issue-791	138	24	levels	level	NOUN
issue-791	138	25	of	of	ADP
issue-791	138	26	the	the	DET
issue-791	138	27	shadow	shadow	NOUN
issue-791	138	28	economy	economy	NOUN
issue-791	138	29	.	.	PUNCT
issue-791	139	1	this	this	PRON
issue-791	139	2	is	be	AUX
issue-791	139	3	evident	evident	ADJ
issue-791	139	4	in	in	ADP
issue-791	139	5	the	the	DET
issue-791	139	6	diagram	diagram	NOUN
issue-791	139	7	(	(	PUNCT
issue-791	139	8	figure	figure	NOUN
issue-791	139	9	1	1	NUM
issue-791	139	10	)	)	PUNCT
issue-791	139	11	.	.	PUNCT
issue-791	140	1	in	in	ADP
issue-791	140	2	addition	addition	NOUN
issue-791	140	3	,	,	PUNCT
issue-791	140	4	the	the	DET
issue-791	140	5	results	result	NOUN
issue-791	140	6	of	of	ADP
issue-791	140	7	comparing	compare	VERB
issue-791	140	8	the	the	DET
issue-791	140	9	actual	actual	ADJ
issue-791	140	10	and	and	CCONJ
issue-791	140	11	the	the	DET
issue-791	140	12	table	table	NOUN
issue-791	140	13	value	value	NOUN
issue-791	140	14	of	of	ADP
issue-791	140	15	the	the	DET
issue-791	140	16	fisher	fisher	PROPN
issue-791	140	17	coefficient	coefficient	NOUN
issue-791	140	18	confirm	confirm	VERB
issue-791	140	19	the	the	DET
issue-791	140	20	adequacy	adequacy	NOUN
issue-791	140	21	of	of	ADP
issue-791	140	22	the	the	DET
issue-791	140	23	model	model	NOUN
issue-791	140	24	.	.	PUNCT
issue-791	141	1	significant	significant	ADJ
issue-791	141	2	excess	excess	NOUN
issue-791	141	3	of	of	ADP
issue-791	141	4	factual	factual	ADJ
issue-791	141	5	(	(	PUNCT
issue-791	141	6	18.04	18.04	NUM
issue-791	141	7	)	)	PUNCT
issue-791	141	8	over	over	ADP
issue-791	141	9	ftable	ftable	NOUN
issue-791	141	10	(	(	PUNCT
issue-791	141	11	2.36	2.36	NUM
issue-791	141	12	)	)	PUNCT
issue-791	141	13	indicates	indicate	VERB
issue-791	141	14	the	the	DET
issue-791	141	15	statistical	statistical	ADJ
issue-791	141	16	significance	significance	NOUN
issue-791	141	17	of	of	ADP
issue-791	141	18	the	the	DET
issue-791	141	19	model	model	NOUN
issue-791	141	20	.	.	PUNCT
issue-791	142	1	we	we	PRON
issue-791	142	2	prove	prove	VERB
issue-791	142	3	the	the	DET
issue-791	142	4	significant	significant	ADJ
issue-791	142	5	influence	influence	NOUN
issue-791	142	6	of	of	ADP
issue-791	142	7	the	the	DET
issue-791	142	8	factors	factor	NOUN
issue-791	142	9	of	of	ADP
issue-791	142	10	return	return	NOUN
issue-791	142	11	on	on	ADP
issue-791	142	12	equity	equity	NOUN
issue-791	142	13	and	and	CCONJ
issue-791	142	14	expected	expect	VERB
issue-791	142	15	rate	rate	NOUN
issue-791	142	16	of	of	ADP
issue-791	142	17	return	return	NOUN
issue-791	142	18	on	on	ADP
issue-791	142	19	the	the	DET
issue-791	142	20	total	total	ADJ
issue-791	142	21	size	size	NOUN
issue-791	142	22	of	of	ADP
issue-791	142	23	the	the	DET
issue-791	142	24	shadow	shadow	NOUN
issue-791	142	25	economy	economy	NOUN
issue-791	142	26	,	,	PUNCT
issue-791	142	27	the	the	DET
issue-791	142	28	main	main	ADJ
issue-791	142	29	component	component	NOUN
issue-791	142	30	of	of	ADP
issue-791	142	31	which	which	PRON
issue-791	142	32	is	be	AUX
issue-791	142	33	the	the	DET
issue-791	142	34	shadow	shadow	NOUN
issue-791	142	35	(	(	PUNCT
issue-791	142	36	undeclared	undeclared	ADJ
issue-791	142	37	)	)	PUNCT
issue-791	142	38	income	income	NOUN
issue-791	142	39	of	of	ADP
issue-791	142	40	enterprises	enterprise	NOUN
issue-791	142	41	.	.	PUNCT
issue-791	143	1	therefore	therefore	ADV
issue-791	143	2	,	,	PUNCT
issue-791	143	3	this	this	DET
issue-791	143	4	approach	approach	NOUN
issue-791	143	5	should	should	AUX
issue-791	143	6	be	be	AUX
issue-791	143	7	applied	apply	VERB
issue-791	143	8	to	to	PART
issue-791	143	9	calculate	calculate	VERB
issue-791	143	10	the	the	DET
issue-791	143	11	shadow	shadow	NOUN
issue-791	143	12	interest	interest	NOUN
issue-791	143	13	rate	rate	NOUN
issue-791	143	14	on	on	ADP
issue-791	143	15	equity	equity	NOUN
issue-791	143	16	as	as	ADP
issue-791	143	17	the	the	DET
issue-791	143	18	difference	difference	NOUN
issue-791	143	19	between	between	ADP
issue-791	143	20	the	the	DET
issue-791	143	21	expected	expect	VERB
issue-791	143	22	return	return	NOUN
issue-791	143	23	on	on	ADP
issue-791	143	24	modified	modify	VERB
issue-791	143	25	capm	capm	NOUN
issue-791	143	26	and	and	CCONJ
issue-791	143	27	the	the	DET
issue-791	143	28	official	official	ADJ
issue-791	143	29	roe	roe	NOUN
issue-791	143	30	.	.	PUNCT
issue-791	144	1	the	the	DET
issue-791	144	2	estimated	estimate	VERB
issue-791	144	3	absolute	absolute	ADJ
issue-791	144	4	amount	amount	NOUN
issue-791	144	5	of	of	ADP
issue-791	144	6	the	the	DET
issue-791	144	7	shadow	shadow	NOUN
issue-791	144	8	income	income	NOUN
issue-791	144	9	of	of	ADP
issue-791	144	10	enterprises	enterprise	NOUN
issue-791	144	11	is	be	AUX
issue-791	144	12	found	find	VERB
issue-791	144	13	by	by	ADP
issue-791	144	14	applying	apply	VERB
issue-791	144	15	the	the	DET
issue-791	144	16	shadow	shadow	NOUN
issue-791	144	17	interest	interest	NOUN
issue-791	144	18	rate	rate	NOUN
issue-791	144	19	to	to	ADP
issue-791	144	20	the	the	DET
issue-791	144	21	average	average	ADJ
issue-791	144	22	annual	annual	ADJ
issue-791	144	23	amount	amount	NOUN
issue-791	144	24	of	of	ADP
issue-791	144	25	equity	equity	NOUN
issue-791	144	26	of	of	ADP
issue-791	144	27	enterprises	enterprise	NOUN
issue-791	144	28	.	.	PUNCT
issue-791	145	1	table	table	NOUN
issue-791	145	2	3	3	NUM
issue-791	145	3	shows	show	VERB
issue-791	145	4	the	the	DET
issue-791	145	5	results	result	NOUN
issue-791	145	6	of	of	ADP
issue-791	145	7	calculating	calculate	VERB
issue-791	145	8	the	the	DET
issue-791	145	9	value	value	NOUN
issue-791	145	10	of	of	ADP
issue-791	145	11	undeclared	undeclared	ADJ
issue-791	145	12	income	income	NOUN
issue-791	145	13	based	base	VERB
issue-791	145	14	on	on	ADP
issue-791	145	15	the	the	DET
issue-791	145	16	shadow	shadow	NOUN
issue-791	145	17	rate	rate	NOUN
issue-791	145	18	of	of	ADP
issue-791	145	19	cost	cost	NOUN
issue-791	145	20	of	of	ADP
issue-791	145	21	equity	equity	NOUN
issue-791	145	22	.	.	PUNCT
issue-791	146	1	the	the	DET
issue-791	146	2	data	datum	NOUN
issue-791	146	3	in	in	ADP
issue-791	146	4	table	table	NOUN
issue-791	146	5	3	3	NUM
issue-791	146	6	enable	enable	ADJ
issue-791	146	7	to	to	PART
issue-791	146	8	construct	construct	VERB
issue-791	146	9	a	a	DET
issue-791	146	10	linear	linear	ADJ
issue-791	146	11	regression	regression	NOUN
issue-791	146	12	that	that	PRON
issue-791	146	13	describes	describe	VERB
issue-791	146	14	the	the	DET
issue-791	146	15	dependence	dependence	NOUN
issue-791	146	16	of	of	ADP
issue-791	146	17	the	the	DET
issue-791	146	18	shadow	shadow	NOUN
issue-791	146	19	income	income	NOUN
issue-791	146	20	of	of	ADP
issue-791	146	21	enterprises	enterprise	NOUN
issue-791	146	22	on	on	ADP
issue-791	146	23	the	the	DET
issue-791	146	24	size	size	NOUN
issue-791	146	25	of	of	ADP
issue-791	146	26	official	official	ADJ
issue-791	146	27	roe	roe	NOUN
issue-791	146	28	and	and	CCONJ
issue-791	146	29	expected	expect	VERB
issue-791	146	30	market	market	NOUN
issue-791	146	31	profitability	profitability	NOUN
issue-791	146	32	:	:	PUNCT
issue-791	146	33	ye	ye	PROPN
issue-791	146	34	=	=	SYM
issue-791	146	35	8,68	8,68	NUM
issue-791	146	36	–	–	PUNCT
issue-791	147	1	1,03741	1,03741	NUM
issue-791	147	2	x1	x1	NOUN
issue-791	148	1	+	+	NUM
issue-791	148	2	0,7683	0,7683	NOUN
issue-791	148	3	x2	x2	NOUN
issue-791	148	4	(	(	PUNCT
issue-791	148	5	3	3	X
issue-791	148	6	)	)	PUNCT
issue-791	148	7	regression	regression	NOUN
issue-791	148	8	model	model	NOUN
issue-791	148	9	3	3	NUM
issue-791	148	10	confirms	confirm	VERB
issue-791	148	11	that	that	SCONJ
issue-791	148	12	,	,	PUNCT
issue-791	148	13	similarly	similarly	ADV
issue-791	148	14	to	to	ADP
issue-791	148	15	the	the	DET
issue-791	148	16	case	case	NOUN
issue-791	148	17	of	of	ADP
issue-791	148	18	the	the	DET
issue-791	148	19	total	total	ADJ
issue-791	148	20	shadow	shadow	NOUN
issue-791	148	21	economy	economy	NOUN
issue-791	148	22	,	,	PUNCT
issue-791	148	23	the	the	DET
issue-791	148	24	roe	roe	NOUN
issue-791	148	25	correlates	correlate	VERB
issue-791	148	26	negatively	negatively	ADV
issue-791	148	27	with	with	ADP
issue-791	148	28	the	the	DET
issue-791	148	29	level	level	NOUN
issue-791	148	30	of	of	ADP
issue-791	148	31	the	the	DET
issue-791	148	32	corporate	corporate	ADJ
issue-791	148	33	shadow	shadow	NOUN
issue-791	148	34	income	income	NOUN
issue-791	148	35	,	,	PUNCT
issue-791	148	36	while	while	SCONJ
issue-791	148	37	the	the	DET
issue-791	148	38	expected	expect	VERB
issue-791	148	39	rate	rate	NOUN
issue-791	148	40	of	of	ADP
issue-791	148	41	return	return	NOUN
issue-791	148	42	on	on	ADP
issue-791	148	43	equity	equity	NOUN
issue-791	148	44	table	table	NOUN
issue-791	148	45	2	2	NUM
issue-791	148	46	the	the	DET
issue-791	148	47	calculation	calculation	NOUN
issue-791	148	48	of	of	ADP
issue-791	148	49	factors	factor	NOUN
issue-791	148	50	of	of	ADP
issue-791	148	51	the	the	DET
issue-791	148	52	influence	influence	NOUN
issue-791	148	53	on	on	ADP
issue-791	148	54	the	the	DET
issue-791	148	55	level	level	NOUN
issue-791	148	56	of	of	ADP
issue-791	148	57	the	the	DET
issue-791	148	58	size	size	NOUN
issue-791	148	59	of	of	ADP
issue-791	148	60	the	the	DET
issue-791	148	61	shadow	shadow	NOUN
issue-791	148	62	economy	economy	NOUN
issue-791	148	63	in	in	ADP
issue-791	148	64	ukraine	ukraine	NOUN
issue-791	148	65	,	,	PUNCT
issue-791	148	66	2010–2018	2010–2018	NUM
issue-791	148	67	year	year	NOUN
issue-791	148	68	roe	roe	NOUN
issue-791	148	69	(	(	PUNCT
issue-791	148	70	х1	х1	PROPN
issue-791	148	71	)	)	PUNCT
issue-791	148	72	expected	expect	VERB
issue-791	148	73	market	market	NOUN
issue-791	148	74	return	return	NOUN
issue-791	148	75	,	,	PUNCT
issue-791	148	76	smoothed	smooth	VERB
issue-791	148	77	(	(	PUNCT
issue-791	148	78	х2	х2	NOUN
issue-791	148	79	)	)	PUNCT
issue-791	148	80	shadow	shadow	NOUN
issue-791	148	81	economy	economy	NOUN
issue-791	148	82	,	,	PUNCT
issue-791	148	83	percent	percent	NOUN
issue-791	148	84	of	of	ADP
issue-791	148	85	gdp	gdp	NOUN
issue-791	148	86	(	(	PUNCT
issue-791	148	87	y	y	NOUN
issue-791	148	88	)	)	PUNCT
issue-791	148	89	*	*	PUNCT
issue-791	148	90	shadow	shadow	NOUN
issue-791	148	91	economy	economy	NOUN
issue-791	148	92	,	,	PUNCT
issue-791	148	93	percent	percent	NOUN
issue-791	148	94	of	of	ADP
issue-791	148	95	gdp	gdp	NOUN
issue-791	148	96	,	,	PUNCT
issue-791	148	97	estimated	estimate	VERB
issue-791	148	98	(	(	PUNCT
issue-791	148	99	ye	ye	NOUN
issue-791	148	100	)	)	PUNCT
issue-791	148	101	2010	2010	NUM
issue-791	148	102	1.0	1.0	NUM
issue-791	148	103	32.8	32.8	NUM
issue-791	148	104	38	38	NUM
issue-791	148	105	35	35	NUM
issue-791	148	106	2011	2011	NUM
issue-791	148	107	4.5	4.5	NUM
issue-791	148	108	27.6	27.6	NUM
issue-791	148	109	34	34	NUM
issue-791	148	110	34	34	NUM
issue-791	148	111	2012	2012	NUM
issue-791	148	112	2.0	2.0	NUM
issue-791	148	113	19.4	19.4	NUM
issue-791	148	114	34	34	NUM
issue-791	148	115	34	34	NUM
issue-791	148	116	2013	2013	NUM
issue-791	148	117	-1.2	-1.2	SYM
issue-791	148	118	16.4	16.4	NUM
issue-791	148	119	35	35	NUM
issue-791	148	120	35	35	NUM
issue-791	148	121	2014	2014	NUM
issue-791	148	122	-36.1	-36.1	VERB
issue-791	148	123	20.0	20.0	NUM
issue-791	148	124	43	43	NUM
issue-791	148	125	44	44	NUM
issue-791	148	126	2015	2015	NUM
issue-791	148	127	-18.2	-18.2	NOUN
issue-791	148	128	43.1	43.1	NUM
issue-791	148	129	40	40	NUM
issue-791	148	130	40	40	NUM
issue-791	148	131	2016	2016	NUM
issue-791	148	132	1.2	1.2	NUM
issue-791	148	133	50.7	50.7	NUM
issue-791	148	134	35	35	NUM
issue-791	148	135	35	35	NUM
issue-791	148	136	2017	2017	NUM
issue-791	148	137	7.0	7.0	NUM
issue-791	148	138	52.8	52.8	NUM
issue-791	148	139	32	32	NUM
issue-791	148	140	33	33	NUM
issue-791	148	141	2018	2018	NUM
issue-791	148	142	11.2	11.2	NUM
issue-791	148	143	34.5	34.5	NUM
issue-791	148	144	30	30	NUM
issue-791	148	145	32	32	NUM
issue-791	148	146	source	source	NOUN
issue-791	148	147	:	:	PUNCT
issue-791	148	148	calculations	calculation	NOUN
issue-791	148	149	of	of	ADP
issue-791	148	150	the	the	DET
issue-791	148	151	ministry	ministry	PROPN
issue-791	148	152	of	of	ADP
issue-791	148	153	economic	economic	PROPN
issue-791	148	154	development	development	NOUN
issue-791	148	155	of	of	ADP
issue-791	148	156	ukraine	ukraine	NOUN
issue-791	148	157	,	,	PUNCT
issue-791	148	158	2019	2019	NUM
issue-791	148	159	0	0	NUM
issue-791	148	160	5	5	NUM
issue-791	148	161	10	10	NUM
issue-791	148	162	15	15	NUM
issue-791	148	163	20	20	NUM
issue-791	148	164	25	25	NUM
issue-791	148	165	30	30	NUM
issue-791	148	166	35	35	NUM
issue-791	148	167	40	40	NUM
issue-791	148	168	45	45	NUM
issue-791	148	169	50	50	NUM
issue-791	148	170	2010	2010	NUM
issue-791	148	171	2011	2011	NUM
issue-791	148	172	2012	2012	NUM
issue-791	148	173	2013	2013	NUM
issue-791	148	174	2014	2014	NUM
issue-791	148	175	2015	2015	NUM
issue-791	148	176	2016	2016	NUM
issue-791	148	177	2017	2017	NUM
issue-791	148	178	2018	2018	NUM
issue-791	148	179	th	th	X
issue-791	148	180	e	e	X
issue-791	148	181	le	le	X
issue-791	148	182	ve	ve	VERB
issue-791	148	183	l	l	NOUN
issue-791	148	184	o	o	NOUN
issue-791	149	1	ft	ft	INTJ
issue-791	149	2	he	he	PRON
issue-791	149	3	sh	sh	INTJ
issue-791	149	4	ad	ad	NOUN
issue-791	149	5	ow	ow	PROPN
issue-791	149	6	ec	ec	PROPN
issue-791	149	7	on	on	ADP
issue-791	149	8	om	om	PROPN
issue-791	149	9	y	y	PROPN
issue-791	149	10	,	,	PUNCT
issue-791	149	11	in	in	ADP
issue-791	149	12	%	%	INTJ
issue-791	149	13	o	o	NOUN
issue-791	150	1	fg	fg	PROPN
issue-791	150	2	d	d	X
issue-791	150	3	p	p	X
issue-791	150	4	y	y	PROPN
issue-791	150	5	ye	ye	PRON
issue-791	150	6	figure	figure	NOUN
issue-791	150	7	1	1	NUM
issue-791	150	8	.	.	PUNCT
issue-791	151	1	dynamics	dynamic	NOUN
issue-791	151	2	of	of	ADP
issue-791	151	3	given	give	VERB
issue-791	151	4	and	and	CCONJ
issue-791	151	5	estimated	estimated	ADJ
issue-791	151	6	levels	level	NOUN
issue-791	151	7	of	of	ADP
issue-791	151	8	the	the	DET
issue-791	151	9	shadow	shadow	NOUN
issue-791	151	10	economy	economy	NOUN
issue-791	151	11	of	of	ADP
issue-791	151	12	ukraine	ukraine	PROPN
issue-791	151	13	baltic	baltic	PROPN
issue-791	151	14	journal	journal	PROPN
issue-791	151	15	of	of	ADP
issue-791	151	16	economic	economic	ADJ
issue-791	151	17	studies	study	NOUN
issue-791	151	18	66	66	NUM
issue-791	151	19	vol	vol	NOUN
issue-791	151	20	.	.	PROPN
issue-791	152	1	6	6	NUM
issue-791	152	2	,	,	PUNCT
issue-791	152	3	no	no	INTJ
issue-791	152	4	.	.	NOUN
issue-791	152	5	2	2	NUM
issue-791	152	6	,	,	PUNCT
issue-791	152	7	2020	2020	NUM
issue-791	152	8	correlates	correlate	VERB
issue-791	152	9	positively	positively	ADV
issue-791	152	10	with	with	ADP
issue-791	152	11	the	the	DET
issue-791	152	12	value	value	NOUN
issue-791	152	13	of	of	ADP
issue-791	152	14	undeclared	undeclared	ADJ
issue-791	152	15	incomes	income	NOUN
issue-791	152	16	.	.	PUNCT
issue-791	153	1	this	this	DET
issue-791	153	2	linear	linear	ADJ
issue-791	153	3	multiple	multiple	ADJ
issue-791	153	4	regression	regression	NOUN
issue-791	153	5	is	be	AUX
issue-791	153	6	adequate	adequate	ADJ
issue-791	153	7	to	to	ADP
issue-791	153	8	the	the	DET
issue-791	153	9	initial	initial	ADJ
issue-791	153	10	data	datum	NOUN
issue-791	153	11	,	,	PUNCT
issue-791	153	12	which	which	PRON
issue-791	153	13	is	be	AUX
issue-791	153	14	confirmed	confirm	VERB
issue-791	153	15	by	by	ADP
issue-791	153	16	the	the	DET
issue-791	153	17	dynamics	dynamic	NOUN
issue-791	153	18	of	of	ADP
issue-791	153	19	the	the	DET
issue-791	153	20	specified	specify	VERB
issue-791	153	21	and	and	CCONJ
issue-791	153	22	estimated	estimated	ADJ
issue-791	153	23	levels	level	NOUN
issue-791	153	24	of	of	ADP
issue-791	153	25	shadow	shadow	NOUN
issue-791	153	26	income	income	NOUN
issue-791	153	27	(	(	PUNCT
issue-791	153	28	figure	figure	NOUN
issue-791	153	29	2	2	NUM
issue-791	153	30	)	)	PUNCT
issue-791	153	31	.	.	PUNCT
issue-791	154	1	comparison	comparison	NOUN
issue-791	154	2	of	of	ADP
issue-791	154	3	the	the	DET
issue-791	154	4	actual	actual	ADJ
issue-791	154	5	and	and	CCONJ
issue-791	154	6	table	table	NOUN
issue-791	154	7	value	value	NOUN
issue-791	154	8	of	of	ADP
issue-791	154	9	the	the	DET
issue-791	154	10	fisher	fisher	PROPN
issue-791	154	11	coefficient	coefficient	NOUN
issue-791	154	12	(	(	PUNCT
issue-791	154	13	factual	factual	ADJ
issue-791	154	14	=	=	SYM
issue-791	154	15	41,86	41,86	NUM
issue-791	154	16	;	;	PUNCT
issue-791	154	17	ftable	ftable	NOUN
issue-791	154	18	=	=	SYM
issue-791	154	19	2,36	2,36	X
issue-791	154	20	)	)	PUNCT
issue-791	154	21	shows	show	VERB
issue-791	154	22	the	the	DET
issue-791	154	23	high	high	ADJ
issue-791	154	24	statistical	statistical	ADJ
issue-791	154	25	significance	significance	NOUN
issue-791	154	26	of	of	ADP
issue-791	154	27	the	the	DET
issue-791	154	28	model	model	NOUN
issue-791	154	29	.	.	PUNCT
issue-791	155	1	before	before	ADP
issue-791	155	2	interpreting	interpret	VERB
issue-791	155	3	the	the	DET
issue-791	155	4	results	result	NOUN
issue-791	155	5	of	of	ADP
issue-791	155	6	the	the	DET
issue-791	155	7	shadow	shadow	NOUN
issue-791	155	8	economy	economy	NOUN
issue-791	155	9	analysis	analysis	NOUN
issue-791	155	10	using	use	VERB
issue-791	155	11	the	the	DET
issue-791	155	12	hidden	hide	VERB
issue-791	155	13	cost	cost	NOUN
issue-791	155	14	of	of	ADP
issue-791	155	15	equity	equity	NOUN
issue-791	155	16	method	method	NOUN
issue-791	155	17	,	,	PUNCT
issue-791	155	18	it	it	PRON
issue-791	155	19	should	should	AUX
issue-791	155	20	be	be	AUX
issue-791	155	21	emphasized	emphasize	VERB
issue-791	155	22	that	that	SCONJ
issue-791	155	23	undeclared	undeclared	ADJ
issue-791	155	24	business	business	NOUN
issue-791	155	25	income	income	NOUN
issue-791	155	26	is	be	AUX
issue-791	155	27	just	just	ADV
issue-791	155	28	one	one	NUM
issue-791	155	29	(	(	PUNCT
issue-791	155	30	albeit	albeit	SCONJ
issue-791	155	31	the	the	DET
issue-791	155	32	largest	large	ADJ
issue-791	155	33	)	)	PUNCT
issue-791	155	34	component	component	NOUN
issue-791	155	35	of	of	ADP
issue-791	155	36	the	the	DET
issue-791	155	37	shadow	shadow	NOUN
issue-791	155	38	economy	economy	NOUN
issue-791	155	39	,	,	PUNCT
issue-791	155	40	along	along	ADP
issue-791	155	41	with	with	ADP
issue-791	155	42	undeclared	undeclared	ADJ
issue-791	155	43	wages	wage	NOUN
issue-791	155	44	and	and	CCONJ
issue-791	155	45	hidden	hidden	ADJ
issue-791	155	46	employment	employment	NOUN
issue-791	155	47	income	income	NOUN
issue-791	155	48	.	.	PUNCT
issue-791	156	1	applying	apply	VERB
issue-791	156	2	the	the	DET
issue-791	156	3	approach	approach	NOUN
issue-791	156	4	of	of	ADP
issue-791	156	5	t.	t.	PROPN
issue-791	156	6	putnins	putnin	NOUN
issue-791	156	7	and	and	CCONJ
issue-791	156	8	a.	a.	PROPN
issue-791	156	9	sauka	sauka	PROPN
issue-791	156	10	(	(	PUNCT
issue-791	156	11	2015	2015	NUM
issue-791	156	12	)	)	PUNCT
issue-791	156	13	,	,	PUNCT
issue-791	156	14	the	the	DET
issue-791	156	15	kyiv	kyiv	PROPN
issue-791	156	16	international	international	PROPN
issue-791	156	17	institute	institute	PROPN
issue-791	156	18	of	of	ADP
issue-791	156	19	sociology	sociology	PROPN
issue-791	156	20	(	(	PUNCT
issue-791	156	21	kiis	kiis	PROPN
issue-791	156	22	)	)	PUNCT
issue-791	156	23	,	,	PUNCT
issue-791	156	24	based	base	VERB
issue-791	156	25	on	on	ADP
issue-791	156	26	surveys	survey	NOUN
issue-791	156	27	of	of	ADP
issue-791	156	28	800	800	NUM
issue-791	156	29	executives	executive	NOUN
issue-791	156	30	and	and	CCONJ
issue-791	156	31	top	top	ADJ
issue-791	156	32	managers	manager	NOUN
issue-791	156	33	of	of	ADP
issue-791	156	34	companies	company	NOUN
issue-791	156	35	,	,	PUNCT
issue-791	156	36	estimated	estimate	VERB
issue-791	156	37	the	the	DET
issue-791	156	38	shadow	shadow	NOUN
issue-791	156	39	economy	economy	NOUN
issue-791	156	40	of	of	ADP
issue-791	156	41	ukraine	ukraine	NOUN
issue-791	156	42	in	in	ADP
issue-791	156	43	2017	2017	NUM
issue-791	156	44	–	–	PUNCT
issue-791	156	45	2018	2018	NUM
issue-791	156	46	.	.	PUNCT
issue-791	157	1	the	the	DET
issue-791	157	2	level	level	NOUN
issue-791	157	3	of	of	ADP
issue-791	157	4	the	the	DET
issue-791	157	5	shadow	shadow	NOUN
issue-791	157	6	economy	economy	NOUN
issue-791	157	7	in	in	ADP
issue-791	157	8	2018	2018	NUM
issue-791	157	9	made	make	VERB
issue-791	157	10	up	up	ADP
issue-791	157	11	47.2	47.2	NUM
issue-791	157	12	%	%	NOUN
issue-791	157	13	of	of	ADP
issue-791	157	14	total	total	ADJ
issue-791	157	15	gdp	gdp	NOUN
issue-791	157	16	and	and	CCONJ
issue-791	157	17	46.8	46.8	NUM
issue-791	157	18	%	%	NOUN
issue-791	157	19	in	in	ADP
issue-791	157	20	2017	2017	NUM
issue-791	157	21	.	.	PUNCT
issue-791	158	1	the	the	DET
issue-791	158	2	largest	large	ADJ
issue-791	158	3	share	share	NOUN
issue-791	158	4	of	of	ADP
issue-791	158	5	the	the	DET
issue-791	158	6	shadow	shadow	NOUN
issue-791	158	7	economy	economy	NOUN
issue-791	158	8	is	be	AUX
issue-791	158	9	hidden	hide	VERB
issue-791	158	10	business	business	NOUN
issue-791	158	11	income	income	NOUN
issue-791	158	12	(	(	PUNCT
issue-791	158	13	about	about	ADP
issue-791	158	14	57–60	57–60	NUM
issue-791	158	15	%	%	NOUN
issue-791	158	16	)	)	PUNCT
issue-791	158	17	(	(	PUNCT
issue-791	158	18	the	the	DET
issue-791	158	19	results	result	NOUN
issue-791	158	20	of	of	ADP
issue-791	158	21	the	the	DET
issue-791	158	22	study	study	NOUN
issue-791	158	23	under	under	ADP
issue-791	158	24	the	the	DET
issue-791	158	25	project	project	NOUN
issue-791	158	26	shadow	shadow	NOUN
issue-791	158	27	h2020	h2020	NOUN
issue-791	158	28	,	,	PUNCT
issue-791	158	29	2019	2019	NUM
issue-791	158	30	)	)	PUNCT
issue-791	158	31	.	.	PUNCT
issue-791	159	1	the	the	DET
issue-791	159	2	rest	rest	NOUN
issue-791	159	3	is	be	AUX
issue-791	159	4	the	the	DET
issue-791	159	5	concealment	concealment	NOUN
issue-791	159	6	of	of	ADP
issue-791	159	7	employee	employee	NOUN
issue-791	159	8	income	income	NOUN
issue-791	159	9	(	(	PUNCT
issue-791	159	10	the	the	DET
issue-791	159	11	income	income	NOUN
issue-791	159	12	of	of	ADP
issue-791	159	13	unregistered	unregistered	ADJ
issue-791	159	14	workers	worker	NOUN
issue-791	159	15	and	and	CCONJ
issue-791	159	16	undeclared	undeclared	ADJ
issue-791	159	17	wages	wage	NOUN
issue-791	159	18	)	)	PUNCT
issue-791	159	19	.	.	PUNCT
issue-791	160	1	according	accord	VERB
issue-791	160	2	to	to	ADP
issue-791	160	3	this	this	DET
issue-791	160	4	approach	approach	NOUN
issue-791	160	5	,	,	PUNCT
issue-791	160	6	the	the	DET
issue-791	160	7	shadow	shadow	NOUN
issue-791	160	8	income	income	NOUN
issue-791	160	9	of	of	ADP
issue-791	160	10	enterprises	enterprise	NOUN
issue-791	160	11	is	be	AUX
issue-791	160	12	about	about	ADV
issue-791	160	13	a	a	DET
issue-791	160	14	quarter	quarter	NOUN
issue-791	160	15	of	of	ADP
issue-791	160	16	gdp	gdp	NOUN
issue-791	160	17	(	(	PUNCT
issue-791	160	18	2018	2018	NUM
issue-791	160	19	)	)	PUNCT
issue-791	160	20	.	.	PUNCT
issue-791	161	1	therefore	therefore	ADV
issue-791	161	2	,	,	PUNCT
issue-791	161	3	the	the	DET
issue-791	161	4	range	range	NOUN
issue-791	161	5	of	of	ADP
issue-791	161	6	estimates	estimate	NOUN
issue-791	161	7	of	of	ADP
issue-791	161	8	the	the	DET
issue-791	161	9	shadow	shadow	NOUN
issue-791	161	10	economy	economy	NOUN
issue-791	161	11	level	level	NOUN
issue-791	161	12	in	in	ADP
issue-791	161	13	ukraine	ukraine	NOUN
issue-791	161	14	,	,	PUNCT
issue-791	161	15	depending	depend	VERB
issue-791	161	16	on	on	ADP
issue-791	161	17	the	the	DET
issue-791	161	18	chosen	choose	VERB
issue-791	161	19	method	method	NOUN
issue-791	161	20	of	of	ADP
issue-791	161	21	determination	determination	NOUN
issue-791	161	22	,	,	PUNCT
issue-791	161	23	is	be	AUX
issue-791	161	24	quite	quite	ADV
issue-791	161	25	varied	varied	ADJ
issue-791	161	26	:	:	PUNCT
issue-791	161	27	from	from	ADP
issue-791	161	28	47	47	NUM
issue-791	161	29	%	%	NOUN
issue-791	161	30	(	(	PUNCT
issue-791	161	31	zbruch	zbruch	NOUN
issue-791	161	32	,	,	PUNCT
issue-791	161	33	2015	2015	NUM
issue-791	161	34	)	)	PUNCT
issue-791	161	35	to	to	ADP
issue-791	161	36	23.8	23.8	NUM
issue-791	161	37	%	%	NOUN
issue-791	161	38	of	of	ADP
issue-791	161	39	gdp	gdp	NOUN
issue-791	161	40	(	(	PUNCT
issue-791	161	41	national	national	PROPN
issue-791	161	42	bank	bank	PROPN
issue-791	161	43	of	of	ADP
issue-791	161	44	ukraine	ukraine	NOUN
issue-791	161	45	,	,	PUNCT
issue-791	161	46	2020	2020	NUM
issue-791	161	47	)	)	PUNCT
issue-791	161	48	.	.	PUNCT
issue-791	162	1	our	our	PRON
issue-791	162	2	estimates	estimate	NOUN
issue-791	162	3	of	of	ADP
issue-791	162	4	2018	2018	NUM
issue-791	162	5	are	be	AUX
issue-791	162	6	near	near	ADP
issue-791	162	7	the	the	DET
issue-791	162	8	lower	low	ADJ
issue-791	162	9	limit	limit	NOUN
issue-791	162	10	of	of	ADP
issue-791	162	11	the	the	DET
issue-791	162	12	range	range	NOUN
issue-791	162	13	.	.	PUNCT
issue-791	163	1	in	in	ADP
issue-791	163	2	general	general	ADJ
issue-791	163	3	,	,	PUNCT
issue-791	163	4	compared	compare	VERB
issue-791	163	5	to	to	ADP
issue-791	163	6	alternative	alternative	ADJ
issue-791	163	7	calculations	calculation	NOUN
issue-791	163	8	,	,	PUNCT
issue-791	163	9	for	for	ADP
issue-791	163	10	example	example	NOUN
issue-791	163	11	the	the	DET
issue-791	163	12	ministry	ministry	PROPN
issue-791	163	13	of	of	ADP
issue-791	163	14	economic	economic	PROPN
issue-791	163	15	development	development	NOUN
issue-791	163	16	,	,	PUNCT
issue-791	163	17	the	the	DET
issue-791	163	18	proposed	propose	VERB
issue-791	163	19	method	method	NOUN
issue-791	163	20	is	be	AUX
issue-791	163	21	more	more	ADV
issue-791	163	22	sensitive	sensitive	ADJ
issue-791	163	23	to	to	ADP
issue-791	163	24	risks	risk	NOUN
issue-791	163	25	,	,	PUNCT
issue-791	163	26	as	as	ADV
issue-791	163	27	well	well	ADV
issue-791	163	28	as	as	ADP
issue-791	163	29	to	to	ADP
issue-791	163	30	decisions	decision	NOUN
issue-791	163	31	aimed	aim	VERB
issue-791	163	32	at	at	ADP
issue-791	163	33	improving	improve	VERB
issue-791	163	34	business	business	NOUN
issue-791	163	35	conditions	condition	NOUN
issue-791	163	36	.	.	PUNCT
issue-791	164	1	evidently	evidently	ADV
issue-791	164	2	,	,	PUNCT
issue-791	164	3	the	the	DET
issue-791	164	4	exacerbation	exacerbation	NOUN
issue-791	164	5	of	of	ADP
issue-791	164	6	risks	risk	NOUN
issue-791	164	7	automatically	automatically	ADV
issue-791	164	8	reflects	reflect	VERB
issue-791	164	9	on	on	ADP
issue-791	164	10	the	the	DET
issue-791	164	11	expectations	expectation	NOUN
issue-791	164	12	about	about	ADP
issue-791	164	13	the	the	DET
issue-791	164	14	return	return	NOUN
issue-791	164	15	on	on	ADP
issue-791	164	16	investment	investment	NOUN
issue-791	164	17	and	and	CCONJ
issue-791	164	18	the	the	DET
issue-791	164	19	official	official	ADJ
issue-791	164	20	declaration	declaration	NOUN
issue-791	164	21	of	of	ADP
issue-791	164	22	income	income	NOUN
issue-791	164	23	.	.	PUNCT
issue-791	165	1	table	table	NOUN
issue-791	165	2	3	3	NUM
issue-791	165	3	shows	show	VERB
issue-791	165	4	that	that	SCONJ
issue-791	165	5	,	,	PUNCT
issue-791	165	6	over	over	ADP
issue-791	165	7	the	the	DET
issue-791	165	8	years	year	NOUN
issue-791	165	9	of	of	ADP
issue-791	165	10	relatively	relatively	ADV
issue-791	165	11	stable	stable	ADJ
issue-791	165	12	economic	economic	ADJ
issue-791	165	13	conditions	condition	NOUN
issue-791	165	14	,	,	PUNCT
issue-791	165	15	shadow	shadow	NOUN
issue-791	165	16	income	income	NOUN
issue-791	165	17	estimates	estimate	NOUN
issue-791	165	18	are	be	AUX
issue-791	165	19	approximately	approximately	ADV
issue-791	165	20	the	the	DET
issue-791	165	21	same	same	ADJ
issue-791	165	22	according	accord	VERB
issue-791	165	23	to	to	ADP
issue-791	165	24	both	both	DET
issue-791	165	25	the	the	DET
issue-791	165	26	shadow	shadow	NOUN
issue-791	165	27	return	return	VERB
issue-791	165	28	method	method	NOUN
issue-791	165	29	and	and	CCONJ
issue-791	165	30	alternative	alternative	ADJ
issue-791	165	31	approaches	approach	NOUN
issue-791	165	32	.	.	PUNCT
issue-791	166	1	in	in	ADP
issue-791	166	2	times	time	NOUN
issue-791	166	3	of	of	ADP
issue-791	166	4	crisis	crisis	NOUN
issue-791	166	5	(	(	PUNCT
issue-791	166	6	2014–2016	2014–2016	NUM
issue-791	166	7	)	)	PUNCT
issue-791	166	8	and	and	CCONJ
issue-791	166	9	increased	increase	VERB
issue-791	166	10	risks	risk	NOUN
issue-791	166	11	,	,	PUNCT
issue-791	166	12	an	an	DET
issue-791	166	13	abnormally	abnormally	ADV
issue-791	166	14	high	high	ADJ
issue-791	166	15	level	level	NOUN
issue-791	166	16	of	of	ADP
issue-791	166	17	shadowing	shadowing	NOUN
issue-791	166	18	occurs	occur	VERB
issue-791	166	19	.	.	PUNCT
issue-791	167	1	at	at	ADP
issue-791	167	2	first	first	ADJ
issue-791	167	3	glance	glance	NOUN
issue-791	167	4	,	,	PUNCT
issue-791	167	5	the	the	DET
issue-791	167	6	figures	figure	NOUN
issue-791	167	7	of	of	ADP
issue-791	167	8	this	this	DET
issue-791	167	9	period	period	NOUN
issue-791	167	10	are	be	AUX
issue-791	167	11	too	too	ADV
issue-791	167	12	high	high	ADJ
issue-791	167	13	.	.	PUNCT
issue-791	168	1	however	however	ADV
issue-791	168	2	,	,	PUNCT
issue-791	168	3	the	the	DET
issue-791	168	4	analysis	analysis	NOUN
issue-791	168	5	of	of	ADP
issue-791	168	6	the	the	DET
issue-791	168	7	enterprises	enterprise	NOUN
issue-791	168	8	’	'	PUNCT
issue-791	168	9	official	official	ADJ
issue-791	168	10	reporting	reporting	NOUN
issue-791	168	11	data	datum	NOUN
issue-791	168	12	,	,	PUNCT
issue-791	168	13	as	as	ADV
issue-791	168	14	well	well	ADV
issue-791	168	15	as	as	ADP
issue-791	168	16	the	the	DET
issue-791	168	17	level	level	NOUN
issue-791	168	18	table	table	NOUN
issue-791	168	19	3	3	NUM
issue-791	168	20	calculation	calculation	NOUN
issue-791	168	21	of	of	ADP
issue-791	168	22	the	the	DET
issue-791	168	23	shadow	shadow	NOUN
issue-791	168	24	income	income	NOUN
issue-791	168	25	of	of	ADP
issue-791	168	26	enterprises	enterprise	NOUN
issue-791	168	27	in	in	ADP
issue-791	168	28	ukraine	ukraine	NOUN
issue-791	168	29	based	base	VERB
issue-791	168	30	on	on	ADP
issue-791	168	31	the	the	DET
issue-791	168	32	shadow	shadow	NOUN
issue-791	168	33	cost	cost	NOUN
issue-791	168	34	of	of	ADP
issue-791	168	35	equity	equity	NOUN
issue-791	168	36	,	,	PUNCT
issue-791	168	37	2010–2018	2010–2018	NUM
issue-791	168	38	year	year	NOUN
issue-791	168	39	roe	roe	NOUN
issue-791	168	40	(	(	PUNCT
issue-791	168	41	х1	х1	PROPN
issue-791	168	42	)	)	PUNCT
issue-791	168	43	expected	expect	VERB
issue-791	168	44	market	market	NOUN
issue-791	168	45	return	return	NOUN
issue-791	168	46	,	,	PUNCT
issue-791	168	47	smoothed	smooth	VERB
issue-791	168	48	(	(	PUNCT
issue-791	168	49	х2	х2	NOUN
issue-791	168	50	)	)	PUNCT
issue-791	168	51	shadow	shadow	NOUN
issue-791	168	52	cost	cost	NOUN
issue-791	168	53	of	of	ADP
issue-791	168	54	equity	equity	NOUN
issue-791	168	55	,	,	PUNCT
issue-791	168	56	%	%	NOUN
issue-791	168	57	equity	equity	NOUN
issue-791	168	58	,	,	PUNCT
issue-791	168	59	bln	bln	NUM
issue-791	168	60	.	.	PUNCT
issue-791	169	1	uah	uah	PROPN
issue-791	169	2	shadow	shadow	NOUN
issue-791	169	3	income	income	PROPN
issue-791	169	4	,	,	PUNCT
issue-791	169	5	bln	bln	NUM
issue-791	169	6	.	.	PUNCT
issue-791	170	1	uah	uah	PROPN
issue-791	170	2	gdp	gdp	PROPN
issue-791	170	3	,	,	PUNCT
issue-791	170	4	bln	bln	NUM
issue-791	170	5	.	.	PUNCT
issue-791	170	6	uah	uah	PROPN
issue-791	170	7	shadow	shadow	NOUN
issue-791	170	8	income	income	NOUN
issue-791	170	9	,	,	PUNCT
issue-791	170	10	percent	percent	NOUN
issue-791	170	11	of	of	ADP
issue-791	170	12	gdp	gdp	NOUN
issue-791	170	13	(	(	PUNCT
issue-791	170	14	y	y	PROPN
issue-791	170	15	)	)	PUNCT
issue-791	170	16	shadow	shadow	NOUN
issue-791	170	17	income	income	NOUN
issue-791	170	18	,	,	PUNCT
issue-791	170	19	percent	percent	NOUN
issue-791	170	20	of	of	ADP
issue-791	170	21	gdp	gdp	NOUN
issue-791	170	22	,	,	PUNCT
issue-791	170	23	estimated	estimate	VERB
issue-791	170	24	(	(	PUNCT
issue-791	170	25	ye	ye	NOUN
issue-791	170	26	)	)	PUNCT
issue-791	170	27	2010	2010	NUM
issue-791	170	28	1.0	1.0	NUM
issue-791	170	29	32.8	32.8	NUM
issue-791	170	30	31.8	31.8	NUM
issue-791	170	31	1339	1339	NUM
issue-791	170	32	425.8	425.8	NUM
issue-791	170	33	1079.3	1079.3	NUM
issue-791	170	34	39	39	NUM
issue-791	170	35	33	33	NUM
issue-791	170	36	2011	2011	NUM
issue-791	170	37	4.5	4.5	NUM
issue-791	170	38	27.6	27.6	NUM
issue-791	170	39	23.1	23.1	NUM
issue-791	170	40	1510	1510	NUM
issue-791	170	41	348.8	348.8	NUM
issue-791	170	42	1299.9	1299.9	NUM
issue-791	170	43	27	27	NUM
issue-791	170	44	25	25	NUM
issue-791	170	45	2012	2012	NUM
issue-791	170	46	2.0	2.0	NUM
issue-791	170	47	19.4	19.4	NUM
issue-791	170	48	17.4	17.4	NUM
issue-791	170	49	1780	1780	NUM
issue-791	170	50	309.7	309.7	NUM
issue-791	170	51	1404.7	1404.7	NUM
issue-791	170	52	22	22	NUM
issue-791	170	53	22	22	NUM
issue-791	170	54	2013	2013	NUM
issue-791	170	55	-1.2	-1.2	NOUN
issue-791	170	56	16.4	16.4	NUM
issue-791	170	57	17.6	17.6	NUM
issue-791	170	58	1932	1932	NUM
issue-791	170	59	340.0	340.0	NUM
issue-791	170	60	1465.2	1465.2	NUM
issue-791	170	61	23	23	NUM
issue-791	170	62	22	22	NUM
issue-791	170	63	2014	2014	NUM
issue-791	170	64	-36.1	-36.1	VERB
issue-791	170	65	20.0	20.0	NUM
issue-791	170	66	56.1	56.1	NUM
issue-791	170	67	1633	1633	NUM
issue-791	170	68	916.1	916.1	NUM
issue-791	170	69	1586.9	1586.9	NUM
issue-791	170	70	58	58	NUM
issue-791	170	71	62	62	NUM
issue-791	170	72	2015	2015	NUM
issue-791	170	73	-18.2	-18.2	NOUN
issue-791	170	74	43.1	43.1	NUM
issue-791	170	75	61.3	61.3	NUM
issue-791	170	76	2049	2049	NUM
issue-791	170	77	1256.0	1256.0	NUM
issue-791	170	78	1988.5	1988.5	NUM
issue-791	170	79	63	63	NUM
issue-791	170	80	61	61	NUM
issue-791	170	81	2016	2016	NUM
issue-791	170	82	1.2	1.2	NUM
issue-791	170	83	50.7	50.7	NUM
issue-791	170	84	49.5	49.5	NUM
issue-791	170	85	2396	2396	NUM
issue-791	170	86	1186.0	1186.0	NUM
issue-791	170	87	2383.2	2383.2	NUM
issue-791	170	88	50	50	NUM
issue-791	170	89	46	46	NUM
issue-791	170	90	2017	2017	NUM
issue-791	170	91	7.0	7.0	NUM
issue-791	170	92	52.8	52.8	NUM
issue-791	170	93	45.8	45.8	NUM
issue-791	170	94	2423	2423	NUM
issue-791	170	95	1109.7	1109.7	NUM
issue-791	170	96	2982.9	2982.9	NUM
issue-791	170	97	37	37	NUM
issue-791	170	98	42	42	NUM
issue-791	170	99	2018	2018	NUM
issue-791	170	100	11.2	11.2	NUM
issue-791	170	101	34.5	34.5	NUM
issue-791	170	102	23.3	23.3	NUM
issue-791	170	103	2564	2564	NUM
issue-791	170	104	597.4	597.4	NUM
issue-791	170	105	3558.7	3558.7	NUM
issue-791	170	106	17	17	NUM
issue-791	170	107	24	24	NUM
issue-791	170	108	0	0	NUM
issue-791	170	109	10	10	NUM
issue-791	170	110	20	20	NUM
issue-791	170	111	30	30	NUM
issue-791	170	112	40	40	NUM
issue-791	170	113	50	50	NUM
issue-791	170	114	60	60	NUM
issue-791	170	115	70	70	NUM
issue-791	170	116	2010	2010	NUM
issue-791	170	117	2011	2011	NUM
issue-791	170	118	2012	2012	NUM
issue-791	170	119	2013	2013	NUM
issue-791	170	120	2014	2014	NUM
issue-791	170	121	2015	2015	NUM
issue-791	170	122	2016	2016	NUM
issue-791	170	123	2017	2017	NUM
issue-791	170	124	2018	2018	NUM
issue-791	170	125	th	th	X
issue-791	170	126	e	e	X
issue-791	170	127	sh	sh	PROPN
issue-791	170	128	ad	ad	NOUN
issue-791	171	1	ow	ow	INTJ
issue-791	171	2	in	in	ADP
issue-791	171	3	co	co	NOUN
issue-791	171	4	m	m	PROPN
issue-791	171	5	e	e	NOUN
issue-791	171	6	,	,	PUNCT
issue-791	171	7	in	in	ADP
issue-791	171	8	%	%	INTJ
issue-791	171	9	o	o	NOUN
issue-791	172	1	f	f	X
issue-791	172	2	g	g	NOUN
issue-791	172	3	dp	dp	NOUN
issue-791	172	4	y	y	PROPN
issue-791	172	5	ye	ye	PRON
issue-791	172	6	figure	figure	NOUN
issue-791	172	7	2	2	NUM
issue-791	172	8	.	.	PUNCT
issue-791	173	1	dynamics	dynamic	NOUN
issue-791	173	2	of	of	ADP
issue-791	173	3	the	the	DET
issue-791	173	4	given	give	VERB
issue-791	173	5	and	and	CCONJ
issue-791	173	6	estimated	estimated	ADJ
issue-791	173	7	level	level	NOUN
issue-791	173	8	of	of	ADP
issue-791	173	9	shadow	shadow	NOUN
issue-791	173	10	income	income	NOUN
issue-791	173	11	of	of	ADP
issue-791	173	12	enterprises	enterprise	NOUN
issue-791	173	13	baltic	baltic	PROPN
issue-791	173	14	journal	journal	PROPN
issue-791	173	15	of	of	ADP
issue-791	173	16	economic	economic	ADJ
issue-791	173	17	studies	study	NOUN
issue-791	173	18	67	67	NUM
issue-791	173	19	vol	vol	NOUN
issue-791	173	20	.	.	PROPN
issue-791	174	1	6	6	NUM
issue-791	174	2	,	,	PUNCT
issue-791	174	3	no	no	INTJ
issue-791	174	4	.	.	NOUN
issue-791	174	5	2	2	NUM
issue-791	174	6	,	,	PUNCT
issue-791	174	7	2020	2020	NUM
issue-791	174	8	of	of	ADP
issue-791	174	9	inflation	inflation	NOUN
issue-791	174	10	,	,	PUNCT
issue-791	174	11	sovereign	sovereign	ADJ
issue-791	174	12	ratings	rating	NOUN
issue-791	174	13	of	of	ADP
issue-791	174	14	the	the	DET
issue-791	174	15	country	country	NOUN
issue-791	174	16	and	and	CCONJ
issue-791	174	17	gdp	gdp	NOUN
issue-791	174	18	collapse	collapse	NOUN
issue-791	174	19	,	,	PUNCT
issue-791	174	20	reveals	reveal	VERB
issue-791	174	21	that	that	SCONJ
issue-791	174	22	the	the	DET
issue-791	174	23	estimates	estimate	NOUN
issue-791	174	24	of	of	ADP
issue-791	174	25	income	income	NOUN
issue-791	174	26	shadowing	shadowing	NOUN
issue-791	174	27	are	be	AUX
issue-791	174	28	the	the	DET
issue-791	174	29	most	most	ADV
issue-791	174	30	realistic	realistic	ADJ
issue-791	174	31	.	.	PUNCT
issue-791	175	1	other	other	ADJ
issue-791	175	2	methods	method	NOUN
issue-791	175	3	of	of	ADP
issue-791	175	4	valuation	valuation	NOUN
issue-791	175	5	are	be	AUX
issue-791	175	6	not	not	PART
issue-791	175	7	so	so	ADV
issue-791	175	8	risk	risk	NOUN
issue-791	175	9	-	-	PUNCT
issue-791	175	10	sensitive	sensitive	ADJ
issue-791	175	11	,	,	PUNCT
issue-791	175	12	and	and	CCONJ
issue-791	175	13	therefore	therefore	ADV
issue-791	175	14	,	,	PUNCT
issue-791	175	15	demonstrate	demonstrate	VERB
issue-791	175	16	a	a	DET
issue-791	175	17	more	more	ADV
issue-791	175	18	optimistic	optimistic	ADJ
issue-791	175	19	picture	picture	NOUN
issue-791	175	20	.	.	PUNCT
issue-791	176	1	for	for	ADP
issue-791	176	2	most	most	ADJ
issue-791	176	3	businesses	business	NOUN
issue-791	176	4	,	,	PUNCT
issue-791	176	5	income	income	NOUN
issue-791	176	6	shadowing	shadowing	NOUN
issue-791	176	7	is	be	AUX
issue-791	176	8	a	a	DET
issue-791	176	9	major	major	ADJ
issue-791	176	10	offset	offset	NOUN
issue-791	176	11	for	for	ADP
issue-791	176	12	increased	increase	VERB
issue-791	176	13	risks	risk	NOUN
issue-791	176	14	and	and	CCONJ
issue-791	176	15	a	a	DET
issue-791	176	16	way	way	NOUN
issue-791	176	17	of	of	ADP
issue-791	176	18	ensuring	ensure	VERB
issue-791	176	19	a	a	DET
issue-791	176	20	high	high	ADJ
issue-791	176	21	expected	expect	VERB
issue-791	176	22	return	return	NOUN
issue-791	176	23	on	on	ADP
issue-791	176	24	investment	investment	NOUN
issue-791	176	25	.	.	PUNCT
issue-791	177	1	for	for	ADP
issue-791	177	2	example	example	NOUN
issue-791	177	3	,	,	PUNCT
issue-791	177	4	costs	cost	NOUN
issue-791	177	5	of	of	ADP
issue-791	177	6	equity	equity	NOUN
issue-791	177	7	of	of	ADP
issue-791	177	8	the	the	DET
issue-791	177	9	average	average	ADJ
issue-791	177	10	ukrainian	ukrainian	ADJ
issue-791	177	11	enterprise	enterprise	NOUN
issue-791	177	12	is	be	AUX
issue-791	177	13	2–2.5	2–2.5	NUM
issue-791	177	14	times	time	NOUN
issue-791	177	15	higher	high	ADJ
issue-791	177	16	than	than	ADP
issue-791	177	17	the	the	DET
issue-791	177	18	corresponding	corresponding	ADJ
issue-791	177	19	indicator	indicator	NOUN
issue-791	177	20	of	of	ADP
issue-791	177	21	enterprises	enterprise	NOUN
issue-791	177	22	operating	operate	VERB
issue-791	177	23	in	in	ADP
issue-791	177	24	developed	develop	VERB
issue-791	177	25	markets	market	NOUN
issue-791	177	26	.	.	PUNCT
issue-791	178	1	the	the	DET
issue-791	178	2	main	main	ADJ
issue-791	178	3	sources	source	NOUN
issue-791	178	4	of	of	ADP
issue-791	178	5	profit	profit	NOUN
issue-791	178	6	(	(	PUNCT
issue-791	178	7	high	high	ADJ
issue-791	178	8	risk	risk	NOUN
issue-791	178	9	premium	premium	NOUN
issue-791	178	10	)	)	PUNCT
issue-791	178	11	for	for	ADP
issue-791	178	12	owners	owner	NOUN
issue-791	178	13	(	(	PUNCT
issue-791	178	14	investors	investor	NOUN
issue-791	178	15	)	)	PUNCT
issue-791	178	16	are	be	AUX
issue-791	178	17	:	:	PUNCT
issue-791	178	18	–	–	PUNCT
issue-791	178	19	high	high	ADJ
issue-791	178	20	prices	price	NOUN
issue-791	178	21	for	for	ADP
issue-791	178	22	products	product	NOUN
issue-791	178	23	(	(	PUNCT
issue-791	178	24	services	service	NOUN
issue-791	178	25	)	)	PUNCT
issue-791	178	26	;	;	PUNCT
issue-791	178	27	–	–	PUNCT
issue-791	178	28	staff	staff	NOUN
issue-791	178	29	cost	cost	VERB
issue-791	178	30	savings	saving	NOUN
issue-791	178	31	(	(	PUNCT
issue-791	178	32	low	low	ADJ
issue-791	178	33	salaries	salary	NOUN
issue-791	178	34	and	and	CCONJ
issue-791	178	35	unofficial	unofficial	ADJ
issue-791	178	36	salaries	salary	NOUN
issue-791	178	37	)	)	PUNCT
issue-791	178	38	;	;	PUNCT
issue-791	178	39	–	–	PUNCT
issue-791	178	40	counterfeiting	counterfeiting	NOUN
issue-791	178	41	and	and	CCONJ
issue-791	178	42	use	use	NOUN
issue-791	178	43	of	of	ADP
issue-791	178	44	low	low	ADJ
issue-791	178	45	-	-	PUNCT
issue-791	178	46	quality	quality	NOUN
issue-791	178	47	materials	material	NOUN
issue-791	178	48	,	,	PUNCT
issue-791	178	49	products	product	NOUN
issue-791	178	50	,	,	PUNCT
issue-791	178	51	services	service	NOUN
issue-791	178	52	;	;	PUNCT
issue-791	178	53	–	–	PUNCT
issue-791	178	54	savings	saving	NOUN
issue-791	178	55	from	from	ADP
issue-791	178	56	the	the	DET
issue-791	178	57	use	use	NOUN
issue-791	178	58	of	of	ADP
issue-791	178	59	different	different	ADJ
issue-791	178	60	tax	tax	NOUN
issue-791	178	61	evasion	evasion	NOUN
issue-791	178	62	schemes	scheme	NOUN
issue-791	178	63	;	;	PUNCT
issue-791	178	64	–	–	PUNCT
issue-791	178	65	other	other	ADJ
issue-791	178	66	sources	source	NOUN
issue-791	178	67	,	,	PUNCT
issue-791	178	68	such	such	ADJ
issue-791	178	69	as	as	ADP
issue-791	178	70	low	low	ADJ
issue-791	178	71	recourse	recourse	NOUN
issue-791	178	72	usage	usage	NOUN
issue-791	178	73	fees	fee	NOUN
issue-791	178	74	,	,	PUNCT
issue-791	178	75	low	low	ADJ
issue-791	178	76	rental	rental	ADJ
issue-791	178	77	costs	cost	NOUN
issue-791	178	78	,	,	PUNCT
issue-791	178	79	and	and	CCONJ
issue-791	178	80	more	more	ADJ
issue-791	178	81	.	.	PUNCT
issue-791	179	1	table	table	NOUN
issue-791	179	2	4	4	NUM
issue-791	179	3	summarizes	summarize	VERB
issue-791	179	4	the	the	DET
issue-791	179	5	results	result	NOUN
issue-791	179	6	of	of	ADP
issue-791	179	7	the	the	DET
issue-791	179	8	survey	survey	NOUN
issue-791	179	9	on	on	ADP
issue-791	179	10	sources	source	NOUN
issue-791	179	11	of	of	ADP
issue-791	179	12	profit	profit	NOUN
issue-791	179	13	(	(	PUNCT
issue-791	179	14	high	high	ADJ
issue-791	179	15	risk	risk	NOUN
issue-791	179	16	premium	premium	NOUN
issue-791	179	17	)	)	PUNCT
issue-791	179	18	for	for	ADP
issue-791	179	19	owners	owner	NOUN
issue-791	179	20	(	(	PUNCT
issue-791	179	21	investors	investor	NOUN
issue-791	179	22	)	)	PUNCT
issue-791	179	23	in	in	ADP
issue-791	179	24	ukraine	ukraine	NOUN
issue-791	179	25	as	as	ADP
issue-791	179	26	of	of	ADP
issue-791	179	27	2018	2018	NUM
issue-791	179	28	.	.	PUNCT
issue-791	180	1	the	the	DET
issue-791	180	2	results	result	NOUN
issue-791	180	3	of	of	ADP
issue-791	180	4	the	the	DET
issue-791	180	5	study	study	NOUN
issue-791	180	6	revealed	reveal	VERB
issue-791	180	7	that	that	SCONJ
issue-791	180	8	the	the	DET
issue-791	180	9	most	most	ADV
issue-791	180	10	significant	significant	ADJ
issue-791	180	11	sources	source	NOUN
issue-791	180	12	of	of	ADP
issue-791	180	13	ensuring	ensure	VERB
issue-791	180	14	an	an	DET
issue-791	180	15	additional	additional	ADJ
issue-791	180	16	risk	risk	NOUN
issue-791	180	17	premium	premium	NOUN
issue-791	180	18	for	for	ADP
issue-791	180	19	investing	invest	VERB
issue-791	180	20	in	in	ADP
issue-791	180	21	ukraine	ukraine	PROPN
issue-791	180	22	are	be	AUX
issue-791	180	23	low	low	ADJ
issue-791	180	24	staff	staff	NOUN
issue-791	180	25	costs	cost	NOUN
issue-791	180	26	and	and	CCONJ
issue-791	180	27	savings	saving	NOUN
issue-791	180	28	from	from	ADP
issue-791	180	29	tax	tax	NOUN
issue-791	180	30	evasion	evasion	NOUN
issue-791	180	31	schemes	scheme	NOUN
issue-791	180	32	.	.	PUNCT
issue-791	181	1	tax	tax	NOUN
issue-791	181	2	evasion	evasion	NOUN
issue-791	181	3	is	be	AUX
issue-791	181	4	a	a	DET
issue-791	181	5	source	source	NOUN
issue-791	181	6	of	of	ADP
issue-791	181	7	offsetting	offset	VERB
issue-791	181	8	additional	additional	ADJ
issue-791	181	9	risks	risk	NOUN
issue-791	181	10	for	for	ADP
issue-791	181	11	75	75	NUM
issue-791	181	12	%	%	NOUN
issue-791	181	13	of	of	ADP
issue-791	181	14	large	large	ADJ
issue-791	181	15	and	and	CCONJ
issue-791	181	16	95	95	NUM
issue-791	181	17	%	%	NOUN
issue-791	181	18	of	of	ADP
issue-791	181	19	small	small	ADJ
issue-791	181	20	and	and	CCONJ
issue-791	181	21	medium	medium	ADJ
issue-791	181	22	-	-	PUNCT
issue-791	181	23	sized	sized	ADJ
issue-791	181	24	enterprises	enterprise	NOUN
issue-791	181	25	.	.	PUNCT
issue-791	182	1	staff	staff	NOUN
issue-791	182	2	cost	cost	NOUN
issue-791	182	3	savings	saving	NOUN
issue-791	182	4	are	be	AUX
issue-791	182	5	the	the	DET
issue-791	182	6	main	main	ADJ
issue-791	182	7	source	source	NOUN
issue-791	182	8	of	of	ADP
issue-791	182	9	generating	generate	VERB
issue-791	182	10	added	add	VERB
issue-791	182	11	costs	cost	NOUN
issue-791	182	12	for	for	ADP
issue-791	182	13	owners	owner	NOUN
issue-791	182	14	of	of	ADP
issue-791	182	15	90	90	NUM
issue-791	182	16	%	%	NOUN
issue-791	182	17	of	of	ADP
issue-791	182	18	large	large	ADJ
issue-791	182	19	and	and	CCONJ
issue-791	182	20	85	85	NUM
issue-791	182	21	%	%	NOUN
issue-791	182	22	of	of	ADP
issue-791	182	23	the	the	DET
issue-791	182	24	ukrainian	ukrainian	ADJ
issue-791	182	25	smes	sme	NOUN
issue-791	182	26	that	that	PRON
issue-791	182	27	participated	participate	VERB
issue-791	182	28	in	in	ADP
issue-791	182	29	the	the	DET
issue-791	182	30	survey	survey	NOUN
issue-791	182	31	.	.	PUNCT
issue-791	183	1	high	high	ADJ
issue-791	183	2	costs	cost	NOUN
issue-791	183	3	of	of	ADP
issue-791	183	4	equity	equity	NOUN
issue-791	183	5	,	,	PUNCT
issue-791	183	6	in	in	ADP
issue-791	183	7	particular	particular	ADJ
issue-791	183	8	,	,	PUNCT
issue-791	183	9	their	their	PRON
issue-791	183	10	shadow	shadow	NOUN
issue-791	183	11	component	component	NOUN
issue-791	183	12	is	be	AUX
issue-791	183	13	one	one	NUM
issue-791	183	14	of	of	ADP
issue-791	183	15	the	the	DET
issue-791	183	16	reasons	reason	NOUN
issue-791	183	17	for	for	ADP
issue-791	183	18	low	low	ADJ
issue-791	183	19	wages	wage	NOUN
issue-791	183	20	in	in	ADP
issue-791	183	21	ukraine	ukraine	NOUN
issue-791	183	22	and	and	CCONJ
issue-791	183	23	their	their	PRON
issue-791	183	24	shadowing	shadowing	NOUN
issue-791	183	25	.	.	PUNCT
issue-791	184	1	according	accord	VERB
issue-791	184	2	to	to	ADP
issue-791	184	3	kiis	kiis	PROPN
issue-791	184	4	survey	survey	NOUN
issue-791	184	5	,	,	PUNCT
issue-791	184	6	32	32	NUM
issue-791	184	7	%	%	NOUN
issue-791	184	8	of	of	ADP
issue-791	184	9	company	company	NOUN
issue-791	184	10	employees	employee	NOUN
issue-791	184	11	in	in	ADP
issue-791	184	12	2018	2018	NUM
issue-791	184	13	were	be	AUX
issue-791	184	14	not	not	PART
issue-791	184	15	formally	formally	ADV
issue-791	184	16	employed	employ	VERB
issue-791	184	17	,	,	PUNCT
issue-791	184	18	45	45	NUM
issue-791	184	19	%	%	NOUN
issue-791	184	20	were	be	AUX
issue-791	184	21	paid	pay	VERB
issue-791	184	22	informally	informally	ADV
issue-791	184	23	(	(	PUNCT
issue-791	184	24	the	the	DET
issue-791	184	25	results	result	NOUN
issue-791	184	26	of	of	ADP
issue-791	184	27	the	the	DET
issue-791	184	28	study	study	NOUN
issue-791	184	29	under	under	ADP
issue-791	184	30	the	the	DET
issue-791	184	31	project	project	NOUN
issue-791	184	32	shadow	shadow	NOUN
issue-791	184	33	h2020	h2020	NOUN
issue-791	184	34	,	,	PUNCT
issue-791	184	35	2019	2019	NUM
issue-791	184	36	)	)	PUNCT
issue-791	184	37	.	.	PUNCT
issue-791	185	1	such	such	ADJ
issue-791	185	2	results	result	NOUN
issue-791	185	3	correlate	correlate	VERB
issue-791	185	4	with	with	ADP
issue-791	185	5	the	the	DET
issue-791	185	6	results	result	NOUN
issue-791	185	7	of	of	ADP
issue-791	185	8	empirical	empirical	ADJ
issue-791	185	9	analysis	analysis	NOUN
issue-791	185	10	,	,	PUNCT
issue-791	185	11	which	which	PRON
issue-791	185	12	have	have	AUX
issue-791	185	13	revealed	reveal	VERB
issue-791	185	14	no	no	DET
issue-791	185	15	significant	significant	ADJ
issue-791	185	16	relationship	relationship	NOUN
issue-791	185	17	between	between	ADP
issue-791	185	18	the	the	DET
issue-791	185	19	country	country	NOUN
issue-791	185	20	's	's	PART
issue-791	185	21	level	level	NOUN
issue-791	185	22	of	of	ADP
issue-791	185	23	risk	risk	NOUN
issue-791	185	24	(	(	PUNCT
issue-791	185	25	in	in	ADP
issue-791	185	26	emerging	emerge	VERB
issue-791	185	27	markets	market	NOUN
issue-791	185	28	)	)	PUNCT
issue-791	185	29	and	and	CCONJ
issue-791	185	30	unemployment	unemployment	NOUN
issue-791	185	31	(	(	PUNCT
issue-791	185	32	tereshchenko	tereshchenko	NOUN
issue-791	185	33	,	,	PUNCT
issue-791	185	34	2017	2017	NUM
issue-791	185	35	)	)	PUNCT
issue-791	185	36	.	.	PUNCT
issue-791	186	1	this	this	PRON
issue-791	186	2	means	mean	VERB
issue-791	186	3	that	that	SCONJ
issue-791	186	4	one	one	NUM
issue-791	186	5	of	of	ADP
issue-791	186	6	additional	additional	ADJ
issue-791	186	7	risks	risk	NOUN
issue-791	186	8	offsets	offset	NOUN
issue-791	186	9	is	be	AUX
issue-791	186	10	the	the	DET
issue-791	186	11	wage	wage	NOUN
issue-791	186	12	shadowing	shadowing	NOUN
issue-791	186	13	.	.	PUNCT
issue-791	187	1	in	in	ADP
issue-791	187	2	addition	addition	NOUN
issue-791	187	3	,	,	PUNCT
issue-791	187	4	low	low	ADJ
issue-791	187	5	wages	wage	NOUN
issue-791	187	6	counterbalances	counterbalance	VERB
issue-791	187	7	substantially	substantially	ADV
issue-791	187	8	the	the	DET
issue-791	187	9	effect	effect	NOUN
issue-791	187	10	of	of	ADP
issue-791	187	11	dismissal	dismissal	NOUN
issue-791	187	12	of	of	ADP
issue-791	187	13	employees	employee	NOUN
issue-791	187	14	due	due	ADJ
issue-791	187	15	to	to	ADP
issue-791	187	16	rising	rise	VERB
issue-791	187	17	risks	risk	NOUN
issue-791	187	18	.	.	PUNCT
issue-791	188	1	as	as	ADP
issue-791	188	2	a	a	DET
issue-791	188	3	result	result	NOUN
issue-791	188	4	,	,	PUNCT
issue-791	188	5	in	in	ADP
issue-791	188	6	ukraine	ukraine	NOUN
issue-791	188	7	,	,	PUNCT
issue-791	188	8	the	the	DET
issue-791	188	9	share	share	NOUN
issue-791	188	10	of	of	ADP
issue-791	188	11	wage	wage	NOUN
issue-791	188	12	costs	cost	NOUN
issue-791	188	13	in	in	ADP
issue-791	188	14	the	the	DET
issue-791	188	15	cost	cost	NOUN
issue-791	188	16	structure	structure	NOUN
issue-791	188	17	and	and	CCONJ
issue-791	188	18	in	in	ADP
issue-791	188	19	relation	relation	NOUN
issue-791	188	20	to	to	ADP
issue-791	188	21	gdp	gdp	NOUN
issue-791	188	22	is	be	AUX
issue-791	188	23	substantially	substantially	ADV
issue-791	188	24	lower	low	ADJ
issue-791	188	25	than	than	ADP
issue-791	188	26	in	in	ADP
issue-791	188	27	developed	developed	ADJ
issue-791	188	28	countries	country	NOUN
issue-791	188	29	.	.	PUNCT
issue-791	189	1	the	the	DET
issue-791	189	2	study	study	NOUN
issue-791	189	3	of	of	ADP
issue-791	189	4	the	the	DET
issue-791	189	5	causality	causality	NOUN
issue-791	189	6	of	of	ADP
issue-791	189	7	risks	risk	NOUN
issue-791	189	8	,	,	PUNCT
issue-791	189	9	the	the	DET
issue-791	189	10	cost	cost	NOUN
issue-791	189	11	of	of	ADP
issue-791	189	12	attracting	attract	VERB
issue-791	189	13	capital	capital	NOUN
issue-791	189	14	and	and	CCONJ
issue-791	189	15	the	the	DET
issue-791	189	16	size	size	NOUN
issue-791	189	17	of	of	ADP
issue-791	189	18	income	income	NOUN
issue-791	189	19	shadowing	shadowing	NOUN
issue-791	189	20	,	,	PUNCT
issue-791	189	21	implies	imply	VERB
issue-791	189	22	that	that	SCONJ
issue-791	189	23	in	in	ADP
issue-791	189	24	order	order	NOUN
issue-791	189	25	to	to	PART
issue-791	189	26	minimize	minimize	VERB
issue-791	189	27	the	the	DET
issue-791	189	28	shadow	shadow	NOUN
issue-791	189	29	economy	economy	VERB
issue-791	189	30	the	the	DET
issue-791	189	31	risks	risk	NOUN
issue-791	189	32	of	of	ADP
issue-791	189	33	enterprise	enterprise	NOUN
issue-791	189	34	activity	activity	NOUN
issue-791	189	35	,	,	PUNCT
issue-791	189	36	especially	especially	ADV
issue-791	189	37	macroeconomic	macroeconomic	ADJ
issue-791	189	38	,	,	PUNCT
issue-791	189	39	corruption	corruption	NOUN
issue-791	189	40	,	,	PUNCT
issue-791	189	41	criminal	criminal	ADJ
issue-791	189	42	risks	risk	NOUN
issue-791	189	43	and	and	CCONJ
issue-791	189	44	risks	risk	NOUN
issue-791	189	45	of	of	ADP
issue-791	189	46	low	low	ADJ
issue-791	189	47	property	property	NOUN
issue-791	189	48	protection	protection	NOUN
issue-791	189	49	should	should	AUX
issue-791	189	50	be	be	AUX
issue-791	189	51	reduced	reduce	VERB
issue-791	189	52	.	.	PUNCT
issue-791	190	1	4	4	X
issue-791	190	2	.	.	X
issue-791	190	3	conclusion	conclusion	NOUN
issue-791	190	4	empirical	empirical	ADJ
issue-791	190	5	data	datum	NOUN
issue-791	190	6	confirm	confirm	VERB
issue-791	190	7	that	that	SCONJ
issue-791	190	8	the	the	PRON
issue-791	190	9	higher	high	ADJ
issue-791	190	10	the	the	DET
issue-791	190	11	local	local	ADJ
issue-791	190	12	risks	risk	NOUN
issue-791	190	13	,	,	PUNCT
issue-791	190	14	the	the	PRON
issue-791	190	15	greater	great	ADJ
issue-791	190	16	the	the	DET
issue-791	190	17	size	size	NOUN
issue-791	190	18	of	of	ADP
issue-791	190	19	the	the	DET
issue-791	190	20	shadow	shadow	NOUN
issue-791	190	21	economy	economy	NOUN
issue-791	190	22	,	,	PUNCT
issue-791	190	23	and	and	CCONJ
issue-791	190	24	concealment	concealment	NOUN
issue-791	190	25	of	of	ADP
issue-791	190	26	income	income	NOUN
issue-791	190	27	relatively	relatively	ADV
issue-791	190	28	.	.	PUNCT
issue-791	191	1	in	in	ADP
issue-791	191	2	times	time	NOUN
issue-791	191	3	of	of	ADP
issue-791	191	4	crisis	crisis	NOUN
issue-791	191	5	and	and	CCONJ
issue-791	191	6	recession	recession	NOUN
issue-791	191	7	,	,	PUNCT
issue-791	191	8	an	an	DET
issue-791	191	9	increase	increase	NOUN
issue-791	191	10	in	in	ADP
issue-791	191	11	shadow	shadow	NOUN
issue-791	191	12	activity	activity	NOUN
issue-791	191	13	occurs	occur	VERB
issue-791	191	14	.	.	PUNCT
issue-791	192	1	in	in	ADP
issue-791	192	2	the	the	DET
issue-791	192	3	presence	presence	NOUN
issue-791	192	4	of	of	ADP
issue-791	192	5	causal	causal	ADJ
issue-791	192	6	relations	relation	NOUN
issue-791	192	7	between	between	ADP
issue-791	192	8	the	the	DET
issue-791	192	9	shadow	shadow	NOUN
issue-791	192	10	activity	activity	NOUN
issue-791	192	11	of	of	ADP
issue-791	192	12	enterprises	enterprise	NOUN
issue-791	192	13	and	and	CCONJ
issue-791	192	14	the	the	DET
issue-791	192	15	cost	cost	NOUN
issue-791	192	16	of	of	ADP
issue-791	192	17	equity	equity	NOUN
issue-791	192	18	,	,	PUNCT
issue-791	192	19	the	the	DET
issue-791	192	20	latter	latter	ADJ
issue-791	192	21	should	should	AUX
issue-791	192	22	be	be	AUX
issue-791	192	23	considered	consider	VERB
issue-791	192	24	as	as	ADP
issue-791	192	25	a	a	DET
issue-791	192	26	variable	variable	NOUN
issue-791	192	27	to	to	PART
issue-791	192	28	calculate	calculate	VERB
issue-791	192	29	the	the	DET
issue-791	192	30	amount	amount	NOUN
issue-791	192	31	of	of	ADP
issue-791	192	32	undeclared	undeclared	ADJ
issue-791	192	33	income	income	NOUN
issue-791	192	34	of	of	ADP
issue-791	192	35	enterprises	enterprise	NOUN
issue-791	192	36	as	as	ADP
issue-791	192	37	the	the	DET
issue-791	192	38	largest	large	ADJ
issue-791	192	39	segment	segment	NOUN
issue-791	192	40	of	of	ADP
issue-791	192	41	the	the	DET
issue-791	192	42	shadow	shadow	NOUN
issue-791	192	43	economy	economy	NOUN
issue-791	192	44	.	.	PUNCT
issue-791	193	1	given	give	VERB
issue-791	193	2	the	the	DET
issue-791	193	3	high	high	ADJ
issue-791	193	4	risks	risk	NOUN
issue-791	193	5	of	of	ADP
issue-791	193	6	doing	do	VERB
issue-791	193	7	business	business	NOUN
issue-791	193	8	on	on	ADP
issue-791	193	9	em	em	PRON
issue-791	193	10	,	,	PUNCT
issue-791	193	11	particularly	particularly	ADV
issue-791	193	12	in	in	ADP
issue-791	193	13	ukraine	ukraine	NOUN
issue-791	193	14	,	,	PUNCT
issue-791	193	15	investors	investor	NOUN
issue-791	193	16	(	(	PUNCT
issue-791	193	17	owners	owner	NOUN
issue-791	193	18	)	)	PUNCT
issue-791	193	19	expect	expect	VERB
issue-791	193	20	an	an	DET
issue-791	193	21	excessively	excessively	ADV
issue-791	193	22	high	high	ADJ
issue-791	193	23	risk	risk	NOUN
issue-791	193	24	premium	premium	NOUN
issue-791	193	25	.	.	PUNCT
issue-791	194	1	for	for	ADP
issue-791	194	2	super	super	ADJ
issue-791	194	3	profit	profit	NOUN
issue-791	194	4	,	,	PUNCT
issue-791	194	5	businesses	business	NOUN
issue-791	194	6	in	in	ADP
issue-791	194	7	such	such	ADJ
issue-791	194	8	countries	country	NOUN
issue-791	194	9	use	use	VERB
issue-791	194	10	minimizing	minimize	VERB
issue-791	194	11	staff	staff	NOUN
issue-791	194	12	costs	cost	NOUN
issue-791	194	13	,	,	PUNCT
issue-791	194	14	tax	tax	NOUN
issue-791	194	15	evasion	evasion	NOUN
issue-791	194	16	,	,	PUNCT
issue-791	194	17	reducing	reduce	VERB
issue-791	194	18	the	the	DET
issue-791	194	19	quality	quality	NOUN
issue-791	194	20	of	of	ADP
issue-791	194	21	finished	finished	ADJ
issue-791	194	22	goods	good	NOUN
issue-791	194	23	(	(	PUNCT
issue-791	194	24	services	service	NOUN
issue-791	194	25	)	)	PUNCT
issue-791	194	26	,	,	PUNCT
issue-791	194	27	or	or	CCONJ
issue-791	194	28	counterfeit	counterfeit	ADJ
issue-791	194	29	goods	good	NOUN
issue-791	194	30	.	.	PUNCT
issue-791	195	1	most	most	ADJ
issue-791	195	2	of	of	ADP
issue-791	195	3	cost	cost	NOUN
issue-791	195	4	of	of	ADP
issue-791	195	5	investing	invest	VERB
issue-791	195	6	capital	capital	NOUN
issue-791	195	7	in	in	ADP
issue-791	195	8	these	these	DET
issue-791	195	9	countries	country	NOUN
issue-791	195	10	flows	flow	VERB
issue-791	195	11	into	into	ADP
issue-791	195	12	the	the	DET
issue-791	195	13	shadow	shadow	NOUN
issue-791	195	14	sector	sector	NOUN
issue-791	195	15	.	.	PUNCT
issue-791	196	1	therefore	therefore	ADV
issue-791	196	2	,	,	PUNCT
issue-791	196	3	a	a	DET
issue-791	196	4	vicious	vicious	ADJ
issue-791	196	5	circle	circle	NOUN
issue-791	196	6	occur	occur	VERB
issue-791	196	7	:	:	PUNCT
issue-791	196	8	high	high	ADJ
issue-791	196	9	risks	risk	NOUN
issue-791	196	10	force	force	VERB
issue-791	196	11	companies	company	NOUN
issue-791	196	12	to	to	PART
issue-791	196	13	use	use	VERB
issue-791	196	14	shadow	shadow	NOUN
issue-791	196	15	schemes	scheme	NOUN
issue-791	196	16	and	and	CCONJ
issue-791	196	17	sources	source	NOUN
issue-791	196	18	of	of	ADP
issue-791	196	19	payment	payment	NOUN
issue-791	196	20	of	of	ADP
issue-791	196	21	an	an	DET
issue-791	196	22	additional	additional	ADJ
issue-791	196	23	risk	risk	NOUN
issue-791	196	24	premium	premium	NOUN
issue-791	196	25	to	to	ADP
issue-791	196	26	investors	investor	NOUN
issue-791	196	27	;	;	PUNCT
issue-791	196	28	on	on	ADP
issue-791	196	29	table	table	NOUN
issue-791	196	30	4	4	NUM
issue-791	196	31	sources	source	NOUN
issue-791	196	32	of	of	ADP
issue-791	196	33	additional	additional	ADJ
issue-791	196	34	risk	risk	NOUN
issue-791	196	35	premium	premium	NOUN
issue-791	196	36	for	for	ADP
issue-791	196	37	investing	invest	VERB
issue-791	196	38	in	in	ADP
issue-791	196	39	an	an	DET
issue-791	196	40	enterprise	enterprise	NOUN
issue-791	196	41	’s	’s	PART
issue-791	196	42	equity	equity	NOUN
issue-791	196	43	,	,	PUNCT
issue-791	196	44	an	an	DET
issue-791	196	45	example	example	NOUN
issue-791	196	46	of	of	ADP
issue-791	196	47	ukraine	ukraine	NOUN
issue-791	196	48	(	(	PUNCT
issue-791	196	49	data	datum	NOUN
issue-791	196	50	from	from	ADP
issue-791	196	51	tereshenko	tereshenko	NOUN
issue-791	196	52	,	,	PUNCT
issue-791	196	53	voloshanyk	voloshanyk	NOUN
issue-791	196	54	&	&	CCONJ
issue-791	196	55	savchuk	savchuk	PROPN
issue-791	196	56	,	,	PUNCT
issue-791	196	57	2019	2019	NUM
issue-791	196	58	)	)	PUNCT
issue-791	196	59	characteristics	characteristic	VERB
issue-791	196	60	large	large	ADJ
issue-791	196	61	enterprises	enterprise	NOUN
issue-791	196	62	small	small	ADJ
issue-791	196	63	and	and	CCONJ
issue-791	196	64	medium	medium	ADJ
issue-791	196	65	-	-	PUNCT
issue-791	196	66	sized	sized	ADJ
issue-791	196	67	enterprises	enterprise	NOUN
issue-791	196	68	amount	amount	NOUN
issue-791	196	69	%	%	NOUN
issue-791	196	70	amount	amount	NOUN
issue-791	196	71	%	%	NOUN
issue-791	196	72	total	total	ADJ
issue-791	196	73	enterprises	enterprise	NOUN
issue-791	196	74	surveyed	survey	VERB
issue-791	196	75	20	20	NUM
issue-791	196	76	100	100	NUM
issue-791	196	77	20	20	NUM
issue-791	196	78	100	100	NUM
issue-791	196	79	enterprises	enterprise	NOUN
issue-791	196	80	that	that	PRON
issue-791	196	81	have	have	AUX
issue-791	196	82	paid	pay	VERB
issue-791	196	83	official	official	ADJ
issue-791	196	84	dividends	dividend	NOUN
issue-791	196	85	over	over	ADP
issue-791	196	86	the	the	DET
issue-791	196	87	past	past	ADJ
issue-791	196	88	five	five	NUM
issue-791	196	89	years	year	NOUN
issue-791	196	90	3	3	NUM
issue-791	196	91	15	15	NUM
issue-791	196	92	1	1	NUM
issue-791	196	93	5	5	NUM
issue-791	196	94	enterprises	enterprise	NOUN
issue-791	196	95	that	that	PRON
issue-791	196	96	have	have	AUX
issue-791	196	97	paid	pay	VERB
issue-791	196	98	income	income	NOUN
issue-791	196	99	to	to	ADP
issue-791	196	100	owners	owner	NOUN
issue-791	196	101	over	over	ADP
issue-791	196	102	the	the	DET
issue-791	196	103	past	past	ADJ
issue-791	196	104	five	five	NUM
issue-791	196	105	years	year	NOUN
issue-791	196	106	20	20	NUM
issue-791	196	107	100	100	NUM
issue-791	196	108	20	20	NUM
issue-791	196	109	100	100	NUM
issue-791	196	110	sources	source	NOUN
issue-791	196	111	of	of	ADP
issue-791	196	112	additional	additional	ADJ
issue-791	196	113	risk	risk	NOUN
issue-791	196	114	premium	premium	NOUN
issue-791	196	115	compensation	compensation	NOUN
issue-791	196	116	–	–	PUNCT
issue-791	196	117	high	high	ADJ
issue-791	196	118	prices	price	NOUN
issue-791	196	119	for	for	ADP
issue-791	196	120	products	product	NOUN
issue-791	196	121	(	(	PUNCT
issue-791	196	122	services	service	NOUN
issue-791	196	123	):	):	PUNCT
issue-791	196	124	–	–	PUNCT
issue-791	196	125	staff	staff	NOUN
issue-791	196	126	cost	cost	NOUN
issue-791	196	127	savings	saving	NOUN
issue-791	196	128	(	(	PUNCT
issue-791	196	129	low	low	ADJ
issue-791	196	130	salaries	salary	NOUN
issue-791	196	131	and	and	CCONJ
issue-791	196	132	unofficial	unofficial	ADJ
issue-791	196	133	salaries	salary	NOUN
issue-791	196	134	)	)	PUNCT
issue-791	196	135	;	;	PUNCT
issue-791	196	136	–	–	PUNCT
issue-791	196	137	counterfeiting	counterfeiting	NOUN
issue-791	196	138	and	and	CCONJ
issue-791	196	139	use	use	NOUN
issue-791	196	140	of	of	ADP
issue-791	196	141	low	low	ADJ
issue-791	196	142	-	-	PUNCT
issue-791	196	143	quality	quality	NOUN
issue-791	196	144	materials	material	NOUN
issue-791	196	145	,	,	PUNCT
issue-791	196	146	products	product	NOUN
issue-791	196	147	,	,	PUNCT
issue-791	196	148	services	service	NOUN
issue-791	196	149	;	;	PUNCT
issue-791	196	150	–	–	PUNCT
issue-791	196	151	revenue	revenue	NOUN
issue-791	196	152	shading	shade	VERB
issue-791	196	153	savings	saving	NOUN
issue-791	196	154	;	;	PUNCT
issue-791	196	155	–	–	PUNCT
issue-791	196	156	other	other	ADJ
issue-791	196	157	sources	source	NOUN
issue-791	196	158	.	.	PUNCT
issue-791	197	1	5	5	NUM
issue-791	197	2	18	18	NUM
issue-791	197	3	6	6	NUM
issue-791	197	4	15	15	NUM
issue-791	197	5	8	8	NUM
issue-791	197	6	25	25	NUM
issue-791	197	7	90	90	NUM
issue-791	197	8	30	30	NUM
issue-791	197	9	75	75	NUM
issue-791	197	10	40	40	NUM
issue-791	197	11	1	1	NUM
issue-791	197	12	17	17	NUM
issue-791	197	13	15	15	NUM
issue-791	197	14	19	19	NUM
issue-791	197	15	5	5	NUM
issue-791	197	16	5	5	NUM
issue-791	197	17	85	85	NUM
issue-791	197	18	75	75	NUM
issue-791	197	19	95	95	NUM
issue-791	197	20	25	25	NUM
issue-791	197	21	shadow	shadow	NOUN
issue-791	197	22	schemes	scheme	NOUN
issue-791	197	23	of	of	ADP
issue-791	197	24	income	income	NOUN
issue-791	197	25	payments	payment	NOUN
issue-791	197	26	to	to	ADP
issue-791	197	27	owners	owner	NOUN
issue-791	197	28	(	(	PUNCT
issue-791	197	29	investors	investor	NOUN
issue-791	197	30	):	):	PUNCT
issue-791	197	31	–	–	PUNCT
issue-791	197	32	moving	move	VERB
issue-791	197	33	profits	profit	NOUN
issue-791	197	34	to	to	PART
issue-791	197	35	tax	tax	VERB
issue-791	197	36	havens	haven	NOUN
issue-791	197	37	(	(	PUNCT
issue-791	197	38	offshore	offshore	ADJ
issue-791	197	39	zones	zone	NOUN
issue-791	197	40	)	)	PUNCT
issue-791	197	41	;	;	PUNCT
issue-791	197	42	–	–	PUNCT
issue-791	197	43	fictious	fictious	ADJ
issue-791	197	44	expenses	expense	NOUN
issue-791	197	45	through	through	ADP
issue-791	197	46	missing	miss	VERB
issue-791	197	47	trader	trader	NOUN
issue-791	197	48	;	;	PUNCT
issue-791	197	49	–	–	PUNCT
issue-791	197	50	manipulation	manipulation	NOUN
issue-791	197	51	of	of	ADP
issue-791	197	52	the	the	DET
issue-791	197	53	tax	tax	NOUN
issue-791	197	54	benefits	benefit	NOUN
issue-791	197	55	;	;	PUNCT
issue-791	197	56	–	–	PUNCT
issue-791	197	57	payment	payment	NOUN
issue-791	197	58	of	of	ADP
issue-791	197	59	inflated	inflated	ADJ
issue-791	197	60	royalties	royalty	NOUN
issue-791	197	61	,	,	PUNCT
issue-791	197	62	interest	interest	NOUN
issue-791	197	63	,	,	PUNCT
issue-791	197	64	commissions	commission	NOUN
issue-791	197	65	,	,	PUNCT
issue-791	197	66	agency	agency	NOUN
issue-791	197	67	fees	fee	NOUN
issue-791	197	68	,	,	PUNCT
issue-791	197	69	etc	etc	X
issue-791	197	70	.	.	X
issue-791	197	71	9	9	NUM
issue-791	197	72	8	8	NUM
issue-791	197	73	6	6	NUM
issue-791	197	74	4	4	NUM
issue-791	197	75	45	45	NUM
issue-791	197	76	40	40	NUM
issue-791	197	77	30	30	NUM
issue-791	197	78	20	20	NUM
issue-791	197	79	3	3	NUM
issue-791	197	80	15	15	NUM
issue-791	197	81	7	7	NUM
issue-791	197	82	2	2	NUM
issue-791	197	83	15	15	NUM
issue-791	197	84	75	75	NUM
issue-791	197	85	35	35	NUM
issue-791	197	86	10	10	NUM
issue-791	197	87	baltic	baltic	ADJ
issue-791	197	88	journal	journal	NOUN
issue-791	197	89	of	of	ADP
issue-791	197	90	economic	economic	ADJ
issue-791	197	91	studies	study	NOUN
issue-791	197	92	68	68	NUM
issue-791	197	93	vol	vol	NOUN
issue-791	197	94	.	.	PROPN
issue-791	198	1	6	6	NUM
issue-791	198	2	,	,	PUNCT
issue-791	198	3	no	no	INTJ
issue-791	198	4	.	.	NOUN
issue-791	198	5	2	2	NUM
issue-791	198	6	,	,	PUNCT
issue-791	198	7	2020	2020	NUM
issue-791	198	8	the	the	DET
issue-791	198	9	other	other	ADJ
issue-791	198	10	hand	hand	NOUN
issue-791	199	1	,	,	PUNCT
issue-791	199	2	the	the	DET
issue-791	199	3	shadow	shadow	NOUN
issue-791	199	4	economy	economy	NOUN
issue-791	199	5	is	be	AUX
issue-791	199	6	a	a	DET
issue-791	199	7	risk	risk	NOUN
issue-791	199	8	factor	factor	NOUN
issue-791	199	9	of	of	ADP
issue-791	199	10	an	an	DET
issue-791	199	11	inflated	inflated	ADJ
issue-791	199	12	premium	premium	NOUN
issue-791	199	13	.	.	PUNCT
issue-791	200	1	the	the	DET
issue-791	200	2	key	key	ADJ
issue-791	200	3	parameters	parameter	NOUN
issue-791	200	4	of	of	ADP
issue-791	200	5	a	a	DET
issue-791	200	6	calculation	calculation	NOUN
issue-791	200	7	model	model	NOUN
issue-791	200	8	for	for	ADP
issue-791	200	9	the	the	DET
issue-791	200	10	expected	expect	VERB
issue-791	200	11	cost	cost	NOUN
issue-791	200	12	of	of	ADP
issue-791	200	13	equity	equity	NOUN
issue-791	200	14	capital	capital	NOUN
issue-791	200	15	throughout	throughout	ADP
issue-791	200	16	the	the	DET
issue-791	200	17	entire	entire	ADJ
issue-791	200	18	corporate	corporate	ADJ
issue-791	200	19	sector	sector	NOUN
issue-791	200	20	in	in	ADP
issue-791	200	21	countries	country	NOUN
issue-791	200	22	related	relate	VERB
issue-791	200	23	to	to	ADP
issue-791	200	24	em	em	PRON
issue-791	200	25	are	be	AUX
issue-791	200	26	substantiated	substantiate	VERB
issue-791	200	27	:	:	PUNCT
issue-791	200	28	risk	risk	NOUN
issue-791	200	29	-	-	PUNCT
issue-791	200	30	free	free	ADJ
issue-791	200	31	rate	rate	NOUN
issue-791	200	32	of	of	ADP
issue-791	200	33	return	return	NOUN
issue-791	200	34	,	,	PUNCT
issue-791	200	35	global	global	ADJ
issue-791	200	36	market	market	NOUN
issue-791	200	37	risk	risk	NOUN
issue-791	200	38	premium	premium	NOUN
issue-791	200	39	,	,	PUNCT
issue-791	200	40	country	country	NOUN
issue-791	200	41	risk	risk	NOUN
issue-791	200	42	premium	premium	NOUN
issue-791	200	43	.	.	PUNCT
issue-791	201	1	the	the	DET
issue-791	201	2	beta	beta	ADJ
issue-791	201	3	factor	factor	NOUN
issue-791	201	4	is	be	AUX
issue-791	201	5	omitted	omit	VERB
issue-791	201	6	in	in	ADP
issue-791	201	7	the	the	DET
issue-791	201	8	model	model	NOUN
issue-791	201	9	because	because	SCONJ
issue-791	201	10	it	it	PRON
issue-791	201	11	is	be	AUX
issue-791	201	12	aimed	aim	VERB
issue-791	201	13	at	at	ADP
issue-791	201	14	calculating	calculate	VERB
issue-791	201	15	the	the	DET
issue-791	201	16	average	average	ADJ
issue-791	201	17	market	market	NOUN
issue-791	201	18	rate	rate	NOUN
issue-791	201	19	of	of	ADP
issue-791	201	20	return	return	NOUN
issue-791	201	21	.	.	PUNCT
issue-791	202	1	the	the	DET
issue-791	202	2	estimation	estimation	NOUN
issue-791	202	3	of	of	ADP
issue-791	202	4	the	the	DET
issue-791	202	5	shadow	shadow	NOUN
issue-791	202	6	income	income	NOUN
issue-791	202	7	of	of	ADP
issue-791	202	8	enterprises	enterprise	NOUN
issue-791	202	9	requires	require	VERB
issue-791	202	10	utilisation	utilisation	NOUN
issue-791	202	11	of	of	ADP
issue-791	202	12	the	the	DET
issue-791	202	13	smoothed	smooth	VERB
issue-791	202	14	values	value	NOUN
issue-791	202	15	of	of	ADP
issue-791	202	16	the	the	DET
issue-791	202	17	expected	expect	VERB
issue-791	202	18	risk	risk	NOUN
issue-791	202	19	premium	premium	NOUN
issue-791	202	20	.	.	PUNCT
issue-791	203	1	this	this	PRON
issue-791	203	2	is	be	AUX
issue-791	203	3	due	due	ADJ
issue-791	203	4	to	to	ADP
issue-791	203	5	the	the	DET
issue-791	203	6	fact	fact	NOUN
issue-791	203	7	that	that	SCONJ
issue-791	203	8	some	some	DET
issue-791	203	9	enterprises	enterprise	NOUN
issue-791	203	10	respond	respond	VERB
issue-791	203	11	to	to	ADP
issue-791	203	12	risk	risk	NOUN
issue-791	203	13	factors	factor	NOUN
issue-791	203	14	in	in	ADP
issue-791	203	15	the	the	DET
issue-791	203	16	period	period	NOUN
issue-791	203	17	of	of	ADP
issue-791	203	18	their	their	PRON
issue-791	203	19	manifestation	manifestation	NOUN
issue-791	203	20	,	,	PUNCT
issue-791	203	21	the	the	DET
issue-791	203	22	other	other	ADJ
issue-791	203	23	act	act	NOUN
issue-791	203	24	outstripping	outstrip	VERB
issue-791	203	25	,	,	PUNCT
issue-791	203	26	and	and	CCONJ
issue-791	203	27	some	some	DET
issue-791	203	28	entities	entity	NOUN
issue-791	203	29	need	need	VERB
issue-791	203	30	time	time	NOUN
issue-791	203	31	to	to	PART
issue-791	203	32	understand	understand	VERB
issue-791	203	33	the	the	DET
issue-791	203	34	risk	risk	NOUN
issue-791	203	35	factors	factor	NOUN
issue-791	203	36	and	and	CCONJ
issue-791	203	37	develop	develop	VERB
issue-791	203	38	income	income	NOUN
issue-791	203	39	shadowing	shadow	VERB
issue-791	203	40	schemes	scheme	NOUN
issue-791	203	41	.	.	PUNCT
issue-791	204	1	the	the	DET
issue-791	204	2	shadow	shadow	NOUN
issue-791	204	3	economy	economy	NOUN
issue-791	204	4	component	component	NOUN
issue-791	204	5	,	,	PUNCT
issue-791	204	6	formed	form	VERB
issue-791	204	7	by	by	ADP
issue-791	204	8	shadowing	shadow	VERB
issue-791	204	9	the	the	DET
issue-791	204	10	income	income	NOUN
issue-791	204	11	of	of	ADP
issue-791	204	12	enterprises	enterprise	NOUN
issue-791	204	13	,	,	PUNCT
issue-791	204	14	is	be	AUX
issue-791	204	15	proposed	propose	VERB
issue-791	204	16	to	to	PART
issue-791	204	17	determine	determine	VERB
issue-791	204	18	according	accord	VERB
issue-791	204	19	to	to	ADP
issue-791	204	20	the	the	DET
issue-791	204	21	rate	rate	NOUN
issue-791	204	22	of	of	ADP
issue-791	204	23	the	the	DET
issue-791	204	24	shadow	shadow	NOUN
issue-791	204	25	cost	cost	NOUN
issue-791	204	26	of	of	ADP
issue-791	204	27	equity	equity	NOUN
issue-791	204	28	.	.	PUNCT
issue-791	205	1	the	the	DET
issue-791	205	2	latter	latter	ADJ
issue-791	205	3	is	be	AUX
issue-791	205	4	calculated	calculate	VERB
issue-791	205	5	as	as	ADP
issue-791	205	6	the	the	DET
issue-791	205	7	difference	difference	NOUN
issue-791	205	8	between	between	ADP
issue-791	205	9	the	the	DET
issue-791	205	10	expected	expect	VERB
issue-791	205	11	market	market	NOUN
issue-791	205	12	rate	rate	NOUN
issue-791	205	13	of	of	ADP
issue-791	205	14	cost	cost	NOUN
issue-791	205	15	of	of	ADP
issue-791	205	16	equity	equity	NOUN
issue-791	205	17	and	and	CCONJ
issue-791	205	18	the	the	DET
issue-791	205	19	return	return	NOUN
issue-791	205	20	on	on	ADP
issue-791	205	21	equity	equity	NOUN
issue-791	205	22	invested	invest	VERB
issue-791	205	23	,	,	PUNCT
issue-791	205	24	determined	determine	VERB
issue-791	205	25	on	on	ADP
issue-791	205	26	the	the	DET
issue-791	205	27	basis	basis	NOUN
issue-791	205	28	of	of	ADP
issue-791	205	29	official	official	ADJ
issue-791	205	30	reporting	reporting	NOUN
issue-791	205	31	indicators	indicator	NOUN
issue-791	205	32	.	.	PUNCT
issue-791	206	1	the	the	DET
issue-791	206	2	approximate	approximate	ADJ
issue-791	206	3	value	value	NOUN
issue-791	206	4	of	of	ADP
issue-791	206	5	the	the	DET
issue-791	206	6	absolute	absolute	ADJ
issue-791	206	7	amount	amount	NOUN
issue-791	206	8	of	of	ADP
issue-791	206	9	the	the	DET
issue-791	206	10	shadowed	shadow	VERB
issue-791	206	11	income	income	NOUN
issue-791	206	12	is	be	AUX
issue-791	206	13	derived	derive	VERB
issue-791	206	14	from	from	ADP
issue-791	206	15	the	the	DET
issue-791	206	16	application	application	NOUN
issue-791	206	17	of	of	ADP
issue-791	206	18	the	the	DET
issue-791	206	19	shadow	shadow	NOUN
issue-791	206	20	rate	rate	NOUN
issue-791	206	21	of	of	ADP
issue-791	206	22	cost	cost	NOUN
issue-791	206	23	of	of	ADP
issue-791	206	24	equity	equity	NOUN
issue-791	206	25	to	to	ADP
issue-791	206	26	the	the	DET
issue-791	206	27	value	value	NOUN
issue-791	206	28	of	of	ADP
issue-791	206	29	the	the	DET
issue-791	206	30	assets	asset	NOUN
issue-791	206	31	of	of	ADP
issue-791	206	32	enterprises	enterprise	NOUN
issue-791	206	33	financed	finance	VERB
issue-791	206	34	by	by	ADP
issue-791	206	35	equity	equity	NOUN
issue-791	206	36	.	.	PUNCT
issue-791	207	1	the	the	DET
issue-791	207	2	regression	regression	NOUN
issue-791	207	3	-	-	PUNCT
issue-791	207	4	correlation	correlation	NOUN
issue-791	207	5	analysis	analysis	NOUN
issue-791	207	6	confirms	confirm	VERB
issue-791	207	7	the	the	DET
issue-791	207	8	presence	presence	NOUN
issue-791	207	9	of	of	ADP
issue-791	207	10	a	a	DET
issue-791	207	11	negative	negative	ADJ
issue-791	207	12	correlation	correlation	NOUN
issue-791	207	13	between	between	ADP
issue-791	207	14	the	the	DET
issue-791	207	15	roe	roe	NOUN
issue-791	207	16	and	and	CCONJ
issue-791	207	17	the	the	DET
issue-791	207	18	level	level	NOUN
issue-791	207	19	of	of	ADP
issue-791	207	20	the	the	DET
issue-791	207	21	shadow	shadow	NOUN
issue-791	207	22	economy	economy	NOUN
issue-791	207	23	.	.	PUNCT
issue-791	208	1	the	the	DET
issue-791	208	2	risks	risk	NOUN
issue-791	208	3	of	of	ADP
issue-791	208	4	investing	invest	VERB
issue-791	208	5	in	in	ADP
issue-791	208	6	equity	equity	NOUN
issue-791	208	7	,	,	PUNCT
issue-791	208	8	reflected	reflect	VERB
issue-791	208	9	in	in	ADP
issue-791	208	10	the	the	DET
issue-791	208	11	expected	expect	VERB
issue-791	208	12	return	return	NOUN
issue-791	208	13	on	on	ADP
issue-791	208	14	equity	equity	NOUN
issue-791	208	15	,	,	PUNCT
issue-791	208	16	and	and	CCONJ
issue-791	208	17	the	the	DET
issue-791	208	18	total	total	ADJ
issue-791	208	19	shadow	shadow	NOUN
issue-791	208	20	income	income	NOUN
issue-791	208	21	correlate	correlate	VERB
issue-791	208	22	positively	positively	ADV
issue-791	208	23	.	.	PUNCT
issue-791	209	1	the	the	DET
issue-791	209	2	analysis	analysis	NOUN
issue-791	209	3	of	of	ADP
issue-791	209	4	the	the	DET
issue-791	209	5	dependence	dependence	NOUN
issue-791	209	6	of	of	ADP
issue-791	209	7	the	the	DET
issue-791	209	8	shadow	shadow	NOUN
issue-791	209	9	income	income	NOUN
issue-791	209	10	of	of	ADP
issue-791	209	11	enterprises	enterprise	NOUN
issue-791	209	12	on	on	ADP
issue-791	209	13	these	these	DET
issue-791	209	14	factors	factor	NOUN
issue-791	209	15	confirms	confirm	VERB
issue-791	209	16	a	a	DET
issue-791	209	17	similar	similar	ADJ
issue-791	209	18	pattern	pattern	NOUN
issue-791	209	19	.	.	PUNCT
issue-791	210	1	comparison	comparison	NOUN
issue-791	210	2	of	of	ADP
issue-791	210	3	the	the	DET
issue-791	210	4	obtained	obtain	VERB
issue-791	210	5	values	value	NOUN
issue-791	210	6	of	of	ADP
issue-791	210	7	the	the	DET
issue-791	210	8	shadow	shadow	NOUN
issue-791	210	9	income	income	NOUN
issue-791	210	10	of	of	ADP
issue-791	210	11	enterprises	enterprise	NOUN
issue-791	210	12	in	in	ADP
issue-791	210	13	ukraine	ukraine	NOUN
issue-791	210	14	with	with	ADP
issue-791	210	15	alternative	alternative	ADJ
issue-791	210	16	estimates	estimate	NOUN
issue-791	210	17	of	of	ADP
issue-791	210	18	the	the	DET
issue-791	210	19	shadow	shadow	NOUN
issue-791	210	20	economy	economy	NOUN
issue-791	210	21	reveals	reveal	VERB
issue-791	210	22	a	a	DET
issue-791	210	23	higher	high	ADJ
issue-791	210	24	sensitivity	sensitivity	NOUN
issue-791	210	25	of	of	ADP
issue-791	210	26	the	the	DET
issue-791	210	27	proposed	propose	VERB
issue-791	210	28	method	method	NOUN
issue-791	210	29	to	to	ADP
issue-791	210	30	changes	change	NOUN
issue-791	210	31	in	in	ADP
issue-791	210	32	country	country	NOUN
issue-791	210	33	risks	risk	NOUN
issue-791	210	34	,	,	PUNCT
issue-791	210	35	as	as	ADV
issue-791	210	36	well	well	ADV
issue-791	210	37	as	as	ADP
issue-791	210	38	to	to	ADP
issue-791	210	39	decisions	decision	NOUN
issue-791	210	40	aimed	aim	VERB
issue-791	210	41	at	at	ADP
issue-791	210	42	improving	improve	VERB
issue-791	210	43	business	business	NOUN
issue-791	210	44	conditions	condition	NOUN
issue-791	210	45	.	.	PUNCT
issue-791	211	1	for	for	ADP
issue-791	211	2	example	example	NOUN
issue-791	211	3	,	,	PUNCT
issue-791	211	4	the	the	DET
issue-791	211	5	abnormally	abnormally	ADV
issue-791	211	6	high	high	ADJ
issue-791	211	7	values	value	NOUN
issue-791	211	8	of	of	ADP
issue-791	211	9	the	the	DET
issue-791	211	10	shadowing	shadowing	NOUN
issue-791	211	11	of	of	ADP
issue-791	211	12	corporate	corporate	ADJ
issue-791	211	13	income	income	NOUN
issue-791	211	14	in	in	ADP
issue-791	211	15	2014–2015	2014–2015	NUM
issue-791	211	16	is	be	AUX
issue-791	211	17	the	the	DET
issue-791	211	18	result	result	NOUN
issue-791	211	19	of	of	ADP
issue-791	211	20	a	a	DET
issue-791	211	21	sharp	sharp	ADJ
issue-791	211	22	downgrades	downgrade	NOUN
issue-791	211	23	of	of	ADP
issue-791	211	24	the	the	DET
issue-791	211	25	country	country	NOUN
issue-791	211	26	's	's	PART
issue-791	211	27	credit	credit	NOUN
issue-791	211	28	and	and	CCONJ
issue-791	211	29	investment	investment	NOUN
issue-791	211	30	ratings	rating	NOUN
issue-791	211	31	,	,	PUNCT
issue-791	211	32	extremely	extremely	ADV
issue-791	211	33	high	high	ADJ
issue-791	211	34	inflation	inflation	NOUN
issue-791	211	35	and	and	CCONJ
issue-791	211	36	other	other	ADJ
issue-791	211	37	threats	threat	NOUN
issue-791	211	38	.	.	PUNCT
issue-791	212	1	obviously	obviously	ADV
issue-791	212	2	,	,	PUNCT
issue-791	212	3	under	under	ADP
issue-791	212	4	such	such	ADJ
issue-791	212	5	conditions	condition	NOUN
issue-791	212	6	,	,	PUNCT
issue-791	212	7	most	most	ADJ
issue-791	212	8	of	of	ADP
issue-791	212	9	the	the	DET
issue-791	212	10	business	business	NOUN
issue-791	212	11	has	have	AUX
issue-791	212	12	transformed	transform	VERB
issue-791	212	13	its	its	PRON
issue-791	212	14	incomes	income	NOUN
issue-791	212	15	into	into	ADP
issue-791	212	16	the	the	DET
issue-791	212	17	shadow	shadow	NOUN
issue-791	212	18	.	.	PUNCT
issue-791	213	1	this	this	PRON
issue-791	213	2	was	be	AUX
issue-791	213	3	reflected	reflect	VERB
issue-791	213	4	in	in	ADP
issue-791	213	5	both	both	CCONJ
issue-791	213	6	the	the	DET
issue-791	213	7	sharp	sharp	ADJ
issue-791	213	8	decline	decline	NOUN
issue-791	213	9	in	in	ADP
issue-791	213	10	official	official	ADJ
issue-791	213	11	gdp	gdp	NOUN
issue-791	213	12	and	and	CCONJ
issue-791	213	13	the	the	DET
issue-791	213	14	negative	negative	ADJ
issue-791	213	15	values	value	NOUN
issue-791	213	16	of	of	ADP
issue-791	213	17	financial	financial	ADJ
issue-791	213	18	results	result	NOUN
issue-791	213	19	.	.	PUNCT
issue-791	214	1	since	since	SCONJ
issue-791	214	2	2017	2017	NUM
issue-791	214	3	,	,	PUNCT
issue-791	214	4	the	the	DET
issue-791	214	5	size	size	NOUN
issue-791	214	6	of	of	ADP
issue-791	214	7	shadow	shadow	NOUN
issue-791	214	8	incomes	income	NOUN
issue-791	214	9	has	have	AUX
issue-791	214	10	been	be	AUX
issue-791	214	11	decreasing	decrease	VERB
issue-791	214	12	sharply	sharply	ADV
issue-791	214	13	,	,	PUNCT
issue-791	214	14	as	as	ADP
issue-791	214	15	a	a	DET
issue-791	214	16	result	result	NOUN
issue-791	214	17	of	of	ADP
issue-791	214	18	an	an	DET
issue-791	214	19	improvement	improvement	NOUN
issue-791	214	20	in	in	ADP
issue-791	214	21	the	the	DET
issue-791	214	22	ease	ease	NOUN
issue-791	214	23	of	of	ADP
issue-791	214	24	doing	do	VERB
issue-791	214	25	business	business	NOUN
issue-791	214	26	index	index	NOUN
issue-791	214	27	in	in	ADP
issue-791	214	28	ukraine	ukraine	NOUN
issue-791	214	29	,	,	PUNCT
issue-791	214	30	a	a	DET
issue-791	214	31	decrease	decrease	NOUN
issue-791	214	32	in	in	ADP
issue-791	214	33	inflation	inflation	NOUN
issue-791	214	34	and	and	CCONJ
issue-791	214	35	a	a	DET
issue-791	214	36	gradual	gradual	ADJ
issue-791	214	37	decrease	decrease	NOUN
issue-791	214	38	in	in	ADP
issue-791	214	39	the	the	DET
issue-791	214	40	risk	risk	NOUN
issue-791	214	41	premium	premium	NOUN
issue-791	214	42	.	.	PUNCT
issue-791	215	1	the	the	DET
issue-791	215	2	consequence	consequence	NOUN
issue-791	215	3	is	be	AUX
issue-791	215	4	an	an	DET
issue-791	215	5	increase	increase	NOUN
issue-791	215	6	in	in	ADP
issue-791	215	7	official	official	ADJ
issue-791	215	8	incomes	income	NOUN
issue-791	215	9	of	of	ADP
issue-791	215	10	enterprises	enterprise	NOUN
issue-791	215	11	and	and	CCONJ
issue-791	215	12	gdp	gdp	NOUN
issue-791	215	13	of	of	ADP
issue-791	215	14	the	the	DET
issue-791	215	15	country	country	NOUN
issue-791	215	16	.	.	PUNCT
issue-791	216	1	it	it	PRON
issue-791	216	2	is	be	AUX
issue-791	216	3	confirmed	confirm	VERB
issue-791	216	4	that	that	SCONJ
issue-791	216	5	the	the	DET
issue-791	216	6	exacerbation	exacerbation	NOUN
issue-791	216	7	of	of	ADP
issue-791	216	8	risks	risk	NOUN
issue-791	216	9	automatically	automatically	ADV
issue-791	216	10	reflects	reflect	VERB
issue-791	216	11	on	on	ADP
issue-791	216	12	the	the	DET
issue-791	216	13	expectations	expectation	NOUN
issue-791	216	14	regarding	regard	VERB
issue-791	216	15	the	the	DET
issue-791	216	16	return	return	NOUN
issue-791	216	17	on	on	ADP
issue-791	216	18	investment	investment	NOUN
issue-791	216	19	and	and	CCONJ
issue-791	216	20	on	on	ADP
issue-791	216	21	the	the	DET
issue-791	216	22	official	official	ADJ
issue-791	216	23	declaration	declaration	NOUN
issue-791	216	24	of	of	ADP
issue-791	216	25	income	income	NOUN
issue-791	216	26	.	.	PUNCT
issue-791	217	1	therefore	therefore	ADV
issue-791	217	2	,	,	PUNCT
issue-791	217	3	the	the	DET
issue-791	217	4	shadow	shadow	NOUN
issue-791	217	5	economy	economy	NOUN
issue-791	217	6	reduction	reduction	NOUN
issue-791	217	7	is	be	AUX
issue-791	217	8	related	relate	VERB
issue-791	217	9	directly	directly	ADV
issue-791	217	10	to	to	ADP
issue-791	217	11	a	a	DET
issue-791	217	12	set	set	NOUN
issue-791	217	13	of	of	ADP
issue-791	217	14	measures	measure	NOUN
issue-791	217	15	aimed	aim	VERB
issue-791	217	16	at	at	ADP
issue-791	217	17	minimizing	minimize	VERB
issue-791	217	18	the	the	DET
issue-791	217	19	risks	risk	NOUN
issue-791	217	20	of	of	ADP
issue-791	217	21	business	business	NOUN
issue-791	217	22	activities	activity	NOUN
issue-791	217	23	.	.	PUNCT
issue-791	218	1	references	reference	NOUN
issue-791	218	2	:	:	PUNCT
issue-791	218	3	gardner	gardner	NOUN
issue-791	218	4	,	,	PUNCT
issue-791	218	5	m.	m.	NOUN
issue-791	218	6	,	,	PUNCT
issue-791	218	7	wamhoff	wamhoff	NOUN
issue-791	218	8	,	,	PUNCT
issue-791	218	9	s.	s.	PROPN
issue-791	218	10	,	,	PUNCT
issue-791	218	11	martellotta	martellotta	NOUN
issue-791	218	12	,	,	PUNCT
issue-791	218	13	m.	m.	NOUN
issue-791	218	14	,	,	PUNCT
issue-791	218	15	&	&	CCONJ
issue-791	218	16	roque	roque	PROPN
issue-791	218	17	,	,	PUNCT
issue-791	218	18	l.	l.	PROPN
issue-791	218	19	(	(	PUNCT
issue-791	218	20	2019	2019	NUM
issue-791	218	21	)	)	PUNCT
issue-791	218	22	.	.	PUNCT
issue-791	218	23	 	 	SPACE
issue-791	219	1	corporate	corporate	ADJ
issue-791	219	2	tax	tax	NOUN
issue-791	219	3	avoidance	avoidance	NOUN
issue-791	219	4	remains	remain	VERB
issue-791	219	5	rampant	rampant	ADJ
issue-791	219	6	under	under	ADP
issue-791	219	7	new	new	ADJ
issue-791	219	8	tax	tax	NOUN
issue-791	219	9	law	law	NOUN
issue-791	219	10	.	.	PUNCT
issue-791	220	1	institute	institute	NOUN
issue-791	220	2	on	on	ADP
issue-791	220	3	taxation	taxation	NOUN
issue-791	220	4	and	and	CCONJ
issue-791	220	5	economic	economic	ADJ
issue-791	220	6	policy	policy	NOUN
issue-791	220	7	(	(	PUNCT
issue-791	220	8	itep	itep	NOUN
issue-791	220	9	)	)	PUNCT
issue-791	220	10	.	.	PUNCT
issue-791	221	1	retrieved	retrieve	VERB
issue-791	221	2	from	from	ADP
issue-791	221	3	:	:	PUNCT
issue-791	221	4	https://itep.org/wp-content/	https://itep.org/wp-content/	PROPN
issue-791	221	5	uploads/04119	uploads/04119	NOUN
issue-791	221	6	-	-	PUNCT
issue-791	221	7	corporate	corporate	ADJ
issue-791	221	8	-	-	PUNCT
issue-791	221	9	tax	tax	NOUN
issue-791	221	10	-	-	PUNCT
issue-791	221	11	avoidance	avoidance	NOUN
issue-791	221	12	-	-	PUNCT
issue-791	221	13	remains	remain	VERB
issue-791	221	14	-	-	PUNCT
issue-791	221	15	rampant	rampant	ADJ
issue-791	221	16	-	-	PUNCT
issue-791	221	17	under	under	ADP
issue-791	221	18	-	-	PUNCT
issue-791	221	19	new	new	ADJ
issue-791	221	20	-	-	PUNCT
issue-791	221	21	tax	tax	NOUN
issue-791	221	22	-	-	PUNCT
issue-791	221	23	law_itep.pdf	law_itep.pdf	NOUN
issue-791	221	24	oxfam	oxfam	NOUN
issue-791	221	25	deutschland	deutschland	NOUN
issue-791	222	1	e.v	e.v	PROPN
issue-791	222	2	.	.	PUNCT
issue-791	223	1	(	(	PUNCT
issue-791	223	2	2019	2019	NUM
issue-791	223	3	)	)	PUNCT
issue-791	223	4	.	.	PUNCT
issue-791	224	1	retrieved	retrieve	VERB
issue-791	224	2	from	from	ADP
issue-791	224	3	:	:	PUNCT
issue-791	224	4	https://www.oxfam.de/	https://www.oxfam.de/	X
issue-791	224	5	stiglitz	stiglitz	PROPN
issue-791	224	6	,	,	PUNCT
issue-791	224	7	j.	j.	PROPN
issue-791	224	8	e.	e.	PROPN
issue-791	224	9	,	,	PUNCT
issue-791	224	10	&	&	CCONJ
issue-791	224	11	pieth	pieth	PROPN
issue-791	224	12	,	,	PUNCT
issue-791	224	13	m.	m.	NOUN
issue-791	224	14	(	(	PUNCT
issue-791	224	15	2016	2016	NUM
issue-791	224	16	)	)	PUNCT
issue-791	224	17	.	.	PUNCT
issue-791	225	1	overcoming	overcome	VERB
issue-791	225	2	the	the	DET
issue-791	225	3	shadow	shadow	NOUN
issue-791	225	4	economy	economy	NOUN
issue-791	225	5	.	.	PUNCT
issue-791	226	1	series	series	NOUN
issue-791	226	2	:	:	PUNCT
issue-791	226	3	international	international	ADJ
issue-791	226	4	policy	policy	NOUN
issue-791	226	5	analysis	analysis	NOUN
issue-791	226	6	.	.	PUNCT
issue-791	227	1	published	publish	VERB
issue-791	227	2	by	by	ADP
issue-791	227	3	friedrich	friedrich	PROPN
issue-791	227	4	elbert	elbert	PROPN
issue-791	227	5	stiftung	stiftung	PROPN
issue-791	227	6	.	.	PUNCT
issue-791	228	1	schneider	schneider	PROPN
issue-791	228	2	,	,	PUNCT
issue-791	228	3	f.	f.	PROPN
issue-791	228	4	und	und	PROPN
issue-791	228	5	boockmann	boockmann	PROPN
issue-791	228	6	,	,	PUNCT
issue-791	228	7	b.	b.	PROPN
issue-791	228	8	(	(	PUNCT
issue-791	228	9	2018	2018	NUM
issue-791	228	10	)	)	PUNCT
issue-791	228	11	.	.	PUNCT
issue-791	229	1	die	die	VERB
issue-791	229	2	größe	größe	PROPN
issue-791	229	3	der	der	PROPN
issue-791	229	4	schattenwirtschaft	schattenwirtschaft	NOUN
issue-791	229	5	–	–	PUNCT
issue-791	229	6	methodik	methodik	X
issue-791	229	7	und	und	PROPN
issue-791	229	8	berechnungen	berechnungen	PROPN
issue-791	229	9	für	für	PROPN
issue-791	229	10	das	das	PROPN
issue-791	229	11	jahr	jahr	PROPN
issue-791	229	12	2018	2018	NUM
issue-791	229	13	.	.	PUNCT
issue-791	230	1	linz	linz	PROPN
issue-791	230	2	;	;	PUNCT
issue-791	230	3	tübingen	tübingen	PROPN
issue-791	230	4	.	.	PUNCT
issue-791	231	1	retrieved	retrieve	VERB
issue-791	231	2	from	from	ADP
issue-791	231	3	:	:	PUNCT
issue-791	231	4	http://www.iaw.edu/index.php/‐288/member/222	http://www.iaw.edu/index.php/‐288/member/222	NOUN
issue-791	231	5	putnins	putnin	NOUN
issue-791	231	6	,	,	PUNCT
issue-791	231	7	t.	t.	PROPN
issue-791	231	8	,	,	PUNCT
issue-791	231	9	&	&	CCONJ
issue-791	231	10	sauka	sauka	PROPN
issue-791	231	11	,	,	PUNCT
issue-791	231	12	a.	a.	NOUN
issue-791	231	13	(	(	PUNCT
issue-791	231	14	2015	2015	NUM
issue-791	231	15	)	)	PUNCT
issue-791	231	16	.	.	PUNCT
issue-791	232	1	measuring	measure	VERB
issue-791	232	2	the	the	DET
issue-791	232	3	shadow	shadow	NOUN
issue-791	232	4	economy	economy	NOUN
issue-791	232	5	using	use	VERB
issue-791	232	6	company	company	NOUN
issue-791	232	7	managers	manager	NOUN
issue-791	232	8	.	.	PUNCT
issue-791	233	1	journal	journal	NOUN
issue-791	233	2	of	of	ADP
issue-791	233	3	comparative	comparative	ADJ
issue-791	233	4	economics	economic	NOUN
issue-791	233	5	,	,	PUNCT
issue-791	233	6	vol	vol	NOUN
issue-791	233	7	.	.	PROPN
issue-791	233	8	43	43	NUM
issue-791	233	9	,	,	PUNCT
issue-791	233	10	issue	issue	NOUN
issue-791	233	11	2	2	NUM
issue-791	233	12	,	,	PUNCT
issue-791	233	13	pp	pp	ADJ
issue-791	233	14	.	.	PUNCT
issue-791	234	1	471–490	471–490	NUM
issue-791	234	2	.	.	PUNCT
issue-791	235	1	medina	medina	PROPN
issue-791	235	2	,	,	PUNCT
issue-791	235	3	l.	l.	PROPN
issue-791	235	4	,	,	PUNCT
issue-791	235	5	&	&	CCONJ
issue-791	235	6	schneider	schneider	PROPN
issue-791	235	7	,	,	PUNCT
issue-791	235	8	f.	f.	PROPN
issue-791	235	9	(	(	PUNCT
issue-791	235	10	2018	2018	NUM
issue-791	235	11	)	)	PUNCT
issue-791	235	12	.	.	PUNCT
issue-791	236	1	shadow	shadow	NOUN
issue-791	236	2	economies	economy	NOUN
issue-791	236	3	around	around	ADP
issue-791	236	4	the	the	DET
issue-791	236	5	world	world	NOUN
issue-791	236	6	:	:	PUNCT
issue-791	236	7	what	what	PRON
issue-791	236	8	did	do	AUX
issue-791	236	9	we	we	PRON
issue-791	236	10	learn	learn	VERB
issue-791	236	11	over	over	ADP
issue-791	236	12	the	the	DET
issue-791	236	13	last	last	ADJ
issue-791	236	14	20	20	NUM
issue-791	236	15	years	year	NOUN
issue-791	236	16	?	?	PUNCT
issue-791	237	1	imf	imf	PROPN
issue-791	237	2	working	working	PROPN
issue-791	237	3	paper	paper	NOUN
issue-791	237	4	,	,	PUNCT
issue-791	237	5	wp/18/17	wp/18/17	PROPN
issue-791	237	6	.	.	PUNCT
issue-791	238	1	retrieved	retrieve	VERB
issue-791	238	2	from	from	ADP
issue-791	238	3	:	:	PUNCT
issue-791	238	4	https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3124402	https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3124402	PROPN
issue-791	238	5	breusch	breusch	NOUN
issue-791	238	6	,	,	PUNCT
issue-791	238	7	t.	t.	PROPN
issue-791	238	8	(	(	PUNCT
issue-791	238	9	2005	2005	NUM
issue-791	238	10	)	)	PUNCT
issue-791	238	11	.	.	PUNCT
issue-791	239	1	estimating	estimate	VERB
issue-791	239	2	the	the	DET
issue-791	239	3	underground	underground	ADJ
issue-791	239	4	economy	economy	NOUN
issue-791	239	5	using	use	VERB
issue-791	239	6	mimic	mimic	ADJ
issue-791	239	7	models	model	NOUN
issue-791	239	8	.	.	PUNCT
issue-791	240	1	working	work	VERB
issue-791	240	2	paper	paper	NOUN
issue-791	240	3	2005	2005	NUM
issue-791	240	4	,	,	PUNCT
issue-791	240	5	canberra	canberra	PROPN
issue-791	240	6	,	,	PUNCT
issue-791	240	7	australia	australia	PROPN
issue-791	240	8	.	.	PUNCT
issue-791	241	1	retrieved	retrieve	VERB
issue-791	241	2	from	from	ADP
issue-791	241	3	:	:	PUNCT
issue-791	241	4	http://econwpa.wustl.edu/eps/em/papers/0507/0507003.pdf	http://econwpa.wustl.edu/eps/em/papers/0507/0507003.pdf	PROPN
issue-791	241	5	copeland	copeland	PROPN
issue-791	241	6	,	,	PUNCT
issue-791	241	7	t.	t.	PROPN
issue-791	241	8	,	,	PUNCT
issue-791	241	9	koller	koller	PROPN
issue-791	241	10	,	,	PUNCT
issue-791	241	11	t.	t.	PROPN
issue-791	241	12	and	and	CCONJ
issue-791	241	13	murrin	murrin	PROPN
issue-791	241	14	,	,	PUNCT
issue-791	241	15	j.	j.	PROPN
issue-791	241	16	(	(	PUNCT
issue-791	241	17	2000	2000	NUM
issue-791	241	18	)	)	PUNCT
issue-791	241	19	.	.	PUNCT
issue-791	242	1	valuation	valuation	NOUN
issue-791	242	2	–	–	PUNCT
issue-791	242	3	measuring	measure	VERB
issue-791	242	4	and	and	CCONJ
issue-791	242	5	managing	manage	VERB
issue-791	242	6	the	the	DET
issue-791	242	7	values	value	NOUN
issue-791	242	8	of	of	ADP
issue-791	242	9	companies	company	NOUN
issue-791	242	10	.	.	PUNCT
issue-791	243	1	john	john	PROPN
issue-791	243	2	wiley	wiley	PROPN
issue-791	243	3	sons	sons	PROPN
issue-791	243	4	,	,	PUNCT
issue-791	243	5	new	new	PROPN
issue-791	243	6	york	york	PROPN
issue-791	243	7	.	.	PUNCT
issue-791	244	1	tereshenko	tereshenko	PROPN
issue-791	244	2	,	,	PUNCT
issue-791	244	3	о	о	PROPN
issue-791	244	4	.	.	PROPN
issue-791	244	5	,	,	PUNCT
issue-791	244	6	voloshanyk	voloshanyk	NOUN
issue-791	244	7	,	,	PUNCT
issue-791	244	8	n.	n.	NOUN
issue-791	244	9	,	,	PUNCT
issue-791	244	10	&	&	CCONJ
issue-791	244	11	savchuk	savchuk	PROPN
issue-791	244	12	,	,	PUNCT
issue-791	244	13	d.	d.	PROPN
issue-791	244	14	(	(	PUNCT
issue-791	244	15	2019	2019	NUM
issue-791	244	16	)	)	PUNCT
issue-791	244	17	.	.	PUNCT
issue-791	245	1	rate	rate	NOUN
issue-791	245	2	of	of	ADP
issue-791	245	3	cost	cost	NOUN
issue-791	245	4	on	on	ADP
issue-791	245	5	investment	investment	NOUN
issue-791	245	6	capital	capital	NOUN
issue-791	245	7	in	in	ADP
issue-791	245	8	emerging	emerge	VERB
issue-791	245	9	markets	market	NOUN
issue-791	245	10	.	.	PUNCT
issue-791	246	1	sosiety	sosiety	NOUN
issue-791	246	2	,	,	PUNCT
issue-791	246	3	integration	integration	NOUN
issue-791	246	4	,	,	PUNCT
issue-791	246	5	education	education	NOUN
issue-791	246	6	.	.	PUNCT
issue-791	247	1	proceedings	proceeding	NOUN
issue-791	247	2	of	of	ADP
issue-791	247	3	the	the	DET
issue-791	247	4	international	international	ADJ
issue-791	247	5	scientific	scientific	ADJ
issue-791	247	6	conference	conference	NOUN
issue-791	247	7	.	.	PUNCT
issue-791	248	1	rezekne	rezekne	NOUN
issue-791	248	2	.	.	PUNCT
issue-791	249	1	volume	volume	NOUN
issue-791	249	2	6	6	NUM
issue-791	249	3	,	,	PUNCT
issue-791	249	4	pp	pp	ADJ
issue-791	249	5	.	.	PUNCT
issue-791	250	1	665–674	665–674	NUM
issue-791	250	2	.	.	PUNCT
issue-791	251	1	shadow	shadow	NOUN
issue-791	251	2	economy	economy	NOUN
issue-791	251	3	in	in	ADP
issue-791	251	4	ukraine	ukraine	PROPN
issue-791	251	5	.	.	PUNCT
issue-791	252	1	results	result	NOUN
issue-791	252	2	of	of	ADP
issue-791	252	3	researh	researh	NOUN
issue-791	252	4	of	of	ADP
issue-791	252	5	2019	2019	NUM
issue-791	252	6	in	in	ADP
issue-791	252	7	the	the	DET
issue-791	252	8	framework	framework	NOUN
issue-791	252	9	of	of	ADP
issue-791	252	10	the	the	DET
issue-791	252	11	project	project	NOUN
issue-791	252	12	shadow	shadow	NOUN
issue-791	252	13	h2020	h2020	NOUN
issue-791	252	14	.	.	PUNCT
issue-791	252	15	retrieved	retrieve	VERB
issue-791	252	16	from	from	ADP
issue-791	252	17	:	:	PUNCT
issue-791	252	18	http://kiis.com.ua/materials/pr/20191107_shadow/shadow_ua.pdf	http://kiis.com.ua/materials/pr/20191107_shadow/shadow_ua.pdf	PROPN
issue-791	252	19	combined	combine	VERB
issue-791	252	20	method	method	NOUN
issue-791	252	21	of	of	ADP
issue-791	252	22	e&y	e&y	PROPN
issue-791	252	23	,	,	PUNCT
issue-791	252	24	mastercard	mastercard	PROPN
issue-791	252	25	.	.	PUNCT
issue-791	253	1	research	research	NOUN
issue-791	253	2	of	of	ADP
issue-791	253	3	shadow	shadow	NOUN
issue-791	253	4	economy	economy	NOUN
issue-791	253	5	in	in	ADP
issue-791	253	6	ukraine	ukraine	NOUN
issue-791	253	7	.	.	PUNCT
issue-791	254	1	retrieved	retrieve	VERB
issue-791	254	2	from	from	ADP
issue-791	254	3	:	:	PUNCT
issue-791	254	4	https://bank.gov.ua/news	https://bank.gov.ua/news	PROPN
issue-791	254	5	tereshchenko	tereshchenko	ADJ
issue-791	254	6	,	,	PUNCT
issue-791	254	7	o.	o.	PROPN
issue-791	254	8	,	,	PUNCT
issue-791	254	9	&	&	CCONJ
issue-791	254	10	voloshanyuk	voloshanyuk	PROPN
issue-791	254	11	,	,	PUNCT
issue-791	254	12	n.	n.	NOUN
issue-791	254	13	(	(	PUNCT
issue-791	254	14	2017	2017	NUM
issue-791	254	15	)	)	PUNCT
issue-791	254	16	.	.	PUNCT
issue-791	255	1	capital	capital	NOUN
issue-791	255	2	implicit	implicit	ADJ
issue-791	255	3	expenses	expense	NOUN
issue-791	255	4	in	in	ADP
issue-791	255	5	the	the	DET
issue-791	255	6	shadow	shadow	NOUN
issue-791	255	7	economic	economic	ADJ
issue-791	255	8	revenue	revenue	NOUN
issue-791	255	9	.	.	PUNCT
issue-791	256	1	pnap	pnap	NOUN
issue-791	256	2	,	,	PUNCT
issue-791	256	3	no	no	DET
issue-791	256	4	6	6	NUM
issue-791	256	5	,	,	PUNCT
issue-791	256	6	pp	pp	ADJ
issue-791	256	7	.	.	PUNCT
issue-791	256	8	85–94	85–94	NUM
issue-791	256	9	.	.	PUNCT
issue-791	257	1	zbruch	zbruch	PROPN
issue-791	257	2	(	(	PUNCT
issue-791	257	3	2015	2015	NUM
issue-791	257	4	)	)	PUNCT
issue-791	257	5	.	.	PUNCT
issue-791	258	1	the	the	DET
issue-791	258	2	level	level	NOUN
issue-791	258	3	of	of	ADP
issue-791	258	4	the	the	DET
issue-791	258	5	shadow	shadow	NOUN
issue-791	258	6	economy	economy	NOUN
issue-791	258	7	has	have	AUX
issue-791	258	8	grown	grow	VERB
issue-791	258	9	to	to	ADP
issue-791	258	10	47	47	NUM
issue-791	258	11	%	%	NOUN
issue-791	258	12	.	.	PUNCT
issue-791	259	1	retrieved	retrieve	VERB
issue-791	259	2	from	from	ADP
issue-791	259	3	:	:	PUNCT
issue-791	259	4	https://zbruc.eu/	https://zbruc.eu/	PROPN
issue-791	259	5	node/40301?theme	node/40301?theme	NOUN
issue-791	259	6	=	=	SYM
issue-791	259	7	zbruc&page=211	zbruc&page=211	NOUN