id	sid	tid	token	lemma	pos
fueconorg-10857	1	1	10857	10857	NUM
fueconorg-10857	1	2	facta	facta	PROPN
fueconorg-10857	1	3	universitatis	universitatis	PROPN
fueconorg-10857	1	4	series	series	NOUN
fueconorg-10857	1	5	:	:	PUNCT
fueconorg-10857	1	6	economics	economic	NOUN
fueconorg-10857	1	7	and	and	CCONJ
fueconorg-10857	1	8	organization	organization	NOUN
fueconorg-10857	1	9	vol	vol	NOUN
fueconorg-10857	1	10	.	.	PROPN
fueconorg-10857	1	11	19	19	NUM
fueconorg-10857	1	12	,	,	PUNCT
fueconorg-10857	1	13	no	no	DET
fueconorg-10857	1	14	3	3	NUM
fueconorg-10857	1	15	,	,	PUNCT
fueconorg-10857	1	16	2022	2022	NUM
fueconorg-10857	1	17	,	,	PUNCT
fueconorg-10857	1	18	pp	pp	ADJ
fueconorg-10857	1	19	.	.	PUNCT
fueconorg-10857	2	1	183	183	NUM
fueconorg-10857	2	2	197	197	NUM
fueconorg-10857	2	3	https://doi.org/10.22190/fueo220614014d	https://doi.org/10.22190/fueo220614014d	NOUN
fueconorg-10857	2	4	©	©	PROPN
fueconorg-10857	2	5	2022	2022	NUM
fueconorg-10857	2	6	by	by	ADP
fueconorg-10857	2	7	university	university	PROPN
fueconorg-10857	2	8	of	of	ADP
fueconorg-10857	2	9	niš	niš	PROPN
fueconorg-10857	2	10	,	,	PUNCT
fueconorg-10857	2	11	serbia	serbia	PROPN
fueconorg-10857	2	12	|	|	ADV
fueconorg-10857	2	13	creative	creative	ADJ
fueconorg-10857	2	14	commons	common	NOUN
fueconorg-10857	2	15	licence	licence	NOUN
fueconorg-10857	2	16	:	:	PUNCT
fueconorg-10857	2	17	cc	cc	VERB
fueconorg-10857	2	18	by	by	ADP
fueconorg-10857	2	19	-	-	PUNCT
fueconorg-10857	2	20	nc	nc	VERB
fueconorg-10857	2	21	-	-	PUNCT
fueconorg-10857	2	22	nd	nd	ADV
fueconorg-10857	2	23	original	original	ADJ
fueconorg-10857	2	24	scientific	scientific	ADJ
fueconorg-10857	2	25	paper	paper	NOUN
fueconorg-10857	2	26	testing	test	VERB
fueconorg-10857	2	27	the	the	DET
fueconorg-10857	2	28	applicability	applicability	NOUN
fueconorg-10857	2	29	of	of	ADP
fueconorg-10857	2	30	the	the	DET
fueconorg-10857	2	31	capm	capm	PROPN
fueconorg-10857	2	32	model	model	NOUN
fueconorg-10857	2	33	using	use	VERB
fueconorg-10857	2	34	selected	select	VERB
fueconorg-10857	2	35	shares	share	NOUN
fueconorg-10857	2	36	listed	list	VERB
fueconorg-10857	2	37	on	on	ADP
fueconorg-10857	2	38	the	the	DET
fueconorg-10857	2	39	belgrade	belgrade	PROPN
fueconorg-10857	2	40	stock	stock	PROPN
fueconorg-10857	2	41	exchange1	exchange1	PROPN
fueconorg-10857	2	42	udc	udc	NOUN
fueconorg-10857	2	43	336.76(497.11	336.76(497.11	NUM
fueconorg-10857	2	44	)	)	PUNCT
fueconorg-10857	2	45	miloš	miloš	NOUN
fueconorg-10857	2	46	đaković	đaković	NOUN
fueconorg-10857	2	47	,	,	PUNCT
fueconorg-10857	2	48	jelena	jelena	PROPN
fueconorg-10857	2	49	andrašić	andrašić	PROPN
fueconorg-10857	2	50	,	,	PUNCT
fueconorg-10857	2	51	danica	danica	PROPN
fueconorg-10857	2	52	cicmil	cicmil	PROPN
fueconorg-10857	2	53	the	the	DET
fueconorg-10857	2	54	university	university	PROPN
fueconorg-10857	2	55	of	of	ADP
fueconorg-10857	2	56	novi	novi	PROPN
fueconorg-10857	2	57	sad	sad	PROPN
fueconorg-10857	2	58	,	,	PUNCT
fueconorg-10857	2	59	faculty	faculty	NOUN
fueconorg-10857	2	60	of	of	ADP
fueconorg-10857	2	61	economics	economic	NOUN
fueconorg-10857	2	62	in	in	ADP
fueconorg-10857	2	63	subotica	subotica	PROPN
fueconorg-10857	2	64	,	,	PUNCT
fueconorg-10857	2	65	serbia	serbia	PROPN
fueconorg-10857	2	66	orcid	orcid	PROPN
fueconorg-10857	3	1	i	i	PRON
fueconorg-10857	3	2	d	d	PROPN
fueconorg-10857	3	3	:	:	PUNCT
fueconorg-10857	3	4	miloš	miloš	NOUN
fueconorg-10857	3	5	đaković	đaković	NOUN
fueconorg-10857	3	6	https://orcid.org/0000-0003-0167-4026	https://orcid.org/0000-0003-0167-4026	VERB
fueconorg-10857	3	7	jelena	jelena	PROPN
fueconorg-10857	4	1	andrašić	andrašić	PROPN
fueconorg-10857	4	2	https://orcid.org/0000-0003-3941-1184	https://orcid.org/0000-0003-3941-1184	PROPN
fueconorg-10857	4	3	danica	danica	PROPN
fueconorg-10857	4	4	cicmil	cicmil	PROPN
fueconorg-10857	4	5	https://orcid.org/0000-0001-6373-5264	https://orcid.org/0000-0001-6373-5264	PROPN
fueconorg-10857	4	6	abstract	abstract	ADJ
fueconorg-10857	4	7	.	.	PUNCT
fueconorg-10857	5	1	one	one	NUM
fueconorg-10857	5	2	of	of	ADP
fueconorg-10857	5	3	the	the	DET
fueconorg-10857	5	4	basic	basic	ADJ
fueconorg-10857	5	5	types	type	NOUN
fueconorg-10857	5	6	of	of	ADP
fueconorg-10857	5	7	portfolio	portfolio	NOUN
fueconorg-10857	5	8	valuation	valuation	NOUN
fueconorg-10857	5	9	as	as	ADV
fueconorg-10857	5	10	well	well	ADV
fueconorg-10857	5	11	as	as	ADP
fueconorg-10857	5	12	valuation	valuation	NOUN
fueconorg-10857	5	13	of	of	ADP
fueconorg-10857	5	14	individual	individual	ADJ
fueconorg-10857	5	15	company	company	NOUN
fueconorg-10857	5	16	shares	share	NOUN
fueconorg-10857	5	17	is	be	AUX
fueconorg-10857	5	18	the	the	DET
fueconorg-10857	5	19	capm	capm	PROPN
fueconorg-10857	5	20	(	(	PUNCT
fueconorg-10857	5	21	capital	capital	NOUN
fueconorg-10857	5	22	asset	asset	NOUN
fueconorg-10857	5	23	pricing	pricing	NOUN
fueconorg-10857	5	24	)	)	PUNCT
fueconorg-10857	5	25	model	model	NOUN
fueconorg-10857	5	26	,	,	PUNCT
fueconorg-10857	5	27	which	which	PRON
fueconorg-10857	5	28	uses	use	VERB
fueconorg-10857	5	29	a	a	DET
fueconorg-10857	5	30	well	well	ADV
fueconorg-10857	5	31	-	-	PUNCT
fueconorg-10857	5	32	known	know	VERB
fueconorg-10857	5	33	measure	measure	NOUN
fueconorg-10857	5	34	of	of	ADP
fueconorg-10857	5	35	systemic	systemic	ADJ
fueconorg-10857	5	36	risk	risk	NOUN
fueconorg-10857	5	37	in	in	ADP
fueconorg-10857	5	38	its	its	PRON
fueconorg-10857	5	39	analysis	analysis	NOUN
fueconorg-10857	5	40	,	,	PUNCT
fueconorg-10857	5	41	which	which	PRON
fueconorg-10857	5	42	is	be	AUX
fueconorg-10857	5	43	beta	beta	ADJ
fueconorg-10857	5	44	.	.	PUNCT
fueconorg-10857	6	1	the	the	DET
fueconorg-10857	6	2	capm	capm	PROPN
fueconorg-10857	6	3	model	model	NOUN
fueconorg-10857	6	4	in	in	ADP
fueconorg-10857	6	5	its	its	PRON
fueconorg-10857	6	6	analysis	analysis	NOUN
fueconorg-10857	6	7	uses	use	VERB
fueconorg-10857	6	8	the	the	DET
fueconorg-10857	6	9	link	link	NOUN
fueconorg-10857	6	10	between	between	ADP
fueconorg-10857	6	11	the	the	DET
fueconorg-10857	6	12	systemic	systemic	ADJ
fueconorg-10857	6	13	risk	risk	NOUN
fueconorg-10857	6	14	measure	measure	NOUN
fueconorg-10857	6	15	(	(	PUNCT
fueconorg-10857	6	16	beta	beta	NOUN
fueconorg-10857	6	17	)	)	PUNCT
fueconorg-10857	6	18	and	and	CCONJ
fueconorg-10857	6	19	the	the	DET
fueconorg-10857	6	20	expected	expect	VERB
fueconorg-10857	6	21	market	market	NOUN
fueconorg-10857	6	22	return	return	NOUN
fueconorg-10857	6	23	.	.	PUNCT
fueconorg-10857	7	1	guided	guide	VERB
fueconorg-10857	7	2	by	by	ADP
fueconorg-10857	7	3	this	this	DET
fueconorg-10857	7	4	model	model	NOUN
fueconorg-10857	7	5	,	,	PUNCT
fueconorg-10857	7	6	the	the	DET
fueconorg-10857	7	7	analysis	analysis	NOUN
fueconorg-10857	7	8	of	of	ADP
fueconorg-10857	7	9	monthly	monthly	ADJ
fueconorg-10857	7	10	returns	return	NOUN
fueconorg-10857	7	11	of	of	ADP
fueconorg-10857	7	12	selected	select	VERB
fueconorg-10857	7	13	shares	share	NOUN
fueconorg-10857	7	14	on	on	ADP
fueconorg-10857	7	15	the	the	DET
fueconorg-10857	7	16	belgrade	belgrade	PROPN
fueconorg-10857	7	17	stock	stock	PROPN
fueconorg-10857	7	18	exchange	exchange	PROPN
fueconorg-10857	7	19	in	in	ADP
fueconorg-10857	7	20	the	the	DET
fueconorg-10857	7	21	period	period	NOUN
fueconorg-10857	7	22	from	from	ADP
fueconorg-10857	7	23	2011	2011	NUM
fueconorg-10857	7	24	to	to	ADP
fueconorg-10857	7	25	2021	2021	NUM
fueconorg-10857	7	26	was	be	AUX
fueconorg-10857	7	27	performed	perform	VERB
fueconorg-10857	7	28	in	in	ADP
fueconorg-10857	7	29	this	this	DET
fueconorg-10857	7	30	research	research	NOUN
fueconorg-10857	7	31	.	.	PUNCT
fueconorg-10857	8	1	in	in	ADP
fueconorg-10857	8	2	the	the	DET
fueconorg-10857	8	3	research	research	NOUN
fueconorg-10857	8	4	,	,	PUNCT
fueconorg-10857	8	5	the	the	DET
fueconorg-10857	8	6	beta	beta	ADJ
fueconorg-10857	8	7	coefficient	coefficient	NOUN
fueconorg-10857	8	8	of	of	ADP
fueconorg-10857	8	9	selected	select	VERB
fueconorg-10857	8	10	shares	share	NOUN
fueconorg-10857	8	11	was	be	AUX
fueconorg-10857	8	12	calculated	calculate	VERB
fueconorg-10857	8	13	with	with	ADP
fueconorg-10857	8	14	the	the	DET
fueconorg-10857	8	15	help	help	NOUN
fueconorg-10857	8	16	of	of	ADP
fueconorg-10857	8	17	the	the	DET
fueconorg-10857	8	18	covariance	covariance	NOUN
fueconorg-10857	8	19	of	of	ADP
fueconorg-10857	8	20	market	market	NOUN
fueconorg-10857	8	21	return	return	NOUN
fueconorg-10857	8	22	and	and	CCONJ
fueconorg-10857	8	23	stock	stock	NOUN
fueconorg-10857	8	24	return	return	NOUN
fueconorg-10857	8	25	.	.	PUNCT
fueconorg-10857	9	1	the	the	DET
fueconorg-10857	9	2	results	result	NOUN
fueconorg-10857	9	3	and	and	CCONJ
fueconorg-10857	9	4	their	their	PRON
fueconorg-10857	9	5	statistical	statistical	ADJ
fueconorg-10857	9	6	value	value	NOUN
fueconorg-10857	9	7	were	be	AUX
fueconorg-10857	9	8	confirmed	confirm	VERB
fueconorg-10857	9	9	by	by	ADP
fueconorg-10857	9	10	the	the	DET
fueconorg-10857	9	11	linear	linear	PROPN
fueconorg-10857	9	12	regression	regression	NOUN
fueconorg-10857	9	13	test	test	NOUN
fueconorg-10857	9	14	.	.	PUNCT
fueconorg-10857	10	1	the	the	DET
fueconorg-10857	10	2	rest	rest	NOUN
fueconorg-10857	10	3	of	of	ADP
fueconorg-10857	10	4	the	the	DET
fueconorg-10857	10	5	research	research	NOUN
fueconorg-10857	10	6	tests	test	VERB
fueconorg-10857	10	7	the	the	DET
fueconorg-10857	10	8	applicability	applicability	NOUN
fueconorg-10857	10	9	of	of	ADP
fueconorg-10857	10	10	the	the	DET
fueconorg-10857	10	11	capm	capm	PROPN
fueconorg-10857	10	12	model	model	NOUN
fueconorg-10857	10	13	to	to	ADP
fueconorg-10857	10	14	selected	select	VERB
fueconorg-10857	10	15	actions	action	NOUN
fueconorg-10857	10	16	and	and	CCONJ
fueconorg-10857	10	17	in	in	ADP
fueconorg-10857	10	18	the	the	DET
fueconorg-10857	10	19	same	same	ADJ
fueconorg-10857	10	20	way	way	NOUN
fueconorg-10857	10	21	,	,	PUNCT
fueconorg-10857	10	22	the	the	DET
fueconorg-10857	10	23	sml	sml	PROPN
fueconorg-10857	10	24	(	(	PUNCT
fueconorg-10857	10	25	security	security	NOUN
fueconorg-10857	10	26	market	market	NOUN
fueconorg-10857	10	27	line	line	NOUN
fueconorg-10857	10	28	)	)	PUNCT
fueconorg-10857	10	29	is	be	AUX
fueconorg-10857	10	30	devised	devise	VERB
fueconorg-10857	10	31	,	,	PUNCT
fueconorg-10857	10	32	which	which	PRON
fueconorg-10857	10	33	is	be	AUX
fueconorg-10857	10	34	a	a	DET
fueconorg-10857	10	35	graphical	graphical	ADJ
fueconorg-10857	10	36	representation	representation	NOUN
fueconorg-10857	10	37	of	of	ADP
fueconorg-10857	10	38	the	the	DET
fueconorg-10857	10	39	model	model	NOUN
fueconorg-10857	10	40	.	.	PUNCT
fueconorg-10857	11	1	the	the	DET
fueconorg-10857	11	2	research	research	NOUN
fueconorg-10857	11	3	indicated	indicate	VERB
fueconorg-10857	11	4	that	that	SCONJ
fueconorg-10857	11	5	the	the	DET
fueconorg-10857	11	6	basic	basic	ADJ
fueconorg-10857	11	7	assumptions	assumption	NOUN
fueconorg-10857	11	8	of	of	ADP
fueconorg-10857	11	9	the	the	DET
fueconorg-10857	11	10	capm	capm	PROPN
fueconorg-10857	11	11	model	model	NOUN
fueconorg-10857	11	12	are	be	AUX
fueconorg-10857	11	13	not	not	PART
fueconorg-10857	11	14	applicable	applicable	ADJ
fueconorg-10857	11	15	as	as	ADP
fueconorg-10857	11	16	a	a	DET
fueconorg-10857	11	17	predictor	predictor	NOUN
fueconorg-10857	11	18	of	of	ADP
fueconorg-10857	11	19	future	future	ADJ
fueconorg-10857	11	20	expected	expect	VERB
fueconorg-10857	11	21	returns	return	NOUN
fueconorg-10857	11	22	of	of	ADP
fueconorg-10857	11	23	selected	select	VERB
fueconorg-10857	11	24	shares	share	NOUN
fueconorg-10857	11	25	on	on	ADP
fueconorg-10857	11	26	the	the	DET
fueconorg-10857	11	27	belgrade	belgrade	PROPN
fueconorg-10857	11	28	stock	stock	PROPN
fueconorg-10857	11	29	exchange	exchange	PROPN
fueconorg-10857	11	30	due	due	ADP
fueconorg-10857	11	31	to	to	ADP
fueconorg-10857	11	32	various	various	ADJ
fueconorg-10857	11	33	other	other	ADJ
fueconorg-10857	11	34	elements	element	NOUN
fueconorg-10857	11	35	that	that	PRON
fueconorg-10857	11	36	affect	affect	VERB
fueconorg-10857	11	37	price	price	NOUN
fueconorg-10857	11	38	movements	movement	NOUN
fueconorg-10857	11	39	and	and	CCONJ
fueconorg-10857	11	40	returns	return	NOUN
fueconorg-10857	11	41	of	of	ADP
fueconorg-10857	11	42	selected	select	VERB
fueconorg-10857	11	43	shares	share	NOUN
fueconorg-10857	11	44	not	not	PART
fueconorg-10857	11	45	covered	cover	VERB
fueconorg-10857	11	46	by	by	ADP
fueconorg-10857	11	47	the	the	DET
fueconorg-10857	11	48	model	model	NOUN
fueconorg-10857	11	49	.	.	PUNCT
fueconorg-10857	12	1	keywords	keyword	NOUN
fueconorg-10857	12	2	:	:	PUNCT
fueconorg-10857	12	3	capm	capm	PROPN
fueconorg-10857	12	4	model	model	NOUN
fueconorg-10857	12	5	,	,	PUNCT
fueconorg-10857	12	6	beta	beta	ADJ
fueconorg-10857	12	7	coefficient	coefficient	NOUN
fueconorg-10857	12	8	,	,	PUNCT
fueconorg-10857	12	9	belgrade	belgrade	ADJ
fueconorg-10857	12	10	stock	stock	PROPN
fueconorg-10857	12	11	exchange	exchange	PROPN
fueconorg-10857	12	12	,	,	PUNCT
fueconorg-10857	12	13	belexline	belexline	NOUN
fueconorg-10857	12	14	jel	jel	PROPN
fueconorg-10857	12	15	classification	classification	PROPN
fueconorg-10857	12	16	:	:	PUNCT
fueconorg-10857	12	17	g17	g17	PROPN
fueconorg-10857	12	18	,	,	PUNCT
fueconorg-10857	12	19	g12	g12	PROPN
fueconorg-10857	12	20	received	receive	VERB
fueconorg-10857	12	21	june	june	PROPN
fueconorg-10857	12	22	14	14	NUM
fueconorg-10857	12	23	,	,	PUNCT
fueconorg-10857	12	24	2022	2022	NUM
fueconorg-10857	12	25	/	/	SYM
fueconorg-10857	12	26	revised	revise	VERB
fueconorg-10857	12	27	september	september	PROPN
fueconorg-10857	12	28	11	11	NUM
fueconorg-10857	12	29	,	,	PUNCT
fueconorg-10857	12	30	2022	2022	NUM
fueconorg-10857	12	31	/	/	SYM
fueconorg-10857	12	32	accepted	accept	VERB
fueconorg-10857	12	33	september	september	PROPN
fueconorg-10857	12	34	16	16	NUM
fueconorg-10857	12	35	,	,	PUNCT
fueconorg-10857	12	36	2022	2022	NUM
fueconorg-10857	12	37	corresponding	correspond	VERB
fueconorg-10857	12	38	author	author	NOUN
fueconorg-10857	12	39	:	:	PUNCT
fueconorg-10857	12	40	miloš	miloš	PROPN
fueconorg-10857	12	41	đaković	đaković	NOUN
fueconorg-10857	12	42	university	university	PROPN
fueconorg-10857	12	43	of	of	ADP
fueconorg-10857	12	44	novi	novi	PROPN
fueconorg-10857	12	45	sad	sad	PROPN
fueconorg-10857	12	46	,	,	PUNCT
fueconorg-10857	12	47	faculty	faculty	NOUN
fueconorg-10857	12	48	of	of	ADP
fueconorg-10857	12	49	economics	economic	NOUN
fueconorg-10857	12	50	in	in	ADP
fueconorg-10857	12	51	subotica	subotica	PROPN
fueconorg-10857	12	52	,	,	PUNCT
fueconorg-10857	12	53	segedinski	segedinski	NOUN
fueconorg-10857	12	54	put	put	VERB
fueconorg-10857	12	55	9	9	NUM
fueconorg-10857	12	56	-	-	SYM
fueconorg-10857	12	57	11	11	NUM
fueconorg-10857	12	58	,	,	PUNCT
fueconorg-10857	12	59	24000	24000	NUM
fueconorg-10857	12	60	subotica	subotica	NOUN
fueconorg-10857	12	61	,	,	PUNCT
fueconorg-10857	12	62	republic	republic	NOUN
fueconorg-10857	12	63	of	of	ADP
fueconorg-10857	12	64	serbia	serbia	PROPN
fueconorg-10857	12	65	|	|	ADV
fueconorg-10857	12	66	e	e	NOUN
fueconorg-10857	12	67	-	-	NOUN
fueconorg-10857	12	68	mail	mail	NOUN
fueconorg-10857	12	69	:	:	PUNCT
fueconorg-10857	12	70	milos.djakovic@ef.uns.ac.rs	milos.djakovic@ef.uns.ac.rs	PUNCT
fueconorg-10857	12	71	https://orcid.org/0000-0003-0167-4026	https://orcid.org/0000-0003-0167-4026	VERB
fueconorg-10857	12	72	https://orcid.org/0000-0003-3941-1184	https://orcid.org/0000-0003-3941-1184	PROPN
fueconorg-10857	12	73	https://orcid.org/0000-0001-6373-5264	https://orcid.org/0000-0001-6373-5264	PROPN
fueconorg-10857	12	74	mailto:milos.djakovic@ef.uns.ac.rs	mailto:milos.djakovic@ef.uns.ac.rs	ADJ
fueconorg-10857	12	75	184	184	NUM
fueconorg-10857	12	76	m.	m.	NOUN
fueconorg-10857	12	77	đaković	đaković	NOUN
fueconorg-10857	12	78	,	,	PUNCT
fueconorg-10857	12	79	j.	j.	PROPN
fueconorg-10857	12	80	andrašić	andrašić	PROPN
fueconorg-10857	12	81	,	,	PUNCT
fueconorg-10857	12	82	d.	d.	PROPN
fueconorg-10857	12	83	cicmil	cicmil	PROPN
fueconorg-10857	12	84	1	1	NUM
fueconorg-10857	12	85	.	.	PUNCT
fueconorg-10857	13	1	introduction	introduction	NOUN
fueconorg-10857	13	2	the	the	DET
fueconorg-10857	13	3	capital	capital	NOUN
fueconorg-10857	13	4	asset	asset	NOUN
fueconorg-10857	13	5	pricing	pricing	NOUN
fueconorg-10857	13	6	model	model	NOUN
fueconorg-10857	13	7	makes	make	VERB
fueconorg-10857	13	8	a	a	DET
fueconorg-10857	13	9	significant	significant	ADJ
fueconorg-10857	13	10	contribution	contribution	NOUN
fueconorg-10857	13	11	to	to	ADP
fueconorg-10857	13	12	our	our	PRON
fueconorg-10857	13	13	understanding	understanding	NOUN
fueconorg-10857	13	14	of	of	ADP
fueconorg-10857	13	15	asset	asset	NOUN
fueconorg-10857	13	16	price	price	NOUN
fueconorg-10857	13	17	determinants	determinant	NOUN
fueconorg-10857	13	18	.	.	PUNCT
fueconorg-10857	14	1	according	accord	VERB
fueconorg-10857	14	2	to	to	ADP
fueconorg-10857	14	3	the	the	DET
fueconorg-10857	14	4	capm	capm	PROPN
fueconorg-10857	14	5	,	,	PUNCT
fueconorg-10857	14	6	diversified	diversify	VERB
fueconorg-10857	14	7	investors	investor	NOUN
fueconorg-10857	14	8	'	'	PART
fueconorg-10857	14	9	ownership	ownership	NOUN
fueconorg-10857	14	10	of	of	ADP
fueconorg-10857	14	11	assets	asset	NOUN
fueconorg-10857	14	12	lowers	lower	VERB
fueconorg-10857	14	13	expected	expect	VERB
fueconorg-10857	14	14	returns	return	NOUN
fueconorg-10857	14	15	and	and	CCONJ
fueconorg-10857	14	16	raises	raise	VERB
fueconorg-10857	14	17	prices	price	NOUN
fueconorg-10857	14	18	.	.	PUNCT
fueconorg-10857	15	1	furthermore	furthermore	ADV
fueconorg-10857	15	2	,	,	PUNCT
fueconorg-10857	15	3	investors	investor	NOUN
fueconorg-10857	15	4	with	with	ADP
fueconorg-10857	15	5	undiversified	undiversified	ADJ
fueconorg-10857	15	6	portfolios	portfolio	NOUN
fueconorg-10857	15	7	are	be	AUX
fueconorg-10857	15	8	more	more	ADV
fueconorg-10857	15	9	inclined	inclined	ADJ
fueconorg-10857	15	10	to	to	PART
fueconorg-10857	15	11	take	take	VERB
fueconorg-10857	15	12	risks	risk	NOUN
fueconorg-10857	15	13	for	for	ADP
fueconorg-10857	15	14	which	which	PRON
fueconorg-10857	15	15	they	they	PRON
fueconorg-10857	15	16	will	will	AUX
fueconorg-10857	15	17	not	not	PART
fueconorg-10857	15	18	be	be	AUX
fueconorg-10857	15	19	compensated	compensate	VERB
fueconorg-10857	15	20	(	(	PUNCT
fueconorg-10857	15	21	perold	perold	NOUN
fueconorg-10857	15	22	,	,	PUNCT
fueconorg-10857	15	23	2004	2004	NUM
fueconorg-10857	15	24	,	,	PUNCT
fueconorg-10857	15	25	p	p	NOUN
fueconorg-10857	15	26	3	3	NUM
fueconorg-10857	15	27	-	-	SYM
fueconorg-10857	15	28	24	24	NUM
fueconorg-10857	15	29	)	)	PUNCT
fueconorg-10857	15	30	.	.	PUNCT
fueconorg-10857	16	1	the	the	DET
fueconorg-10857	16	2	capm	capm	PROPN
fueconorg-10857	16	3	's	's	PART
fueconorg-10857	16	4	attractiveness	attractiveness	NOUN
fueconorg-10857	16	5	stems	stem	VERB
fueconorg-10857	16	6	from	from	ADP
fueconorg-10857	16	7	its	its	PRON
fueconorg-10857	16	8	ability	ability	NOUN
fueconorg-10857	16	9	to	to	PART
fueconorg-10857	16	10	make	make	VERB
fueconorg-10857	16	11	powerful	powerful	ADJ
fueconorg-10857	16	12	and	and	CCONJ
fueconorg-10857	16	13	appealing	appealing	ADJ
fueconorg-10857	16	14	predictions	prediction	NOUN
fueconorg-10857	16	15	about	about	ADP
fueconorg-10857	16	16	how	how	SCONJ
fueconorg-10857	16	17	to	to	PART
fueconorg-10857	16	18	evaluate	evaluate	VERB
fueconorg-10857	16	19	risk	risk	NOUN
fueconorg-10857	16	20	and	and	CCONJ
fueconorg-10857	16	21	the	the	DET
fueconorg-10857	16	22	connection	connection	NOUN
fueconorg-10857	16	23	between	between	ADP
fueconorg-10857	16	24	expected	expect	VERB
fueconorg-10857	16	25	returns	return	NOUN
fueconorg-10857	16	26	and	and	CCONJ
fueconorg-10857	16	27	risk	risk	NOUN
fueconorg-10857	16	28	.	.	PUNCT
fueconorg-10857	17	1	the	the	DET
fueconorg-10857	17	2	model	model	NOUN
fueconorg-10857	17	3	is	be	AUX
fueconorg-10857	17	4	a	a	DET
fueconorg-10857	17	5	simplified	simplified	ADJ
fueconorg-10857	17	6	representation	representation	NOUN
fueconorg-10857	17	7	of	of	ADP
fueconorg-10857	17	8	how	how	SCONJ
fueconorg-10857	17	9	financial	financial	ADJ
fueconorg-10857	17	10	markets	market	NOUN
fueconorg-10857	17	11	determine	determine	VERB
fueconorg-10857	17	12	prices	price	NOUN
fueconorg-10857	17	13	of	of	ADP
fueconorg-10857	17	14	securities	security	NOUN
fueconorg-10857	17	15	and	and	CCONJ
fueconorg-10857	17	16	,	,	PUNCT
fueconorg-10857	17	17	as	as	ADP
fueconorg-10857	17	18	a	a	DET
fueconorg-10857	17	19	result	result	NOUN
fueconorg-10857	17	20	,	,	PUNCT
fueconorg-10857	17	21	also	also	ADV
fueconorg-10857	17	22	determine	determine	VERB
fueconorg-10857	17	23	predicted	predict	VERB
fueconorg-10857	17	24	capital	capital	NOUN
fueconorg-10857	17	25	investment	investment	NOUN
fueconorg-10857	17	26	returns	return	NOUN
fueconorg-10857	17	27	.	.	PUNCT
fueconorg-10857	18	1	the	the	DET
fueconorg-10857	18	2	capm	capm	PROPN
fueconorg-10857	18	3	model	model	NOUN
fueconorg-10857	18	4	is	be	AUX
fueconorg-10857	18	5	a	a	DET
fueconorg-10857	18	6	mechanism	mechanism	NOUN
fueconorg-10857	18	7	used	use	VERB
fueconorg-10857	18	8	to	to	PART
fueconorg-10857	18	9	evaluate	evaluate	VERB
fueconorg-10857	18	10	risk	risk	NOUN
fueconorg-10857	18	11	and	and	CCONJ
fueconorg-10857	18	12	convert	convert	VERB
fueconorg-10857	18	13	it	it	PRON
fueconorg-10857	18	14	into	into	ADP
fueconorg-10857	18	15	expected	expect	VERB
fueconorg-10857	18	16	return	return	NOUN
fueconorg-10857	18	17	on	on	ADP
fueconorg-10857	18	18	equity	equity	NOUN
fueconorg-10857	18	19	projections	projection	NOUN
fueconorg-10857	18	20	(	(	PUNCT
fueconorg-10857	18	21	roe	roe	NOUN
fueconorg-10857	18	22	)	)	PUNCT
fueconorg-10857	18	23	.	.	PUNCT
fueconorg-10857	19	1	the	the	DET
fueconorg-10857	19	2	main	main	ADJ
fueconorg-10857	19	3	benefit	benefit	NOUN
fueconorg-10857	19	4	of	of	ADP
fueconorg-10857	19	5	the	the	DET
fueconorg-10857	19	6	capital	capital	NOUN
fueconorg-10857	19	7	asset	asset	NOUN
fueconorg-10857	19	8	pricing	pricing	NOUN
fueconorg-10857	19	9	model	model	NOUN
fueconorg-10857	19	10	is	be	AUX
fueconorg-10857	19	11	the	the	DET
fueconorg-10857	19	12	objectivity	objectivity	NOUN
fueconorg-10857	19	13	of	of	ADP
fueconorg-10857	19	14	the	the	DET
fueconorg-10857	19	15	predicted	predict	VERB
fueconorg-10857	19	16	costs	cost	NOUN
fueconorg-10857	19	17	of	of	ADP
fueconorg-10857	19	18	equity	equity	NOUN
fueconorg-10857	19	19	that	that	PRON
fueconorg-10857	19	20	the	the	DET
fueconorg-10857	19	21	model	model	NOUN
fueconorg-10857	19	22	may	may	AUX
fueconorg-10857	19	23	produce	produce	VERB
fueconorg-10857	19	24	.	.	PUNCT
fueconorg-10857	20	1	to	to	PART
fueconorg-10857	20	2	generate	generate	VERB
fueconorg-10857	20	3	an	an	DET
fueconorg-10857	20	4	accurate	accurate	ADJ
fueconorg-10857	20	5	and	and	CCONJ
fueconorg-10857	20	6	meaningful	meaningful	ADJ
fueconorg-10857	20	7	cost	cost	NOUN
fueconorg-10857	20	8	of	of	ADP
fueconorg-10857	20	9	equity	equity	NOUN
fueconorg-10857	20	10	calculations	calculation	NOUN
fueconorg-10857	20	11	,	,	PUNCT
fueconorg-10857	20	12	financial	financial	ADJ
fueconorg-10857	20	13	managers	manager	NOUN
fueconorg-10857	20	14	might	might	AUX
fueconorg-10857	20	15	utilize	utilize	VERB
fueconorg-10857	20	16	it	it	PRON
fueconorg-10857	20	17	to	to	PART
fueconorg-10857	20	18	enhance	enhance	VERB
fueconorg-10857	20	19	other	other	ADJ
fueconorg-10857	20	20	methodologies	methodology	NOUN
fueconorg-10857	20	21	and	and	CCONJ
fueconorg-10857	20	22	their	their	PRON
fueconorg-10857	20	23	judgment	judgment	NOUN
fueconorg-10857	20	24	(	(	PUNCT
fueconorg-10857	20	25	rossi	rossi	ADJ
fueconorg-10857	20	26	,	,	PUNCT
fueconorg-10857	20	27	2015	2015	NUM
fueconorg-10857	20	28	,	,	PUNCT
fueconorg-10857	20	29	p.	p.	NOUN
fueconorg-10857	20	30	604	604	NUM
fueconorg-10857	20	31	-	-	SYM
fueconorg-10857	20	32	617	617	NUM
fueconorg-10857	20	33	)	)	PUNCT
fueconorg-10857	20	34	.	.	PUNCT
fueconorg-10857	21	1	the	the	DET
fueconorg-10857	21	2	capital	capital	NOUN
fueconorg-10857	21	3	asset	asset	NOUN
fueconorg-10857	21	4	pricing	pricing	NOUN
fueconorg-10857	21	5	model	model	NOUN
fueconorg-10857	21	6	is	be	AUX
fueconorg-10857	21	7	undoubtedly	undoubtedly	ADV
fueconorg-10857	21	8	the	the	DET
fueconorg-10857	21	9	most	most	ADV
fueconorg-10857	21	10	important	important	ADJ
fueconorg-10857	21	11	and	and	CCONJ
fueconorg-10857	21	12	commonly	commonly	ADV
fueconorg-10857	21	13	utilized	utilize	VERB
fueconorg-10857	21	14	contribution	contribution	NOUN
fueconorg-10857	21	15	to	to	ADP
fueconorg-10857	21	16	finance	finance	NOUN
fueconorg-10857	21	17	(	(	PUNCT
fueconorg-10857	21	18	ross	ross	PROPN
fueconorg-10857	21	19	,	,	PUNCT
fueconorg-10857	21	20	westerfield	westerfield	PROPN
fueconorg-10857	21	21	,	,	PUNCT
fueconorg-10857	21	22	and	and	CCONJ
fueconorg-10857	21	23	jordan	jordan	PROPN
fueconorg-10857	21	24	,	,	PUNCT
fueconorg-10857	21	25	1996	1996	NUM
fueconorg-10857	21	26	)	)	PUNCT
fueconorg-10857	21	27	.	.	PUNCT
fueconorg-10857	22	1	it	it	PRON
fueconorg-10857	22	2	is	be	AUX
fueconorg-10857	22	3	necessary	necessary	ADJ
fueconorg-10857	22	4	to	to	PART
fueconorg-10857	22	5	describe	describe	VERB
fueconorg-10857	22	6	the	the	DET
fueconorg-10857	22	7	company	company	NOUN
fueconorg-10857	22	8	's	's	PART
fueconorg-10857	22	9	business	business	NOUN
fueconorg-10857	22	10	purpose	purpose	NOUN
fueconorg-10857	22	11	while	while	SCONJ
fueconorg-10857	22	12	discussing	discuss	VERB
fueconorg-10857	22	13	the	the	DET
fueconorg-10857	22	14	financial	financial	ADJ
fueconorg-10857	22	15	market	market	NOUN
fueconorg-10857	22	16	and	and	CCONJ
fueconorg-10857	22	17	individual	individual	ADJ
fueconorg-10857	22	18	stocks	stock	NOUN
fueconorg-10857	22	19	of	of	ADP
fueconorg-10857	22	20	specific	specific	ADJ
fueconorg-10857	22	21	corporations	corporation	NOUN
fueconorg-10857	22	22	.	.	PUNCT
fueconorg-10857	23	1	in	in	ADP
fueconorg-10857	23	2	today	today	NOUN
fueconorg-10857	23	3	's	's	PART
fueconorg-10857	23	4	business	business	NOUN
fueconorg-10857	23	5	world	world	NOUN
fueconorg-10857	23	6	,	,	PUNCT
fueconorg-10857	23	7	a	a	DET
fueconorg-10857	23	8	company	company	NOUN
fueconorg-10857	23	9	's	's	PART
fueconorg-10857	23	10	ability	ability	NOUN
fueconorg-10857	23	11	to	to	PART
fueconorg-10857	23	12	adapt	adapt	VERB
fueconorg-10857	23	13	to	to	ADP
fueconorg-10857	23	14	increasingly	increasingly	ADV
fueconorg-10857	23	15	unstable	unstable	ADJ
fueconorg-10857	23	16	business	business	NOUN
fueconorg-10857	23	17	conditions	condition	NOUN
fueconorg-10857	23	18	is	be	AUX
fueconorg-10857	23	19	critical	critical	ADJ
fueconorg-10857	23	20	to	to	ADP
fueconorg-10857	23	21	its	its	PRON
fueconorg-10857	23	22	survival	survival	NOUN
fueconorg-10857	23	23	.	.	PUNCT
fueconorg-10857	24	1	companies	company	NOUN
fueconorg-10857	24	2	analyze	analyze	VERB
fueconorg-10857	24	3	the	the	DET
fueconorg-10857	24	4	success	success	NOUN
fueconorg-10857	24	5	of	of	ADP
fueconorg-10857	24	6	their	their	PRON
fueconorg-10857	24	7	management	management	NOUN
fueconorg-10857	24	8	decisions	decision	NOUN
fueconorg-10857	24	9	against	against	ADP
fueconorg-10857	24	10	a	a	DET
fueconorg-10857	24	11	predetermined	predetermine	VERB
fueconorg-10857	24	12	aim	aim	NOUN
fueconorg-10857	24	13	,	,	PUNCT
fueconorg-10857	24	14	hence	hence	ADV
fueconorg-10857	24	15	they	they	PRON
fueconorg-10857	24	16	require	require	VERB
fueconorg-10857	24	17	a	a	DET
fueconorg-10857	24	18	goal	goal	NOUN
fueconorg-10857	24	19	.	.	PUNCT
fueconorg-10857	25	1	companies	company	NOUN
fueconorg-10857	25	2	develop	develop	VERB
fueconorg-10857	25	3	metrics	metric	NOUN
fueconorg-10857	25	4	and	and	CCONJ
fueconorg-10857	25	5	operational	operational	ADJ
fueconorg-10857	25	6	goals	goal	NOUN
fueconorg-10857	25	7	that	that	PRON
fueconorg-10857	25	8	they	they	PRON
fueconorg-10857	25	9	wish	wish	VERB
fueconorg-10857	25	10	to	to	PART
fueconorg-10857	25	11	attain	attain	VERB
fueconorg-10857	25	12	in	in	ADP
fueconorg-10857	25	13	their	their	PRON
fueconorg-10857	25	14	business	business	NOUN
fueconorg-10857	25	15	to	to	PART
fueconorg-10857	25	16	reach	reach	VERB
fueconorg-10857	25	17	the	the	DET
fueconorg-10857	25	18	defined	define	VERB
fueconorg-10857	25	19	goal	goal	NOUN
fueconorg-10857	25	20	.	.	PUNCT
fueconorg-10857	26	1	(	(	PUNCT
fueconorg-10857	26	2	mirović	mirović	NOUN
fueconorg-10857	26	3	,	,	PUNCT
fueconorg-10857	26	4	mijić	mijić	NOUN
fueconorg-10857	26	5	,	,	PUNCT
fueconorg-10857	26	6	andrašić	andrašić	PROPN
fueconorg-10857	26	7	&	&	CCONJ
fueconorg-10857	26	8	kalaš	kalaš	PROPN
fueconorg-10857	26	9	,	,	PUNCT
fueconorg-10857	26	10	2019	2019	NUM
fueconorg-10857	26	11	,	,	PUNCT
fueconorg-10857	26	12	p.	p.	NOUN
fueconorg-10857	26	13	5	5	NUM
fueconorg-10857	26	14	)	)	PUNCT
fueconorg-10857	26	15	.	.	PUNCT
fueconorg-10857	27	1	the	the	DET
fueconorg-10857	27	2	capm	capm	PROPN
fueconorg-10857	27	3	model	model	NOUN
fueconorg-10857	27	4	's	's	PART
fueconorg-10857	27	5	assumptions	assumption	NOUN
fueconorg-10857	27	6	for	for	ADP
fueconorg-10857	27	7	proper	proper	ADJ
fueconorg-10857	27	8	implementation	implementation	NOUN
fueconorg-10857	27	9	are	be	AUX
fueconorg-10857	27	10	concerned	concern	VERB
fueconorg-10857	27	11	with	with	ADP
fueconorg-10857	27	12	investor	investor	NOUN
fueconorg-10857	27	13	behavior	behavior	NOUN
fueconorg-10857	27	14	and	and	CCONJ
fueconorg-10857	27	15	capital	capital	NOUN
fueconorg-10857	27	16	market	market	NOUN
fueconorg-10857	27	17	conditions	condition	NOUN
fueconorg-10857	27	18	.	.	PUNCT
fueconorg-10857	28	1	according	accord	VERB
fueconorg-10857	28	2	to	to	ADP
fueconorg-10857	28	3	these	these	DET
fueconorg-10857	28	4	assumptions	assumption	NOUN
fueconorg-10857	28	5	,	,	PUNCT
fueconorg-10857	28	6	the	the	DET
fueconorg-10857	28	7	market	market	NOUN
fueconorg-10857	28	8	should	should	AUX
fueconorg-10857	28	9	be	be	AUX
fueconorg-10857	28	10	made	make	VERB
fueconorg-10857	28	11	up	up	ADP
fueconorg-10857	28	12	of	of	ADP
fueconorg-10857	28	13	risk	risk	NOUN
fueconorg-10857	28	14	-	-	PUNCT
fueconorg-10857	28	15	averse	averse	ADJ
fueconorg-10857	28	16	investors	investor	NOUN
fueconorg-10857	28	17	,	,	PUNCT
fueconorg-10857	28	18	risk	risk	NOUN
fueconorg-10857	28	19	should	should	AUX
fueconorg-10857	28	20	be	be	AUX
fueconorg-10857	28	21	measured	measure	VERB
fueconorg-10857	28	22	by	by	ADP
fueconorg-10857	28	23	the	the	DET
fueconorg-10857	28	24	standard	standard	ADJ
fueconorg-10857	28	25	deviation	deviation	NOUN
fueconorg-10857	28	26	of	of	ADP
fueconorg-10857	28	27	portfolio	portfolio	NOUN
fueconorg-10857	28	28	income	income	NOUN
fueconorg-10857	28	29	,	,	PUNCT
fueconorg-10857	28	30	investors	investor	NOUN
fueconorg-10857	28	31	should	should	AUX
fueconorg-10857	28	32	have	have	VERB
fueconorg-10857	28	33	a	a	DET
fueconorg-10857	28	34	common	common	ADJ
fueconorg-10857	28	35	period	period	NOUN
fueconorg-10857	28	36	for	for	ADP
fueconorg-10857	28	37	making	make	VERB
fueconorg-10857	28	38	investment	investment	NOUN
fueconorg-10857	28	39	decisions	decision	NOUN
fueconorg-10857	28	40	,	,	PUNCT
fueconorg-10857	28	41	and	and	CCONJ
fueconorg-10857	28	42	investors	investor	NOUN
fueconorg-10857	28	43	should	should	AUX
fueconorg-10857	28	44	have	have	VERB
fueconorg-10857	28	45	similar	similar	ADJ
fueconorg-10857	28	46	expectations	expectation	NOUN
fueconorg-10857	28	47	about	about	ADP
fueconorg-10857	28	48	future	future	ADJ
fueconorg-10857	28	49	income	income	NOUN
fueconorg-10857	28	50	and	and	CCONJ
fueconorg-10857	28	51	security	security	NOUN
fueconorg-10857	28	52	risks	risk	NOUN
fueconorg-10857	28	53	.	.	PUNCT
fueconorg-10857	29	1	finally	finally	ADV
fueconorg-10857	29	2	,	,	PUNCT
fueconorg-10857	29	3	the	the	DET
fueconorg-10857	29	4	capital	capital	NOUN
fueconorg-10857	29	5	market	market	NOUN
fueconorg-10857	29	6	must	must	AUX
fueconorg-10857	29	7	be	be	AUX
fueconorg-10857	29	8	perfect	perfect	ADJ
fueconorg-10857	29	9	.	.	PUNCT
fueconorg-10857	30	1	regardless	regardless	ADV
fueconorg-10857	30	2	of	of	ADP
fueconorg-10857	30	3	the	the	DET
fueconorg-10857	30	4	capm	capm	PROPN
fueconorg-10857	30	5	model	model	NOUN
fueconorg-10857	30	6	's	's	PART
fueconorg-10857	30	7	broad	broad	ADJ
fueconorg-10857	30	8	application	application	NOUN
fueconorg-10857	30	9	,	,	PUNCT
fueconorg-10857	30	10	the	the	DET
fueconorg-10857	30	11	model	model	NOUN
fueconorg-10857	30	12	's	's	PART
fueconorg-10857	30	13	fundamental	fundamental	ADJ
fueconorg-10857	30	14	flaw	flaw	NOUN
fueconorg-10857	30	15	is	be	AUX
fueconorg-10857	30	16	the	the	DET
fueconorg-10857	30	17	anticipated	anticipated	ADJ
fueconorg-10857	30	18	investor	investor	NOUN
fueconorg-10857	30	19	expectation	expectation	NOUN
fueconorg-10857	30	20	,	,	PUNCT
fueconorg-10857	30	21	not	not	PART
fueconorg-10857	30	22	the	the	DET
fueconorg-10857	30	23	achieved	achieve	VERB
fueconorg-10857	30	24	return	return	NOUN
fueconorg-10857	30	25	(	(	PUNCT
fueconorg-10857	30	26	vunjak	vunjak	PROPN
fueconorg-10857	30	27	,	,	PUNCT
fueconorg-10857	30	28	2008	2008	NUM
fueconorg-10857	30	29	,	,	PUNCT
fueconorg-10857	30	30	p.	p.	NOUN
fueconorg-10857	30	31	251	251	NUM
fueconorg-10857	30	32	)	)	PUNCT
fueconorg-10857	30	33	.	.	PUNCT
fueconorg-10857	31	1	in	in	ADP
fueconorg-10857	31	2	the	the	DET
fueconorg-10857	31	3	continuation	continuation	NOUN
fueconorg-10857	31	4	of	of	ADP
fueconorg-10857	31	5	the	the	DET
fueconorg-10857	31	6	research	research	NOUN
fueconorg-10857	31	7	,	,	PUNCT
fueconorg-10857	31	8	we	we	PRON
fueconorg-10857	31	9	review	review	VERB
fueconorg-10857	31	10	the	the	DET
fueconorg-10857	31	11	literature	literature	NOUN
fueconorg-10857	31	12	related	relate	VERB
fueconorg-10857	31	13	to	to	ADP
fueconorg-10857	31	14	the	the	DET
fueconorg-10857	31	15	application	application	NOUN
fueconorg-10857	31	16	of	of	ADP
fueconorg-10857	31	17	the	the	DET
fueconorg-10857	31	18	capm	capm	PROPN
fueconorg-10857	31	19	model	model	NOUN
fueconorg-10857	31	20	.	.	PUNCT
fueconorg-10857	32	1	after	after	ADP
fueconorg-10857	32	2	reviewing	review	VERB
fueconorg-10857	32	3	the	the	DET
fueconorg-10857	32	4	literature	literature	NOUN
fueconorg-10857	32	5	,	,	PUNCT
fueconorg-10857	32	6	we	we	PRON
fueconorg-10857	32	7	review	review	VERB
fueconorg-10857	32	8	the	the	DET
fueconorg-10857	32	9	methodology	methodology	NOUN
fueconorg-10857	32	10	of	of	ADP
fueconorg-10857	32	11	the	the	DET
fueconorg-10857	32	12	paper	paper	NOUN
fueconorg-10857	32	13	and	and	CCONJ
fueconorg-10857	32	14	finally	finally	ADV
fueconorg-10857	32	15	present	present	VERB
fueconorg-10857	32	16	the	the	DET
fueconorg-10857	32	17	results	result	NOUN
fueconorg-10857	32	18	of	of	ADP
fueconorg-10857	32	19	the	the	DET
fueconorg-10857	32	20	research	research	NOUN
fueconorg-10857	32	21	and	and	CCONJ
fueconorg-10857	32	22	discuss	discuss	VERB
fueconorg-10857	32	23	the	the	DET
fueconorg-10857	32	24	results	result	NOUN
fueconorg-10857	32	25	obtained	obtain	VERB
fueconorg-10857	32	26	.	.	PUNCT
fueconorg-10857	33	1	in	in	ADP
fueconorg-10857	33	2	the	the	DET
fueconorg-10857	33	3	conclusion	conclusion	NOUN
fueconorg-10857	33	4	,	,	PUNCT
fueconorg-10857	33	5	we	we	PRON
fueconorg-10857	33	6	express	express	VERB
fueconorg-10857	33	7	our	our	PRON
fueconorg-10857	33	8	concluding	concluding	NOUN
fueconorg-10857	33	9	remarks	remark	NOUN
fueconorg-10857	33	10	and	and	CCONJ
fueconorg-10857	33	11	give	give	VERB
fueconorg-10857	33	12	suggestions	suggestion	NOUN
fueconorg-10857	33	13	for	for	ADP
fueconorg-10857	33	14	further	further	ADJ
fueconorg-10857	33	15	research	research	NOUN
fueconorg-10857	33	16	.	.	PUNCT
fueconorg-10857	34	1	2	2	X
fueconorg-10857	34	2	.	.	X
fueconorg-10857	34	3	literature	literature	NOUN
fueconorg-10857	34	4	review	review	VERB
fueconorg-10857	34	5	the	the	DET
fueconorg-10857	34	6	model	model	NOUN
fueconorg-10857	34	7	itself	itself	PRON
fueconorg-10857	34	8	assumes	assume	VERB
fueconorg-10857	34	9	the	the	DET
fueconorg-10857	34	10	existence	existence	NOUN
fueconorg-10857	34	11	of	of	ADP
fueconorg-10857	34	12	perfect	perfect	ADJ
fueconorg-10857	34	13	market	market	NOUN
fueconorg-10857	34	14	conditions	condition	NOUN
fueconorg-10857	34	15	,	,	PUNCT
fueconorg-10857	34	16	which	which	PRON
fueconorg-10857	34	17	is	be	AUX
fueconorg-10857	34	18	not	not	PART
fueconorg-10857	34	19	the	the	DET
fueconorg-10857	34	20	case	case	NOUN
fueconorg-10857	34	21	in	in	ADP
fueconorg-10857	34	22	practice	practice	NOUN
fueconorg-10857	34	23	.	.	PUNCT
fueconorg-10857	35	1	the	the	DET
fueconorg-10857	35	2	model	model	NOUN
fueconorg-10857	35	3	itself	itself	PRON
fueconorg-10857	35	4	was	be	AUX
fueconorg-10857	35	5	developed	develop	VERB
fueconorg-10857	35	6	by	by	ADP
fueconorg-10857	35	7	william	william	PROPN
fueconorg-10857	35	8	f.	f.	PROPN
fueconorg-10857	35	9	sharpe	sharpe	PROPN
fueconorg-10857	35	10	(	(	PUNCT
fueconorg-10857	35	11	1964	1964	NUM
fueconorg-10857	35	12	)	)	PUNCT
fueconorg-10857	35	13	and	and	CCONJ
fueconorg-10857	35	14	john	john	PROPN
fueconorg-10857	35	15	lintner	lintner	PROPN
fueconorg-10857	35	16	(	(	PUNCT
fueconorg-10857	35	17	1965	1965	NUM
fueconorg-10857	35	18	)	)	PUNCT
fueconorg-10857	35	19	as	as	ADP
fueconorg-10857	35	20	a	a	DET
fueconorg-10857	35	21	reaction	reaction	NOUN
fueconorg-10857	35	22	to	to	ADP
fueconorg-10857	35	23	the	the	DET
fueconorg-10857	35	24	modern	modern	ADJ
fueconorg-10857	35	25	portfolio	portfolio	NOUN
fueconorg-10857	35	26	theory	theory	NOUN
fueconorg-10857	35	27	developed	develop	VERB
fueconorg-10857	35	28	by	by	ADP
fueconorg-10857	35	29	markowitz	markowitz	PROPN
fueconorg-10857	35	30	(	(	PUNCT
fueconorg-10857	35	31	1952	1952	NUM
fueconorg-10857	35	32	)	)	PUNCT
fueconorg-10857	35	33	.	.	PUNCT
fueconorg-10857	36	1	portfolios	portfolio	NOUN
fueconorg-10857	36	2	are	be	AUX
fueconorg-10857	36	3	classified	classify	VERB
fueconorg-10857	36	4	into	into	ADP
fueconorg-10857	36	5	two	two	NUM
fueconorg-10857	36	6	types	type	NOUN
fueconorg-10857	36	7	,	,	PUNCT
fueconorg-10857	36	8	according	accord	VERB
fueconorg-10857	36	9	to	to	ADP
fueconorg-10857	36	10	markowitz	markowitz	PROPN
fueconorg-10857	36	11	:	:	PUNCT
fueconorg-10857	36	12	efficient	efficient	ADJ
fueconorg-10857	36	13	and	and	CCONJ
fueconorg-10857	36	14	inefficient	inefficient	ADJ
fueconorg-10857	36	15	.	.	PUNCT
fueconorg-10857	37	1	the	the	DET
fueconorg-10857	37	2	efficient	efficient	ADJ
fueconorg-10857	37	3	frontier	frontier	NOUN
fueconorg-10857	37	4	is	be	AUX
fueconorg-10857	37	5	the	the	DET
fueconorg-10857	37	6	boundary	boundary	NOUN
fueconorg-10857	37	7	between	between	ADP
fueconorg-10857	37	8	an	an	DET
fueconorg-10857	37	9	efficient	efficient	ADJ
fueconorg-10857	37	10	and	and	CCONJ
fueconorg-10857	37	11	an	an	DET
fueconorg-10857	37	12	inefficient	inefficient	ADJ
fueconorg-10857	37	13	portfolio	portfolio	NOUN
fueconorg-10857	37	14	.	.	PUNCT
fueconorg-10857	38	1	the	the	DET
fueconorg-10857	38	2	efficiency	efficiency	NOUN
fueconorg-10857	38	3	frontier	frontier	NOUN
fueconorg-10857	38	4	is	be	AUX
fueconorg-10857	38	5	made	make	VERB
fueconorg-10857	38	6	up	up	ADP
fueconorg-10857	38	7	of	of	ADP
fueconorg-10857	38	8	a	a	DET
fueconorg-10857	38	9	set	set	NOUN
fueconorg-10857	38	10	of	of	ADP
fueconorg-10857	38	11	portfolios	portfolio	NOUN
fueconorg-10857	38	12	that	that	PRON
fueconorg-10857	38	13	have	have	VERB
fueconorg-10857	38	14	a	a	DET
fueconorg-10857	38	15	good	good	ADJ
fueconorg-10857	38	16	balance	balance	NOUN
fueconorg-10857	38	17	of	of	ADP
fueconorg-10857	38	18	expected	expect	VERB
fueconorg-10857	38	19	return	return	NOUN
fueconorg-10857	38	20	and	and	CCONJ
fueconorg-10857	38	21	risk	risk	NOUN
fueconorg-10857	38	22	.	.	PUNCT
fueconorg-10857	39	1	according	accord	VERB
fueconorg-10857	39	2	to	to	ADP
fueconorg-10857	39	3	the	the	DET
fueconorg-10857	39	4	frontier	frontier	NOUN
fueconorg-10857	39	5	,	,	PUNCT
fueconorg-10857	39	6	the	the	PRON
fueconorg-10857	39	7	higher	high	ADJ
fueconorg-10857	39	8	the	the	DET
fueconorg-10857	39	9	return	return	NOUN
fueconorg-10857	39	10	dispersion	dispersion	NOUN
fueconorg-10857	39	11	around	around	ADP
fueconorg-10857	39	12	the	the	DET
fueconorg-10857	39	13	predicted	predict	VERB
fueconorg-10857	39	14	returns	return	NOUN
fueconorg-10857	39	15	,	,	PUNCT
fueconorg-10857	39	16	the	the	DET
fueconorg-10857	39	17	more	more	ADV
fueconorg-10857	39	18	uncertain	uncertain	ADJ
fueconorg-10857	39	19	future	future	ADJ
fueconorg-10857	39	20	returns	return	NOUN
fueconorg-10857	39	21	,	,	PUNCT
fueconorg-10857	39	22	as	as	ADV
fueconorg-10857	39	23	well	well	ADV
fueconorg-10857	39	24	as	as	ADP
fueconorg-10857	39	25	the	the	DET
fueconorg-10857	39	26	risk	risk	NOUN
fueconorg-10857	39	27	,	,	PUNCT
fueconorg-10857	39	28	which	which	PRON
fueconorg-10857	39	29	increases	increase	VERB
fueconorg-10857	39	30	exponentially	exponentially	ADV
fueconorg-10857	39	31	.	.	PUNCT
fueconorg-10857	40	1	(	(	PUNCT
fueconorg-10857	40	2	brealy	brealy	PROPN
fueconorg-10857	40	3	&	&	CCONJ
fueconorg-10857	40	4	myers	myers	PROPN
fueconorg-10857	40	5	,	,	PUNCT
fueconorg-10857	40	6	2016	2016	NUM
fueconorg-10857	40	7	)	)	PUNCT
fueconorg-10857	40	8	.	.	PUNCT
fueconorg-10857	41	1	additionally	additionally	ADV
fueconorg-10857	41	2	,	,	PUNCT
fueconorg-10857	41	3	the	the	DET
fueconorg-10857	41	4	cautious	cautious	ADJ
fueconorg-10857	41	5	long	long	ADJ
fueconorg-10857	41	6	-	-	PUNCT
fueconorg-10857	41	7	term	term	NOUN
fueconorg-10857	41	8	investor	investor	NOUN
fueconorg-10857	41	9	will	will	AUX
fueconorg-10857	41	10	testing	test	VERB
fueconorg-10857	41	11	of	of	ADP
fueconorg-10857	41	12	applicability	applicability	NOUN
fueconorg-10857	41	13	of	of	ADP
fueconorg-10857	41	14	the	the	DET
fueconorg-10857	41	15	capm	capm	PROPN
fueconorg-10857	41	16	model	model	NOUN
fueconorg-10857	41	17	using	use	VERB
fueconorg-10857	41	18	selected	select	VERB
fueconorg-10857	41	19	stocks	stock	NOUN
fueconorg-10857	41	20	listed	list	VERB
fueconorg-10857	41	21	on	on	ADP
fueconorg-10857	41	22	the	the	DET
fueconorg-10857	41	23	belgrade	belgrade	PROPN
fueconorg-10857	41	24	stock	stock	PROPN
fueconorg-10857	41	25	exchange	exchange	PROPN
fueconorg-10857	41	26	185	185	NUM
fueconorg-10857	41	27	stay	stay	VERB
fueconorg-10857	41	28	away	away	ADV
fueconorg-10857	41	29	from	from	ADP
fueconorg-10857	41	30	such	such	ADJ
fueconorg-10857	41	31	overweights	overweight	NOUN
fueconorg-10857	41	32	to	to	PART
fueconorg-10857	41	33	protect	protect	VERB
fueconorg-10857	41	34	themselves	themselves	PRON
fueconorg-10857	41	35	from	from	ADP
fueconorg-10857	41	36	two	two	NUM
fueconorg-10857	41	37	types	type	NOUN
fueconorg-10857	41	38	of	of	ADP
fueconorg-10857	41	39	declines	decline	NOUN
fueconorg-10857	41	40	in	in	ADP
fueconorg-10857	41	41	investing	invest	VERB
fueconorg-10857	41	42	opportunities	opportunity	NOUN
fueconorg-10857	41	43	:	:	PUNCT
fueconorg-10857	41	44	declining	decline	VERB
fueconorg-10857	41	45	anticipated	anticipate	VERB
fueconorg-10857	41	46	returns	return	NOUN
fueconorg-10857	41	47	on	on	ADP
fueconorg-10857	41	48	stocks	stock	NOUN
fueconorg-10857	41	49	and	and	CCONJ
fueconorg-10857	41	50	rising	rise	VERB
fueconorg-10857	41	51	volatility	volatility	NOUN
fueconorg-10857	41	52	(	(	PUNCT
fueconorg-10857	41	53	cambell	cambell	PROPN
fueconorg-10857	41	54	,	,	PUNCT
fueconorg-10857	41	55	giglio	giglio	PROPN
fueconorg-10857	41	56	,	,	PUNCT
fueconorg-10857	41	57	polk	polk	PROPN
fueconorg-10857	41	58	&	&	CCONJ
fueconorg-10857	41	59	turley	turley	PROPN
fueconorg-10857	41	60	,	,	PUNCT
fueconorg-10857	41	61	2018	2018	NUM
fueconorg-10857	41	62	)	)	PUNCT
fueconorg-10857	41	63	.	.	PUNCT
fueconorg-10857	42	1	modern	modern	ADJ
fueconorg-10857	42	2	portfolio	portfolio	NOUN
fueconorg-10857	42	3	theory	theory	NOUN
fueconorg-10857	42	4	served	serve	VERB
fueconorg-10857	42	5	as	as	ADP
fueconorg-10857	42	6	a	a	DET
fueconorg-10857	42	7	common	common	ADJ
fueconorg-10857	42	8	foundation	foundation	NOUN
fueconorg-10857	42	9	for	for	ADP
fueconorg-10857	42	10	the	the	DET
fueconorg-10857	42	11	creation	creation	NOUN
fueconorg-10857	42	12	of	of	ADP
fueconorg-10857	42	13	many	many	ADJ
fueconorg-10857	42	14	financial	financial	ADJ
fueconorg-10857	42	15	ideas	idea	NOUN
fueconorg-10857	42	16	and	and	CCONJ
fueconorg-10857	42	17	concepts	concept	NOUN
fueconorg-10857	42	18	that	that	PRON
fueconorg-10857	42	19	are	be	AUX
fueconorg-10857	42	20	still	still	ADV
fueconorg-10857	42	21	frequently	frequently	ADV
fueconorg-10857	42	22	employed	employ	VERB
fueconorg-10857	42	23	today	today	NOUN
fueconorg-10857	42	24	but	but	CCONJ
fueconorg-10857	42	25	are	be	AUX
fueconorg-10857	42	26	also	also	ADV
fueconorg-10857	42	27	subject	subject	ADJ
fueconorg-10857	42	28	to	to	ADP
fueconorg-10857	42	29	ongoing	ongoing	ADJ
fueconorg-10857	42	30	critique	critique	NOUN
fueconorg-10857	42	31	.	.	PUNCT
fueconorg-10857	43	1	the	the	DET
fueconorg-10857	43	2	introduction	introduction	NOUN
fueconorg-10857	43	3	of	of	ADP
fueconorg-10857	43	4	new	new	ADJ
fueconorg-10857	43	5	financial	financial	ADJ
fueconorg-10857	43	6	instruments	instrument	NOUN
fueconorg-10857	43	7	,	,	PUNCT
fueconorg-10857	43	8	as	as	ADV
fueconorg-10857	43	9	well	well	ADV
fueconorg-10857	43	10	as	as	ADP
fueconorg-10857	43	11	various	various	ADJ
fueconorg-10857	43	12	sorts	sort	NOUN
fueconorg-10857	43	13	of	of	ADP
fueconorg-10857	43	14	investors	investor	NOUN
fueconorg-10857	43	15	,	,	PUNCT
fueconorg-10857	43	16	has	have	AUX
fueconorg-10857	43	17	necessitated	necessitate	VERB
fueconorg-10857	43	18	the	the	DET
fueconorg-10857	43	19	inclusion	inclusion	NOUN
fueconorg-10857	43	20	of	of	ADP
fueconorg-10857	43	21	severe	severe	ADJ
fueconorg-10857	43	22	risk	risk	NOUN
fueconorg-10857	43	23	effects	effect	NOUN
fueconorg-10857	43	24	in	in	ADP
fueconorg-10857	43	25	portfolio	portfolio	NOUN
fueconorg-10857	43	26	optimization	optimization	NOUN
fueconorg-10857	43	27	models	model	NOUN
fueconorg-10857	43	28	.	.	PUNCT
fueconorg-10857	44	1	investors	investor	NOUN
fueconorg-10857	44	2	will	will	AUX
fueconorg-10857	44	3	choose	choose	VERB
fueconorg-10857	44	4	to	to	PART
fueconorg-10857	44	5	put	put	VERB
fueconorg-10857	44	6	their	their	PRON
fueconorg-10857	44	7	funds	fund	NOUN
fueconorg-10857	44	8	in	in	ADP
fueconorg-10857	44	9	financial	financial	ADJ
fueconorg-10857	44	10	assets	asset	NOUN
fueconorg-10857	44	11	whose	whose	DET
fueconorg-10857	44	12	return	return	NOUN
fueconorg-10857	44	13	distribution	distribution	NOUN
fueconorg-10857	44	14	is	be	AUX
fueconorg-10857	44	15	favorably	favorably	ADV
fueconorg-10857	44	16	asymmetrical	asymmetrical	ADJ
fueconorg-10857	44	17	,	,	PUNCT
fueconorg-10857	44	18	while	while	SCONJ
fueconorg-10857	44	19	they	they	PRON
fueconorg-10857	44	20	will	will	AUX
fueconorg-10857	44	21	avoid	avoid	VERB
fueconorg-10857	44	22	financial	financial	ADJ
fueconorg-10857	44	23	assets	asset	NOUN
fueconorg-10857	44	24	whose	whose	DET
fueconorg-10857	44	25	return	return	NOUN
fueconorg-10857	44	26	distribution	distribution	NOUN
fueconorg-10857	44	27	is	be	AUX
fueconorg-10857	44	28	long	long	ADV
fueconorg-10857	44	29	-	-	PUNCT
fueconorg-10857	44	30	tailed	tail	VERB
fueconorg-10857	44	31	,	,	PUNCT
fueconorg-10857	44	32	based	base	VERB
fueconorg-10857	44	33	on	on	ADP
fueconorg-10857	44	34	statistical	statistical	ADJ
fueconorg-10857	44	35	features	feature	NOUN
fueconorg-10857	44	36	of	of	ADP
fueconorg-10857	44	37	return	return	NOUN
fueconorg-10857	44	38	distributions	distribution	NOUN
fueconorg-10857	44	39	.	.	PUNCT
fueconorg-10857	45	1	(	(	PUNCT
fueconorg-10857	45	2	stanković	stanković	NOUN
fueconorg-10857	45	3	,	,	PUNCT
fueconorg-10857	45	4	petrović	petrović	NOUN
fueconorg-10857	45	5	&	&	CCONJ
fueconorg-10857	45	6	denčić	denčić	PROPN
fueconorg-10857	45	7	mihajlov	mihajlov	PROPN
fueconorg-10857	45	8	,	,	PUNCT
fueconorg-10857	45	9	2020	2020	NUM
fueconorg-10857	45	10	,	,	PUNCT
fueconorg-10857	45	11	p.	p.	NOUN
fueconorg-10857	45	12	17	17	NUM
fueconorg-10857	45	13	-	-	SYM
fueconorg-10857	45	14	26	26	NUM
fueconorg-10857	45	15	)	)	PUNCT
fueconorg-10857	45	16	.	.	PUNCT
fueconorg-10857	46	1	some	some	DET
fueconorg-10857	46	2	researchers	researcher	NOUN
fueconorg-10857	46	3	employed	employ	VERB
fueconorg-10857	46	4	a	a	DET
fueconorg-10857	46	5	variety	variety	NOUN
fueconorg-10857	46	6	of	of	ADP
fueconorg-10857	46	7	techniques	technique	NOUN
fueconorg-10857	46	8	to	to	PART
fueconorg-10857	46	9	forecast	forecast	VERB
fueconorg-10857	46	10	market	market	NOUN
fueconorg-10857	46	11	movement	movement	NOUN
fueconorg-10857	46	12	.	.	PUNCT
fueconorg-10857	47	1	the	the	DET
fueconorg-10857	47	2	box	box	PROPN
fueconorg-10857	47	3	-	-	PUNCT
fueconorg-10857	47	4	jenkins	jenkins	PROPN
fueconorg-10857	47	5	(	(	PUNCT
fueconorg-10857	47	6	arima	arima	PROPN
fueconorg-10857	47	7	)	)	PUNCT
fueconorg-10857	47	8	test	test	NOUN
fueconorg-10857	47	9	was	be	AUX
fueconorg-10857	47	10	used	use	VERB
fueconorg-10857	47	11	by	by	ADP
fueconorg-10857	47	12	jakšić	jakšić	PROPN
fueconorg-10857	47	13	,	,	PUNCT
fueconorg-10857	47	14	milanović	milanović	NOUN
fueconorg-10857	47	15	,	,	PUNCT
fueconorg-10857	47	16	and	and	CCONJ
fueconorg-10857	47	17	stojković	stojković	NOUN
fueconorg-10857	47	18	(	(	PUNCT
fueconorg-10857	47	19	2020	2020	NUM
fueconorg-10857	47	20	)	)	PUNCT
fueconorg-10857	47	21	to	to	PART
fueconorg-10857	47	22	perform	perform	VERB
fueconorg-10857	47	23	an	an	DET
fueconorg-10857	47	24	empirical	empirical	ADJ
fueconorg-10857	47	25	study	study	NOUN
fueconorg-10857	47	26	that	that	PRON
fueconorg-10857	47	27	found	find	VERB
fueconorg-10857	47	28	that	that	SCONJ
fueconorg-10857	47	29	the	the	DET
fueconorg-10857	47	30	share	share	NOUN
fueconorg-10857	47	31	market	market	NOUN
fueconorg-10857	47	32	in	in	ADP
fueconorg-10857	47	33	the	the	DET
fueconorg-10857	47	34	republic	republic	NOUN
fueconorg-10857	47	35	of	of	ADP
fueconorg-10857	47	36	serbia	serbia	PROPN
fueconorg-10857	47	37	will	will	AUX
fueconorg-10857	47	38	not	not	PART
fueconorg-10857	47	39	have	have	VERB
fueconorg-10857	47	40	any	any	DET
fueconorg-10857	47	41	noteworthy	noteworthy	ADJ
fueconorg-10857	47	42	trends	trend	NOUN
fueconorg-10857	47	43	in	in	ADP
fueconorg-10857	47	44	2019	2019	NUM
fueconorg-10857	47	45	.	.	PUNCT
fueconorg-10857	48	1	forecasting	forecasting	NOUN
fueconorg-10857	48	2	,	,	PUNCT
fueconorg-10857	48	3	on	on	ADP
fueconorg-10857	48	4	the	the	DET
fueconorg-10857	48	5	other	other	ADJ
fueconorg-10857	48	6	hand	hand	NOUN
fueconorg-10857	48	7	,	,	PUNCT
fueconorg-10857	48	8	can	can	AUX
fueconorg-10857	48	9	not	not	PART
fueconorg-10857	48	10	accurately	accurately	ADV
fueconorg-10857	48	11	predict	predict	VERB
fueconorg-10857	48	12	future	future	ADJ
fueconorg-10857	48	13	movements	movement	NOUN
fueconorg-10857	48	14	,	,	PUNCT
fueconorg-10857	48	15	thus	thus	ADV
fueconorg-10857	48	16	the	the	DET
fueconorg-10857	48	17	analysis	analysis	NOUN
fueconorg-10857	48	18	and	and	CCONJ
fueconorg-10857	48	19	interpretation	interpretation	NOUN
fueconorg-10857	48	20	of	of	ADP
fueconorg-10857	48	21	the	the	DET
fueconorg-10857	48	22	gathered	gather	VERB
fueconorg-10857	48	23	data	datum	NOUN
fueconorg-10857	48	24	should	should	AUX
fueconorg-10857	48	25	be	be	AUX
fueconorg-10857	48	26	viewed	view	VERB
fueconorg-10857	48	27	as	as	ADP
fueconorg-10857	48	28	potentially	potentially	ADV
fueconorg-10857	48	29	erroneous	erroneous	ADJ
fueconorg-10857	48	30	.	.	PUNCT
fueconorg-10857	49	1	because	because	SCONJ
fueconorg-10857	49	2	uncertainty	uncertainty	NOUN
fueconorg-10857	49	3	and	and	CCONJ
fueconorg-10857	49	4	potential	potential	ADJ
fueconorg-10857	49	5	errors	error	NOUN
fueconorg-10857	49	6	are	be	AUX
fueconorg-10857	49	7	proportional	proportional	ADJ
fueconorg-10857	49	8	to	to	ADP
fueconorg-10857	49	9	the	the	DET
fueconorg-10857	49	10	length	length	NOUN
fueconorg-10857	49	11	of	of	ADP
fueconorg-10857	49	12	the	the	DET
fueconorg-10857	49	13	forecast	forecast	NOUN
fueconorg-10857	49	14	period	period	NOUN
fueconorg-10857	49	15	,	,	PUNCT
fueconorg-10857	49	16	the	the	DET
fueconorg-10857	49	17	prediction	prediction	NOUN
fueconorg-10857	49	18	should	should	AUX
fueconorg-10857	49	19	be	be	AUX
fueconorg-10857	49	20	focused	focus	VERB
fueconorg-10857	49	21	on	on	ADP
fueconorg-10857	49	22	a	a	DET
fueconorg-10857	49	23	short	short	ADJ
fueconorg-10857	49	24	time	time	NOUN
fueconorg-10857	49	25	frame	frame	NOUN
fueconorg-10857	49	26	(	(	PUNCT
fueconorg-10857	49	27	jakšić	jakšić	PROPN
fueconorg-10857	49	28	,	,	PUNCT
fueconorg-10857	49	29	milanović	milanović	NOUN
fueconorg-10857	49	30	&	&	CCONJ
fueconorg-10857	49	31	stojković	stojković	PROPN
fueconorg-10857	49	32	,	,	PUNCT
fueconorg-10857	49	33	2020	2020	NUM
fueconorg-10857	49	34	,	,	PUNCT
fueconorg-10857	49	35	p.	p.	NOUN
fueconorg-10857	49	36	87	87	NUM
fueconorg-10857	49	37	-	-	SYM
fueconorg-10857	49	38	96	96	NUM
fueconorg-10857	49	39	)	)	PUNCT
fueconorg-10857	49	40	.	.	PUNCT
fueconorg-10857	50	1	in	in	ADP
fueconorg-10857	50	2	this	this	DET
fueconorg-10857	50	3	example	example	NOUN
fueconorg-10857	50	4	,	,	PUNCT
fueconorg-10857	50	5	we	we	PRON
fueconorg-10857	50	6	can	can	AUX
fueconorg-10857	50	7	see	see	VERB
fueconorg-10857	50	8	the	the	DET
fueconorg-10857	50	9	breadth	breadth	NOUN
fueconorg-10857	50	10	of	of	ADP
fueconorg-10857	50	11	predictable	predictable	ADJ
fueconorg-10857	50	12	research	research	NOUN
fueconorg-10857	50	13	on	on	ADP
fueconorg-10857	50	14	the	the	DET
fueconorg-10857	50	15	results	result	NOUN
fueconorg-10857	50	16	of	of	ADP
fueconorg-10857	50	17	stock	stock	NOUN
fueconorg-10857	50	18	market	market	NOUN
fueconorg-10857	50	19	actions	action	NOUN
fueconorg-10857	50	20	.	.	PUNCT
fueconorg-10857	51	1	the	the	DET
fueconorg-10857	51	2	capm	capm	PROPN
fueconorg-10857	51	3	model	model	NOUN
fueconorg-10857	51	4	is	be	AUX
fueconorg-10857	51	5	one	one	NUM
fueconorg-10857	51	6	of	of	ADP
fueconorg-10857	51	7	the	the	DET
fueconorg-10857	51	8	first	first	ADJ
fueconorg-10857	51	9	widely	widely	ADV
fueconorg-10857	51	10	recognized	recognize	VERB
fueconorg-10857	51	11	models	model	NOUN
fueconorg-10857	51	12	for	for	ADP
fueconorg-10857	51	13	determining	determine	VERB
fueconorg-10857	51	14	future	future	ADJ
fueconorg-10857	51	15	expected	expect	VERB
fueconorg-10857	51	16	results	result	NOUN
fueconorg-10857	51	17	of	of	ADP
fueconorg-10857	51	18	actions	action	NOUN
fueconorg-10857	51	19	concerning	concern	VERB
fueconorg-10857	51	20	the	the	DET
fueconorg-10857	51	21	market	market	NOUN
fueconorg-10857	51	22	.	.	PUNCT
fueconorg-10857	52	1	there	there	PRON
fueconorg-10857	52	2	is	be	VERB
fueconorg-10857	52	3	also	also	ADV
fueconorg-10857	52	4	minimal	minimal	ADJ
fueconorg-10857	52	5	support	support	NOUN
fueconorg-10857	52	6	for	for	ADP
fueconorg-10857	52	7	the	the	DET
fueconorg-10857	52	8	theory	theory	NOUN
fueconorg-10857	52	9	's	's	PART
fueconorg-10857	52	10	basic	basic	ADJ
fueconorg-10857	52	11	concept	concept	NOUN
fueconorg-10857	52	12	that	that	PRON
fueconorg-10857	52	13	increased	increase	VERB
fueconorg-10857	52	14	risk	risk	NOUN
fueconorg-10857	52	15	(	(	PUNCT
fueconorg-10857	52	16	beta	beta	NOUN
fueconorg-10857	52	17	)	)	PUNCT
fueconorg-10857	52	18	is	be	AUX
fueconorg-10857	52	19	associated	associate	VERB
fueconorg-10857	52	20	with	with	ADP
fueconorg-10857	52	21	higher	high	ADJ
fueconorg-10857	52	22	returns	return	NOUN
fueconorg-10857	52	23	,	,	PUNCT
fueconorg-10857	52	24	according	accord	VERB
fueconorg-10857	52	25	to	to	ADP
fueconorg-10857	52	26	some	some	DET
fueconorg-10857	52	27	research	research	NOUN
fueconorg-10857	52	28	.	.	PUNCT
fueconorg-10857	53	1	to	to	PART
fueconorg-10857	53	2	alleviate	alleviate	VERB
fueconorg-10857	53	3	the	the	DET
fueconorg-10857	53	4	statistical	statistical	ADJ
fueconorg-10857	53	5	issues	issue	NOUN
fueconorg-10857	53	6	that	that	PRON
fueconorg-10857	53	7	occur	occur	VERB
fueconorg-10857	53	8	from	from	ADP
fueconorg-10857	53	9	measurement	measurement	NOUN
fueconorg-10857	53	10	errors	error	NOUN
fueconorg-10857	53	11	in	in	ADP
fueconorg-10857	53	12	individual	individual	ADJ
fueconorg-10857	53	13	beta	beta	NOUN
fueconorg-10857	53	14	estimations	estimation	NOUN
fueconorg-10857	53	15	,	,	PUNCT
fueconorg-10857	53	16	the	the	DET
fueconorg-10857	53	17	securities	security	NOUN
fueconorg-10857	53	18	are	be	AUX
fueconorg-10857	53	19	merged	merge	VERB
fueconorg-10857	53	20	into	into	ADP
fueconorg-10857	53	21	portfolios	portfolio	NOUN
fueconorg-10857	53	22	to	to	PART
fueconorg-10857	53	23	diversify	diversify	VERB
fueconorg-10857	53	24	away	away	ADV
fueconorg-10857	53	25	from	from	ADP
fueconorg-10857	53	26	the	the	DET
fueconorg-10857	53	27	majority	majority	NOUN
fueconorg-10857	53	28	of	of	ADP
fueconorg-10857	53	29	the	the	DET
fueconorg-10857	53	30	company	company	NOUN
fueconorg-10857	53	31	's	's	PART
fueconorg-10857	53	32	elements	element	NOUN
fueconorg-10857	53	33	of	of	ADP
fueconorg-10857	53	34	returns	return	NOUN
fueconorg-10857	53	35	,	,	PUNCT
fueconorg-10857	53	36	hence	hence	ADV
fueconorg-10857	53	37	increasing	increase	VERB
fueconorg-10857	53	38	the	the	DET
fueconorg-10857	53	39	precision	precision	NOUN
fueconorg-10857	53	40	of	of	ADP
fueconorg-10857	53	41	estimates	estimate	NOUN
fueconorg-10857	53	42	of	of	ADP
fueconorg-10857	53	43	the	the	DET
fueconorg-10857	53	44	beta	beta	ADJ
fueconorg-10857	53	45	coefficient	coefficient	NOUN
fueconorg-10857	53	46	(	(	PUNCT
fueconorg-10857	53	47	fama	fama	NOUN
fueconorg-10857	53	48	and	and	CCONJ
fueconorg-10857	53	49	french	french	ADJ
fueconorg-10857	53	50	,	,	PUNCT
fueconorg-10857	53	51	2004	2004	NUM
fueconorg-10857	53	52	,	,	PUNCT
fueconorg-10857	53	53	p.	p.	NOUN
fueconorg-10857	53	54	25	25	NUM
fueconorg-10857	53	55	-	-	SYM
fueconorg-10857	53	56	46	46	NUM
fueconorg-10857	53	57	)	)	PUNCT
fueconorg-10857	53	58	.	.	PUNCT
fueconorg-10857	54	1	the	the	DET
fueconorg-10857	54	2	generalized	generalized	ADJ
fueconorg-10857	54	3	capm	capm	NOUN
fueconorg-10857	54	4	with	with	ADP
fueconorg-10857	54	5	iiapd	iiapd	NOUN
fueconorg-10857	54	6	errors	error	NOUN
fueconorg-10857	54	7	has	have	VERB
fueconorg-10857	54	8	beneficial	beneficial	ADJ
fueconorg-10857	54	9	qualities	quality	NOUN
fueconorg-10857	54	10	,	,	PUNCT
fueconorg-10857	54	11	according	accord	VERB
fueconorg-10857	54	12	to	to	ADP
fueconorg-10857	54	13	bao	bao	PROPN
fueconorg-10857	54	14	,	,	PUNCT
fueconorg-10857	54	15	diks	dik	NOUN
fueconorg-10857	54	16	,	,	PUNCT
fueconorg-10857	54	17	and	and	CCONJ
fueconorg-10857	54	18	li	li	PROPN
fueconorg-10857	54	19	's	's	PART
fueconorg-10857	54	20	research	research	NOUN
fueconorg-10857	54	21	findings	finding	NOUN
fueconorg-10857	54	22	.	.	PUNCT
fueconorg-10857	55	1	in	in	ADP
fueconorg-10857	55	2	terms	term	NOUN
fueconorg-10857	55	3	of	of	ADP
fueconorg-10857	55	4	commonly	commonly	ADV
fueconorg-10857	55	5	used	use	VERB
fueconorg-10857	55	6	performance	performance	NOUN
fueconorg-10857	55	7	measures	measure	NOUN
fueconorg-10857	55	8	,	,	PUNCT
fueconorg-10857	55	9	portfolios	portfolio	NOUN
fueconorg-10857	55	10	produced	produce	VERB
fueconorg-10857	55	11	with	with	ADP
fueconorg-10857	55	12	iiapd	iiapd	NOUN
fueconorg-10857	55	13	errors	error	NOUN
fueconorg-10857	55	14	beat	beat	VERB
fueconorg-10857	55	15	portfolios	portfolio	NOUN
fueconorg-10857	55	16	constructed	construct	VERB
fueconorg-10857	55	17	with	with	ADP
fueconorg-10857	55	18	normally	normally	ADV
fueconorg-10857	55	19	distributed	distribute	VERB
fueconorg-10857	55	20	errors	error	NOUN
fueconorg-10857	55	21	,	,	PUNCT
fueconorg-10857	55	22	according	accord	VERB
fueconorg-10857	55	23	to	to	ADP
fueconorg-10857	55	24	the	the	DET
fueconorg-10857	55	25	testing	testing	NOUN
fueconorg-10857	55	26	.	.	PUNCT
fueconorg-10857	56	1	(	(	PUNCT
fueconorg-10857	56	2	bao	bao	PROPN
fueconorg-10857	56	3	,	,	PUNCT
fueconorg-10857	56	4	diks	diks	PROPN
fueconorg-10857	56	5	&	&	CCONJ
fueconorg-10857	56	6	li	li	PROPN
fueconorg-10857	56	7	,	,	PUNCT
fueconorg-10857	56	8	2018	2018	NUM
fueconorg-10857	56	9	,	,	PUNCT
fueconorg-10857	56	10	p.	p.	NOUN
fueconorg-10857	56	11	611	611	NUM
fueconorg-10857	56	12	-	-	SYM
fueconorg-10857	56	13	621	621	NUM
fueconorg-10857	56	14	)	)	PUNCT
fueconorg-10857	56	15	.	.	PUNCT
fueconorg-10857	57	1	on	on	ADP
fueconorg-10857	57	2	the	the	DET
fueconorg-10857	57	3	other	other	ADJ
fueconorg-10857	57	4	hand	hand	NOUN
fueconorg-10857	57	5	,	,	PUNCT
fueconorg-10857	57	6	in	in	ADP
fueconorg-10857	57	7	one	one	NUM
fueconorg-10857	57	8	study	study	NOUN
fueconorg-10857	57	9	,	,	PUNCT
fueconorg-10857	57	10	the	the	DET
fueconorg-10857	57	11	author	author	NOUN
fueconorg-10857	57	12	employed	employ	VERB
fueconorg-10857	57	13	the	the	DET
fueconorg-10857	57	14	capital	capital	NOUN
fueconorg-10857	57	15	asset	asset	NOUN
fueconorg-10857	57	16	pricing	pricing	NOUN
fueconorg-10857	57	17	model	model	NOUN
fueconorg-10857	57	18	approach	approach	NOUN
fueconorg-10857	57	19	of	of	ADP
fueconorg-10857	57	20	financial	financial	ADJ
fueconorg-10857	57	21	asset	asset	NOUN
fueconorg-10857	57	22	evaluation	evaluation	NOUN
fueconorg-10857	57	23	to	to	PART
fueconorg-10857	57	24	estimate	estimate	VERB
fueconorg-10857	57	25	future	future	ADJ
fueconorg-10857	57	26	yields	yield	NOUN
fueconorg-10857	57	27	on	on	ADP
fueconorg-10857	57	28	both	both	CCONJ
fueconorg-10857	57	29	the	the	DET
fueconorg-10857	57	30	titles	title	NOUN
fueconorg-10857	57	31	in	in	ADP
fueconorg-10857	57	32	the	the	DET
fueconorg-10857	57	33	portfolio	portfolio	NOUN
fueconorg-10857	57	34	and	and	CCONJ
fueconorg-10857	57	35	the	the	DET
fueconorg-10857	57	36	return	return	NOUN
fueconorg-10857	57	37	on	on	ADP
fueconorg-10857	57	38	the	the	DET
fueconorg-10857	57	39	portfolio	portfolio	NOUN
fueconorg-10857	57	40	.	.	PUNCT
fueconorg-10857	58	1	they	they	PRON
fueconorg-10857	58	2	discovered	discover	VERB
fueconorg-10857	58	3	an	an	DET
fueconorg-10857	58	4	increase	increase	NOUN
fueconorg-10857	58	5	in	in	ADP
fueconorg-10857	58	6	both	both	CCONJ
fueconorg-10857	58	7	the	the	DET
fueconorg-10857	58	8	beta	beta	NOUN
fueconorg-10857	58	9	and	and	CCONJ
fueconorg-10857	58	10	the	the	DET
fueconorg-10857	58	11	coefficient	coefficient	NOUN
fueconorg-10857	58	12	of	of	ADP
fueconorg-10857	58	13	market	market	NOUN
fueconorg-10857	58	14	risk	risk	NOUN
fueconorg-10857	58	15	,	,	PUNCT
fueconorg-10857	58	16	with	with	ADP
fueconorg-10857	58	17	the	the	DET
fueconorg-10857	58	18	latter	latter	ADJ
fueconorg-10857	58	19	being	be	AUX
fueconorg-10857	58	20	substantially	substantially	ADV
fueconorg-10857	58	21	connected	connect	VERB
fueconorg-10857	58	22	with	with	ADP
fueconorg-10857	58	23	capital	capital	NOUN
fueconorg-10857	58	24	market	market	NOUN
fueconorg-10857	58	25	development	development	NOUN
fueconorg-10857	58	26	.	.	PUNCT
fueconorg-10857	59	1	(	(	PUNCT
fueconorg-10857	59	2	anghel	anghel	PROPN
fueconorg-10857	59	3	&	&	CCONJ
fueconorg-10857	59	4	paschia	paschia	PROPN
fueconorg-10857	59	5	,	,	PUNCT
fueconorg-10857	59	6	2013	2013	NUM
fueconorg-10857	59	7	,	,	PUNCT
fueconorg-10857	59	8	p.	p.	NOUN
fueconorg-10857	59	9	541	541	NUM
fueconorg-10857	59	10	)	)	PUNCT
fueconorg-10857	59	11	.	.	PUNCT
fueconorg-10857	60	1	also	also	ADV
fueconorg-10857	60	2	according	accord	VERB
fueconorg-10857	60	3	to	to	ADP
fueconorg-10857	60	4	baltes	balte	NOUN
fueconorg-10857	60	5	,	,	PUNCT
fueconorg-10857	60	6	dragoe	dragoe	PROPN
fueconorg-10857	60	7	&	&	CCONJ
fueconorg-10857	60	8	ardelean	ardelean	PROPN
fueconorg-10857	60	9	(	(	PUNCT
fueconorg-10857	60	10	2014	2014	NUM
fueconorg-10857	60	11	)	)	PUNCT
fueconorg-10857	60	12	,	,	PUNCT
fueconorg-10857	60	13	the	the	DET
fueconorg-10857	60	14	c.a.p.m	c.a.p.m	PROPN
fueconorg-10857	60	15	.	.	PUNCT
fueconorg-10857	60	16	model	model	PROPN
fueconorg-10857	60	17	continues	continue	VERB
fueconorg-10857	60	18	to	to	PART
fueconorg-10857	60	19	be	be	AUX
fueconorg-10857	60	20	the	the	DET
fueconorg-10857	60	21	most	most	ADV
fueconorg-10857	60	22	often	often	ADV
fueconorg-10857	60	23	utilized	utilize	VERB
fueconorg-10857	60	24	one	one	NUM
fueconorg-10857	60	25	for	for	ADP
fueconorg-10857	60	26	both	both	PRON
fueconorg-10857	60	27	portfolio	portfolio	NOUN
fueconorg-10857	60	28	selection	selection	NOUN
fueconorg-10857	60	29	and	and	CCONJ
fueconorg-10857	60	30	company	company	NOUN
fueconorg-10857	60	31	evaluation	evaluation	NOUN
fueconorg-10857	60	32	,	,	PUNCT
fueconorg-10857	60	33	particularly	particularly	ADV
fueconorg-10857	60	34	those	those	DET
fueconorg-10857	60	35	aspects	aspect	NOUN
fueconorg-10857	60	36	linked	link	VERB
fueconorg-10857	60	37	to	to	ADP
fueconorg-10857	60	38	the	the	DET
fueconorg-10857	60	39	beta	beta	ADJ
fueconorg-10857	60	40	coefficient	coefficient	NOUN
fueconorg-10857	60	41	variability	variability	NOUN
fueconorg-10857	60	42	over	over	ADP
fueconorg-10857	60	43	time	time	NOUN
fueconorg-10857	60	44	and	and	CCONJ
fueconorg-10857	60	45	the	the	DET
fueconorg-10857	60	46	potential	potential	NOUN
fueconorg-10857	60	47	for	for	ADP
fueconorg-10857	60	48	mere	mere	ADJ
fueconorg-10857	60	49	approximation	approximation	NOUN
fueconorg-10857	60	50	.	.	PUNCT
fueconorg-10857	61	1	focusing	focus	VERB
fueconorg-10857	61	2	on	on	ADP
fueconorg-10857	61	3	the	the	DET
fueconorg-10857	61	4	applicability	applicability	NOUN
fueconorg-10857	61	5	of	of	ADP
fueconorg-10857	61	6	the	the	DET
fueconorg-10857	61	7	capm	capm	PROPN
fueconorg-10857	61	8	model	model	NOUN
fueconorg-10857	61	9	in	in	ADP
fueconorg-10857	61	10	similar	similar	ADJ
fueconorg-10857	61	11	financial	financial	ADJ
fueconorg-10857	61	12	markets	market	NOUN
fueconorg-10857	61	13	as	as	ADP
fueconorg-10857	61	14	the	the	DET
fueconorg-10857	61	15	market	market	NOUN
fueconorg-10857	61	16	of	of	ADP
fueconorg-10857	61	17	the	the	DET
fueconorg-10857	61	18	republic	republic	NOUN
fueconorg-10857	61	19	of	of	ADP
fueconorg-10857	61	20	serbia	serbia	PROPN
fueconorg-10857	61	21	,	,	PUNCT
fueconorg-10857	61	22	we	we	PRON
fueconorg-10857	61	23	can	can	AUX
fueconorg-10857	61	24	see	see	VERB
fueconorg-10857	61	25	the	the	DET
fueconorg-10857	61	26	following	following	NOUN
fueconorg-10857	61	27	:	:	PUNCT
fueconorg-10857	61	28	using	use	VERB
fueconorg-10857	61	29	monthly	monthly	ADJ
fueconorg-10857	61	30	stock	stock	NOUN
fueconorg-10857	61	31	returns	return	NOUN
fueconorg-10857	61	32	from	from	ADP
fueconorg-10857	61	33	nine	nine	NUM
fueconorg-10857	61	34	countries	country	NOUN
fueconorg-10857	61	35	,	,	PUNCT
fueconorg-10857	61	36	spanning	span	VERB
fueconorg-10857	61	37	the	the	DET
fueconorg-10857	61	38	period	period	NOUN
fueconorg-10857	61	39	from	from	ADP
fueconorg-10857	61	40	january	january	PROPN
fueconorg-10857	61	41	2006	2006	NUM
fueconorg-10857	61	42	to	to	ADP
fueconorg-10857	61	43	december	december	PROPN
fueconorg-10857	61	44	2010	2010	NUM
fueconorg-10857	61	45	,	,	PUNCT
fueconorg-10857	61	46	one	one	NUM
fueconorg-10857	61	47	of	of	ADP
fueconorg-10857	61	48	the	the	DET
fueconorg-10857	61	49	research	research	NOUN
fueconorg-10857	61	50	articles	article	NOUN
fueconorg-10857	61	51	looked	look	VERB
fueconorg-10857	61	52	at	at	ADP
fueconorg-10857	61	53	whether	whether	SCONJ
fueconorg-10857	61	54	the	the	DET
fueconorg-10857	61	55	model	model	NOUN
fueconorg-10857	61	56	is	be	AUX
fueconorg-10857	61	57	adequate	adequate	ADJ
fueconorg-10857	61	58	for	for	ADP
fueconorg-10857	61	59	capital	capital	NOUN
fueconorg-10857	61	60	asset	asset	NOUN
fueconorg-10857	61	61	assessment	assessment	NOUN
fueconorg-10857	61	62	in	in	ADP
fueconorg-10857	61	63	the	the	DET
fueconorg-10857	61	64	central	central	ADJ
fueconorg-10857	61	65	and	and	CCONJ
fueconorg-10857	61	66	south	south	ADJ
fueconorg-10857	61	67	-	-	PUNCT
fueconorg-10857	61	68	east	east	NOUN
fueconorg-10857	61	69	european	european	ADJ
fueconorg-10857	61	70	emerging	emerge	VERB
fueconorg-10857	61	71	securities	security	NOUN
fueconorg-10857	61	72	markets	market	NOUN
fueconorg-10857	61	73	.	.	PUNCT
fueconorg-10857	62	1	it	it	PRON
fueconorg-10857	62	2	was	be	AUX
fueconorg-10857	62	3	determined	determine	VERB
fueconorg-10857	62	4	that	that	SCONJ
fueconorg-10857	62	5	the	the	DET
fueconorg-10857	62	6	capm	capm	PROPN
fueconorg-10857	62	7	model	model	NOUN
fueconorg-10857	62	8	is	be	AUX
fueconorg-10857	62	9	not	not	PART
fueconorg-10857	62	10	appropriate	appropriate	ADJ
fueconorg-10857	62	11	for	for	ADP
fueconorg-10857	62	12	appraising	appraise	VERB
fueconorg-10857	62	13	capital	capital	NOUN
fueconorg-10857	62	14	assets	asset	NOUN
fueconorg-10857	62	15	in	in	ADP
fueconorg-10857	62	16	the	the	DET
fueconorg-10857	62	17	central	central	ADJ
fueconorg-10857	62	18	and	and	CCONJ
fueconorg-10857	62	19	southeastern	southeastern	ADJ
fueconorg-10857	62	20	european	european	ADJ
fueconorg-10857	62	21	emerging	emerge	VERB
fueconorg-10857	62	22	economies	economy	NOUN
fueconorg-10857	62	23	,	,	PUNCT
fueconorg-10857	62	24	according	accord	VERB
fueconorg-10857	62	25	to	to	ADP
fueconorg-10857	62	26	a	a	DET
fueconorg-10857	62	27	cross	cross	ADJ
fueconorg-10857	62	28	-	-	ADJ
fueconorg-10857	62	29	sectional	sectional	ADJ
fueconorg-10857	62	30	study	study	NOUN
fueconorg-10857	62	31	of	of	ADP
fueconorg-10857	62	32	the	the	DET
fueconorg-10857	62	33	test	test	NOUN
fueconorg-10857	62	34	data	datum	NOUN
fueconorg-10857	62	35	.	.	PUNCT
fueconorg-10857	63	1	it	it	PRON
fueconorg-10857	63	2	was	be	AUX
fueconorg-10857	63	3	discovered	discover	VERB
fueconorg-10857	63	4	that	that	SCONJ
fueconorg-10857	63	5	stock	stock	NOUN
fueconorg-10857	63	6	market	market	NOUN
fueconorg-10857	63	7	indices	index	NOUN
fueconorg-10857	63	8	do	do	AUX
fueconorg-10857	63	9	not	not	PART
fueconorg-10857	63	10	lie	lie	VERB
fueconorg-10857	63	11	on	on	ADP
fueconorg-10857	63	12	the	the	DET
fueconorg-10857	63	13	efficient	efficient	ADJ
fueconorg-10857	63	14	frontier	frontier	NOUN
fueconorg-10857	63	15	,	,	PUNCT
fueconorg-10857	63	16	do	do	AUX
fueconorg-10857	63	17	not	not	PART
fueconorg-10857	63	18	reflect	reflect	VERB
fueconorg-10857	63	19	an	an	DET
fueconorg-10857	63	20	efficient	efficient	ADJ
fueconorg-10857	63	21	portfolio	portfolio	NOUN
fueconorg-10857	63	22	,	,	PUNCT
fueconorg-10857	63	23	and	and	CCONJ
fueconorg-10857	63	24	thus	thus	ADV
fueconorg-10857	63	25	can	can	AUX
fueconorg-10857	63	26	not	not	PART
fueconorg-10857	63	27	be	be	AUX
fueconorg-10857	63	28	considered	consider	VERB
fueconorg-10857	63	29	a	a	DET
fueconorg-10857	63	30	market	market	NOUN
fueconorg-10857	63	31	portfolio	portfolio	NOUN
fueconorg-10857	63	32	of	of	ADP
fueconorg-10857	63	33	186	186	NUM
fueconorg-10857	63	34	m.	m.	NOUN
fueconorg-10857	63	35	đaković	đaković	NOUN
fueconorg-10857	63	36	,	,	PUNCT
fueconorg-10857	63	37	j.	j.	PROPN
fueconorg-10857	63	38	andrašić	andrašić	PROPN
fueconorg-10857	63	39	,	,	PUNCT
fueconorg-10857	63	40	d.	d.	PROPN
fueconorg-10857	63	41	cicmil	cicmil	PROPN
fueconorg-10857	63	42	models	model	NOUN
fueconorg-10857	63	43	,	,	PUNCT
fueconorg-10857	63	44	as	as	SCONJ
fueconorg-10857	63	45	was	be	AUX
fueconorg-10857	63	46	previously	previously	ADV
fueconorg-10857	63	47	supposed	suppose	VERB
fueconorg-10857	63	48	(	(	PUNCT
fueconorg-10857	63	49	džaja	džaja	NOUN
fueconorg-10857	63	50	&	&	CCONJ
fueconorg-10857	63	51	alijanović	alijanović	PROPN
fueconorg-10857	63	52	,	,	PUNCT
fueconorg-10857	63	53	2013	2013	NUM
fueconorg-10857	63	54	,	,	PUNCT
fueconorg-10857	63	55	p.	p.	NOUN
fueconorg-10857	63	56	164	164	NUM
fueconorg-10857	63	57	-	-	SYM
fueconorg-10857	63	58	175	175	NUM
fueconorg-10857	63	59	)	)	PUNCT
fueconorg-10857	63	60	.	.	PUNCT
fueconorg-10857	64	1	therefore	therefore	ADV
fueconorg-10857	64	2	we	we	PRON
fueconorg-10857	64	3	can	can	AUX
fueconorg-10857	64	4	see	see	VERB
fueconorg-10857	64	5	the	the	DET
fueconorg-10857	64	6	use	use	NOUN
fueconorg-10857	64	7	of	of	ADP
fueconorg-10857	64	8	other	other	ADJ
fueconorg-10857	64	9	predictive	predictive	ADJ
fueconorg-10857	64	10	models	model	NOUN
fueconorg-10857	64	11	in	in	ADP
fueconorg-10857	64	12	addition	addition	NOUN
fueconorg-10857	64	13	to	to	ADP
fueconorg-10857	64	14	the	the	DET
fueconorg-10857	64	15	capm	capm	PROPN
fueconorg-10857	64	16	model	model	NOUN
fueconorg-10857	64	17	.	.	PUNCT
fueconorg-10857	65	1	according	accord	VERB
fueconorg-10857	65	2	to	to	ADP
fueconorg-10857	65	3	research	research	NOUN
fueconorg-10857	65	4	,	,	PUNCT
fueconorg-10857	65	5	variations	variation	NOUN
fueconorg-10857	65	6	in	in	ADP
fueconorg-10857	65	7	stock	stock	NOUN
fueconorg-10857	65	8	prices	price	NOUN
fueconorg-10857	65	9	on	on	ADP
fueconorg-10857	65	10	the	the	DET
fueconorg-10857	65	11	croatian	croatian	ADJ
fueconorg-10857	65	12	capital	capital	NOUN
fueconorg-10857	65	13	market	market	NOUN
fueconorg-10857	65	14	indicate	indicate	VERB
fueconorg-10857	65	15	that	that	SCONJ
fueconorg-10857	65	16	certain	certain	ADJ
fueconorg-10857	65	17	undiscovered	undiscovered	ADJ
fueconorg-10857	65	18	elements	element	NOUN
fueconorg-10857	65	19	influence	influence	NOUN
fueconorg-10857	65	20	share	share	NOUN
fueconorg-10857	65	21	valuation	valuation	NOUN
fueconorg-10857	65	22	.	.	PUNCT
fueconorg-10857	66	1	it	it	PRON
fueconorg-10857	66	2	was	be	AUX
fueconorg-10857	66	3	found	find	VERB
fueconorg-10857	66	4	that	that	SCONJ
fueconorg-10857	66	5	the	the	DET
fueconorg-10857	66	6	fundamental	fundamental	ADJ
fueconorg-10857	66	7	analysis	analysis	NOUN
fueconorg-10857	66	8	of	of	ADP
fueconorg-10857	66	9	shares	share	NOUN
fueconorg-10857	66	10	is	be	AUX
fueconorg-10857	66	11	insufficient	insufficient	ADJ
fueconorg-10857	66	12	for	for	ADP
fueconorg-10857	66	13	determining	determine	VERB
fueconorg-10857	66	14	the	the	DET
fueconorg-10857	66	15	true	true	ADJ
fueconorg-10857	66	16	value	value	NOUN
fueconorg-10857	66	17	of	of	ADP
fueconorg-10857	66	18	a	a	DET
fueconorg-10857	66	19	share	share	NOUN
fueconorg-10857	66	20	in	in	ADP
fueconorg-10857	66	21	light	light	NOUN
fueconorg-10857	66	22	of	of	ADP
fueconorg-10857	66	23	different	different	ADJ
fueconorg-10857	66	24	invisible	invisible	ADJ
fueconorg-10857	66	25	variables	variable	NOUN
fueconorg-10857	66	26	and	and	CCONJ
fueconorg-10857	66	27	all	all	DET
fueconorg-10857	66	28	available	available	ADJ
fueconorg-10857	66	29	information	information	NOUN
fueconorg-10857	66	30	that	that	PRON
fueconorg-10857	66	31	affects	affect	VERB
fueconorg-10857	66	32	its	its	PRON
fueconorg-10857	66	33	value	value	NOUN
fueconorg-10857	66	34	(	(	PUNCT
fueconorg-10857	66	35	odobašić	odobašić	ADV
fueconorg-10857	66	36	,	,	PUNCT
fueconorg-10857	66	37	tolušić	tolušić	PROPN
fueconorg-10857	66	38	&	&	CCONJ
fueconorg-10857	66	39	tolušić	tolušić	PROPN
fueconorg-10857	66	40	,	,	PUNCT
fueconorg-10857	66	41	2014	2014	NUM
fueconorg-10857	66	42	,	,	PUNCT
fueconorg-10857	66	43	p.	p.	NOUN
fueconorg-10857	66	44	297	297	NUM
fueconorg-10857	66	45	-	-	SYM
fueconorg-10857	66	46	311	311	NUM
fueconorg-10857	66	47	)	)	PUNCT
fueconorg-10857	66	48	.	.	PUNCT
fueconorg-10857	67	1	the	the	DET
fueconorg-10857	67	2	extension	extension	NOUN
fueconorg-10857	67	3	of	of	ADP
fueconorg-10857	67	4	the	the	DET
fueconorg-10857	67	5	capm	capm	PROPN
fueconorg-10857	67	6	model	model	NOUN
fueconorg-10857	67	7	is	be	AUX
fueconorg-10857	67	8	precisely	precisely	ADV
fueconorg-10857	67	9	apt	apt	ADJ
fueconorg-10857	67	10	(	(	PUNCT
fueconorg-10857	67	11	arbitrage	arbitrage	NOUN
fueconorg-10857	67	12	pricing	pricing	NOUN
fueconorg-10857	67	13	theory	theory	NOUN
fueconorg-10857	67	14	)	)	PUNCT
fueconorg-10857	67	15	which	which	PRON
fueconorg-10857	67	16	includes	include	VERB
fueconorg-10857	67	17	much	much	ADV
fueconorg-10857	67	18	larger	large	ADJ
fueconorg-10857	67	19	macroeconomic	macroeconomic	ADJ
fueconorg-10857	67	20	predictable	predictable	ADJ
fueconorg-10857	67	21	variables	variable	NOUN
fueconorg-10857	67	22	compared	compare	VERB
fueconorg-10857	67	23	to	to	ADP
fueconorg-10857	67	24	the	the	DET
fueconorg-10857	67	25	capm	capm	PROPN
fueconorg-10857	67	26	model	model	NOUN
fueconorg-10857	67	27	.	.	PUNCT
fueconorg-10857	68	1	the	the	DET
fueconorg-10857	68	2	key	key	ADJ
fueconorg-10857	68	3	difference	difference	NOUN
fueconorg-10857	68	4	is	be	AUX
fueconorg-10857	68	5	that	that	SCONJ
fueconorg-10857	68	6	apt	apt	ADJ
fueconorg-10857	68	7	takes	take	VERB
fueconorg-10857	68	8	many	many	ADJ
fueconorg-10857	68	9	more	more	ADJ
fueconorg-10857	68	10	components	component	NOUN
fueconorg-10857	68	11	in	in	ADP
fueconorg-10857	68	12	its	its	PRON
fueconorg-10857	68	13	model	model	NOUN
fueconorg-10857	68	14	instead	instead	ADV
fueconorg-10857	68	15	.	.	PUNCT
fueconorg-10857	69	1	its	its	PRON
fueconorg-10857	69	2	primary	primary	ADJ
fueconorg-10857	69	3	limitation	limitation	NOUN
fueconorg-10857	69	4	is	be	AUX
fueconorg-10857	69	5	the	the	DET
fueconorg-10857	69	6	precise	precise	ADJ
fueconorg-10857	69	7	measurement	measurement	NOUN
fueconorg-10857	69	8	of	of	ADP
fueconorg-10857	69	9	the	the	DET
fueconorg-10857	69	10	values	value	NOUN
fueconorg-10857	69	11	of	of	ADP
fueconorg-10857	69	12	all	all	DET
fueconorg-10857	69	13	its	its	PRON
fueconorg-10857	69	14	variables	variable	NOUN
fueconorg-10857	69	15	.	.	PUNCT
fueconorg-10857	70	1	in	in	ADP
fueconorg-10857	70	2	the	the	DET
fueconorg-10857	70	3	period	period	NOUN
fueconorg-10857	70	4	2008	2008	NUM
fueconorg-10857	70	5	-	-	SYM
fueconorg-10857	70	6	2010	2010	NUM
fueconorg-10857	70	7	,	,	PUNCT
fueconorg-10857	70	8	kisman	kisman	NOUN
fueconorg-10857	70	9	and	and	CCONJ
fueconorg-10857	70	10	restiyanita	restiyanita	PROPN
fueconorg-10857	70	11	investigated	investigate	VERB
fueconorg-10857	70	12	whether	whether	SCONJ
fueconorg-10857	70	13	there	there	PRON
fueconorg-10857	70	14	was	be	VERB
fueconorg-10857	70	15	an	an	DET
fueconorg-10857	70	16	effect	effect	NOUN
fueconorg-10857	70	17	of	of	ADP
fueconorg-10857	70	18	market	market	NOUN
fueconorg-10857	70	19	excess	excess	ADJ
fueconorg-10857	70	20	return	return	NOUN
fueconorg-10857	70	21	on	on	ADP
fueconorg-10857	70	22	lq45	lq45	PROPN
fueconorg-10857	70	23	company	company	NOUN
fueconorg-10857	70	24	stock	stock	NOUN
fueconorg-10857	70	25	returns	return	NOUN
fueconorg-10857	70	26	(	(	PUNCT
fueconorg-10857	70	27	using	use	VERB
fueconorg-10857	70	28	the	the	DET
fueconorg-10857	70	29	capm	capm	PROPN
fueconorg-10857	70	30	model	model	NOUN
fueconorg-10857	70	31	)	)	PUNCT
fueconorg-10857	70	32	,	,	PUNCT
fueconorg-10857	70	33	as	as	ADV
fueconorg-10857	70	34	well	well	ADV
fueconorg-10857	70	35	as	as	ADP
fueconorg-10857	70	36	whether	whether	SCONJ
fueconorg-10857	70	37	there	there	PRON
fueconorg-10857	70	38	was	be	VERB
fueconorg-10857	70	39	an	an	DET
fueconorg-10857	70	40	effect	effect	NOUN
fueconorg-10857	70	41	of	of	ADP
fueconorg-10857	70	42	variable	variable	ADJ
fueconorg-10857	70	43	/	/	SYM
fueconorg-10857	70	44	factor	factor	NOUN
fueconorg-10857	70	45	(	(	PUNCT
fueconorg-10857	70	46	such	such	ADJ
fueconorg-10857	70	47	as	as	ADP
fueconorg-10857	70	48	gross	gross	ADJ
fueconorg-10857	70	49	domestic	domestic	ADJ
fueconorg-10857	70	50	product	product	NOUN
fueconorg-10857	70	51	and	and	CCONJ
fueconorg-10857	70	52	interest	interest	NOUN
fueconorg-10857	70	53	rates	rate	NOUN
fueconorg-10857	70	54	)	)	PUNCT
fueconorg-10857	70	55	arbitrage	arbitrage	NOUN
fueconorg-10857	70	56	pricing	pricing	NOUN
fueconorg-10857	70	57	model	model	NOUN
fueconorg-10857	70	58	(	(	PUNCT
fueconorg-10857	70	59	apt	apt	ADJ
fueconorg-10857	70	60	)	)	PUNCT
fueconorg-10857	70	61	on	on	ADP
fueconorg-10857	70	62	stock	stock	NOUN
fueconorg-10857	70	63	returns	return	NOUN
fueconorg-10857	70	64	.	.	PUNCT
fueconorg-10857	71	1	the	the	DET
fueconorg-10857	71	2	findings	finding	NOUN
fueconorg-10857	71	3	of	of	ADP
fueconorg-10857	71	4	multiple	multiple	ADJ
fueconorg-10857	71	5	regression	regression	NOUN
fueconorg-10857	71	6	demonstrated	demonstrate	VERB
fueconorg-10857	71	7	that	that	SCONJ
fueconorg-10857	71	8	capm	capm	PROPN
fueconorg-10857	71	9	and	and	CCONJ
fueconorg-10857	71	10	apt	apt	ADJ
fueconorg-10857	71	11	are	be	AUX
fueconorg-10857	71	12	highly	highly	ADV
fueconorg-10857	71	13	significant	significant	ADJ
fueconorg-10857	71	14	,	,	PUNCT
fueconorg-10857	71	15	as	as	SCONJ
fueconorg-10857	71	16	evidenced	evidence	VERB
fueconorg-10857	71	17	by	by	ADP
fueconorg-10857	71	18	the	the	DET
fueconorg-10857	71	19	t	t	PROPN
fueconorg-10857	71	20	-	-	PUNCT
fueconorg-10857	71	21	test	test	NOUN
fueconorg-10857	71	22	and	and	CCONJ
fueconorg-10857	71	23	f	f	X
fueconorg-10857	71	24	-	-	PUNCT
fueconorg-10857	71	25	test	test	NOUN
fueconorg-10857	71	26	results	result	NOUN
fueconorg-10857	71	27	.	.	PUNCT
fueconorg-10857	72	1	apt	apt	ADJ
fueconorg-10857	72	2	model	model	NOUN
fueconorg-10857	72	3	outperformed	outperform	VERB
fueconorg-10857	72	4	the	the	DET
fueconorg-10857	72	5	capm	capm	PROPN
fueconorg-10857	72	6	model	model	NOUN
fueconorg-10857	72	7	in	in	ADP
fueconorg-10857	72	8	predicting	predict	VERB
fueconorg-10857	72	9	stock	stock	NOUN
fueconorg-10857	72	10	returns	return	NOUN
fueconorg-10857	72	11	based	base	VERB
fueconorg-10857	72	12	on	on	ADP
fueconorg-10857	72	13	the	the	DET
fueconorg-10857	72	14	coefficient	coefficient	NOUN
fueconorg-10857	72	15	of	of	ADP
fueconorg-10857	72	16	determination	determination	NOUN
fueconorg-10857	72	17	.	.	PUNCT
fueconorg-10857	73	1	the	the	DET
fueconorg-10857	73	2	model	model	NOUN
fueconorg-10857	73	3	's	's	PART
fueconorg-10857	73	4	drawback	drawback	NOUN
fueconorg-10857	73	5	is	be	AUX
fueconorg-10857	73	6	that	that	SCONJ
fueconorg-10857	73	7	it	it	PRON
fueconorg-10857	73	8	is	be	AUX
fueconorg-10857	73	9	dependent	dependent	ADJ
fueconorg-10857	73	10	on	on	ADP
fueconorg-10857	73	11	whether	whether	SCONJ
fueconorg-10857	73	12	or	or	CCONJ
fueconorg-10857	73	13	not	not	PART
fueconorg-10857	73	14	the	the	DET
fueconorg-10857	73	15	capital	capital	NOUN
fueconorg-10857	73	16	market	market	NOUN
fueconorg-10857	73	17	is	be	AUX
fueconorg-10857	73	18	efficient	efficient	ADJ
fueconorg-10857	73	19	(	(	PUNCT
fueconorg-10857	73	20	kisman	kisman	PROPN
fueconorg-10857	73	21	&	&	CCONJ
fueconorg-10857	73	22	restiyanita	restiyanita	PROPN
fueconorg-10857	73	23	,	,	PUNCT
fueconorg-10857	73	24	2015	2015	NUM
fueconorg-10857	73	25	,	,	PUNCT
fueconorg-10857	74	1	p.	p.	NOUN
fueconorg-10857	74	2	184	184	NUM
fueconorg-10857	74	3	-	-	SYM
fueconorg-10857	74	4	189	189	NUM
fueconorg-10857	74	5	)	)	PUNCT
fueconorg-10857	74	6	.	.	PUNCT
fueconorg-10857	75	1	some	some	DET
fueconorg-10857	75	2	studies	study	NOUN
fueconorg-10857	75	3	favor	favor	VERB
fueconorg-10857	75	4	the	the	DET
fueconorg-10857	75	5	arbitrage	arbitrage	NOUN
fueconorg-10857	75	6	model	model	NOUN
fueconorg-10857	75	7	while	while	SCONJ
fueconorg-10857	75	8	on	on	ADP
fueconorg-10857	75	9	the	the	DET
fueconorg-10857	75	10	other	other	ADJ
fueconorg-10857	75	11	hand	hand	NOUN
fueconorg-10857	75	12	there	there	PRON
fueconorg-10857	75	13	are	be	VERB
fueconorg-10857	75	14	studies	study	NOUN
fueconorg-10857	75	15	that	that	PRON
fueconorg-10857	75	16	support	support	VERB
fueconorg-10857	75	17	the	the	DET
fueconorg-10857	75	18	capm	capm	PROPN
fueconorg-10857	75	19	model	model	NOUN
fueconorg-10857	75	20	.	.	PUNCT
fueconorg-10857	76	1	one	one	NUM
fueconorg-10857	76	2	of	of	ADP
fueconorg-10857	76	3	the	the	DET
fueconorg-10857	76	4	examples	example	NOUN
fueconorg-10857	76	5	of	of	ADP
fueconorg-10857	76	6	support	support	NOUN
fueconorg-10857	76	7	for	for	ADP
fueconorg-10857	76	8	the	the	DET
fueconorg-10857	76	9	apt	apt	ADJ
fueconorg-10857	76	10	model	model	NOUN
fueconorg-10857	76	11	is	be	AUX
fueconorg-10857	76	12	the	the	DET
fueconorg-10857	76	13	findings	finding	NOUN
fueconorg-10857	76	14	of	of	ADP
fueconorg-10857	76	15	kisman	kisman	PROPN
fueconorg-10857	76	16	&	&	CCONJ
fueconorg-10857	76	17	restiyanita	restiyanita	PROPN
fueconorg-10857	76	18	(	(	PUNCT
fueconorg-10857	76	19	2015	2015	NUM
fueconorg-10857	76	20	)	)	PUNCT
fueconorg-10857	76	21	,	,	PUNCT
fueconorg-10857	76	22	who	who	PRON
fueconorg-10857	76	23	claim	claim	VERB
fueconorg-10857	76	24	that	that	SCONJ
fueconorg-10857	76	25	the	the	DET
fueconorg-10857	76	26	coefficient	coefficient	NOUN
fueconorg-10857	76	27	of	of	ADP
fueconorg-10857	76	28	apt	apt	ADJ
fueconorg-10857	76	29	is	be	AUX
fueconorg-10857	76	30	more	more	ADV
fueconorg-10857	76	31	accurate	accurate	ADJ
fueconorg-10857	76	32	than	than	ADP
fueconorg-10857	76	33	capm	capm	NOUN
fueconorg-10857	76	34	at	at	ADP
fueconorg-10857	76	35	forecasting	forecast	VERB
fueconorg-10857	76	36	stock	stock	NOUN
fueconorg-10857	76	37	returns	return	NOUN
fueconorg-10857	76	38	.	.	PUNCT
fueconorg-10857	77	1	on	on	ADP
fueconorg-10857	77	2	the	the	DET
fueconorg-10857	77	3	other	other	ADJ
fueconorg-10857	77	4	hand	hand	NOUN
fueconorg-10857	77	5	,	,	PUNCT
fueconorg-10857	77	6	the	the	DET
fueconorg-10857	77	7	suroso	suroso	NOUN
fueconorg-10857	77	8	et	et	NOUN
fueconorg-10857	77	9	.	.	PUNCT
fueconorg-10857	78	1	al	al	PROPN
fueconorg-10857	78	2	(	(	PUNCT
fueconorg-10857	78	3	2018	2018	NUM
fueconorg-10857	78	4	)	)	PUNCT
fueconorg-10857	78	5	study	study	NOUN
fueconorg-10857	78	6	states	state	NOUN
fueconorg-10857	78	7	,	,	PUNCT
fueconorg-10857	78	8	analyzing	analyze	VERB
fueconorg-10857	78	9	the	the	DET
fueconorg-10857	78	10	application	application	NOUN
fueconorg-10857	78	11	of	of	ADP
fueconorg-10857	78	12	the	the	DET
fueconorg-10857	78	13	model	model	NOUN
fueconorg-10857	78	14	to	to	ADP
fueconorg-10857	78	15	different	different	ADJ
fueconorg-10857	78	16	periods	period	NOUN
fueconorg-10857	78	17	,	,	PUNCT
fueconorg-10857	78	18	that	that	SCONJ
fueconorg-10857	78	19	the	the	DET
fueconorg-10857	78	20	capm	capm	PROPN
fueconorg-10857	78	21	model	model	NOUN
fueconorg-10857	78	22	is	be	AUX
fueconorg-10857	78	23	a	a	DET
fueconorg-10857	78	24	better	well	ADJ
fueconorg-10857	78	25	predictor	predictor	NOUN
fueconorg-10857	78	26	of	of	ADP
fueconorg-10857	78	27	stock	stock	NOUN
fueconorg-10857	78	28	values	value	NOUN
fueconorg-10857	78	29	in	in	ADP
fueconorg-10857	78	30	the	the	DET
fueconorg-10857	78	31	short	short	ADJ
fueconorg-10857	78	32	,	,	PUNCT
fueconorg-10857	78	33	medium	medium	ADJ
fueconorg-10857	78	34	,	,	PUNCT
fueconorg-10857	78	35	and	and	CCONJ
fueconorg-10857	78	36	long	long	ADJ
fueconorg-10857	78	37	periods	period	NOUN
fueconorg-10857	78	38	than	than	ADP
fueconorg-10857	78	39	the	the	DET
fueconorg-10857	78	40	apt	apt	ADJ
fueconorg-10857	78	41	model	model	NOUN
fueconorg-10857	78	42	.	.	PUNCT
fueconorg-10857	79	1	also	also	ADV
fueconorg-10857	79	2	in	in	ADP
fueconorg-10857	79	3	the	the	DET
fueconorg-10857	79	4	study	study	NOUN
fueconorg-10857	79	5	by	by	ADP
fueconorg-10857	79	6	french	french	ADJ
fueconorg-10857	79	7	(	(	PUNCT
fueconorg-10857	79	8	2017	2017	NUM
fueconorg-10857	79	9	)	)	PUNCT
fueconorg-10857	79	10	,	,	PUNCT
fueconorg-10857	79	11	researching	research	VERB
fueconorg-10857	79	12	the	the	DET
fueconorg-10857	79	13	effects	effect	NOUN
fueconorg-10857	79	14	of	of	ADP
fueconorg-10857	79	15	macroeconomic	macroeconomic	ADJ
fueconorg-10857	79	16	variables	variable	NOUN
fueconorg-10857	79	17	on	on	ADP
fueconorg-10857	79	18	the	the	DET
fueconorg-10857	79	19	stock	stock	NOUN
fueconorg-10857	79	20	returns	return	NOUN
fueconorg-10857	79	21	of	of	ADP
fueconorg-10857	79	22	stock	stock	NOUN
fueconorg-10857	79	23	markets	market	NOUN
fueconorg-10857	79	24	of	of	ADP
fueconorg-10857	79	25	singapore	singapore	PROPN
fueconorg-10857	79	26	,	,	PUNCT
fueconorg-10857	79	27	thailand	thailand	PROPN
fueconorg-10857	79	28	,	,	PUNCT
fueconorg-10857	79	29	indonesia	indonesia	PROPN
fueconorg-10857	79	30	,	,	PUNCT
fueconorg-10857	79	31	malaysia	malaysia	PROPN
fueconorg-10857	79	32	,	,	PUNCT
fueconorg-10857	79	33	and	and	CCONJ
fueconorg-10857	79	34	the	the	DET
fueconorg-10857	79	35	philippines	philippine	NOUN
fueconorg-10857	79	36	,	,	PUNCT
fueconorg-10857	79	37	the	the	DET
fueconorg-10857	79	38	capital	capital	NOUN
fueconorg-10857	79	39	asset	asset	NOUN
fueconorg-10857	79	40	pricing	pricing	NOUN
fueconorg-10857	79	41	model	model	NOUN
fueconorg-10857	79	42	was	be	AUX
fueconorg-10857	79	43	proven	prove	VERB
fueconorg-10857	79	44	to	to	PART
fueconorg-10857	79	45	be	be	AUX
fueconorg-10857	79	46	a	a	DET
fueconorg-10857	79	47	more	more	ADV
fueconorg-10857	79	48	reliable	reliable	ADJ
fueconorg-10857	79	49	pricing	pricing	NOUN
fueconorg-10857	79	50	tool	tool	NOUN
fueconorg-10857	79	51	for	for	ADP
fueconorg-10857	79	52	the	the	DET
fueconorg-10857	79	53	six	six	NUM
fueconorg-10857	79	54	countries	country	NOUN
fueconorg-10857	79	55	studied	study	VERB
fueconorg-10857	79	56	than	than	ADP
fueconorg-10857	79	57	the	the	DET
fueconorg-10857	79	58	arbitrage	arbitrage	NOUN
fueconorg-10857	79	59	pricing	pricing	NOUN
fueconorg-10857	79	60	theory	theory	NOUN
fueconorg-10857	79	61	.	.	PUNCT
fueconorg-10857	80	1	the	the	DET
fueconorg-10857	80	2	main	main	ADJ
fueconorg-10857	80	3	basis	basis	NOUN
fueconorg-10857	80	4	of	of	ADP
fueconorg-10857	80	5	different	different	ADJ
fueconorg-10857	80	6	sites	site	NOUN
fueconorg-10857	80	7	is	be	AUX
fueconorg-10857	80	8	the	the	DET
fueconorg-10857	80	9	analysis	analysis	NOUN
fueconorg-10857	80	10	of	of	ADP
fueconorg-10857	80	11	returns	return	NOUN
fueconorg-10857	80	12	of	of	ADP
fueconorg-10857	80	13	certain	certain	ADJ
fueconorg-10857	80	14	types	type	NOUN
fueconorg-10857	80	15	of	of	ADP
fueconorg-10857	80	16	markets	market	NOUN
fueconorg-10857	80	17	.	.	PUNCT
fueconorg-10857	81	1	kisman	kisman	PROPN
fueconorg-10857	81	2	&	&	CCONJ
fueconorg-10857	81	3	restiyanita	restiyanita	PROPN
fueconorg-10857	81	4	(	(	PUNCT
fueconorg-10857	81	5	2015	2015	NUM
fueconorg-10857	81	6	)	)	PUNCT
fueconorg-10857	81	7	based	base	VERB
fueconorg-10857	81	8	their	their	PRON
fueconorg-10857	81	9	research	research	NOUN
fueconorg-10857	81	10	on	on	ADP
fueconorg-10857	81	11	the	the	DET
fueconorg-10857	81	12	return	return	NOUN
fueconorg-10857	81	13	of	of	ADP
fueconorg-10857	81	14	shares	share	NOUN
fueconorg-10857	81	15	of	of	ADP
fueconorg-10857	81	16	companies	company	NOUN
fueconorg-10857	81	17	listed	list	VERB
fueconorg-10857	81	18	on	on	ADP
fueconorg-10857	81	19	the	the	DET
fueconorg-10857	81	20	indonesian	indonesian	ADJ
fueconorg-10857	81	21	stock	stock	PROPN
fueconorg-10857	81	22	exchange	exchange	PROPN
fueconorg-10857	81	23	,	,	PUNCT
fueconorg-10857	81	24	while	while	SCONJ
fueconorg-10857	81	25	suroso	suroso	PROPN
fueconorg-10857	81	26	et	et	NOUN
fueconorg-10857	81	27	.	.	PUNCT
fueconorg-10857	82	1	al	al	PROPN
fueconorg-10857	82	2	(	(	PUNCT
fueconorg-10857	82	3	2018	2018	NUM
fueconorg-10857	82	4	)	)	PUNCT
fueconorg-10857	82	5	focused	focus	VERB
fueconorg-10857	82	6	more	more	ADV
fueconorg-10857	82	7	on	on	ADP
fueconorg-10857	82	8	the	the	DET
fueconorg-10857	82	9	return	return	NOUN
fueconorg-10857	82	10	of	of	ADP
fueconorg-10857	82	11	banking	banking	NOUN
fueconorg-10857	82	12	stocks	stock	NOUN
fueconorg-10857	82	13	also	also	ADV
fueconorg-10857	82	14	in	in	ADP
fueconorg-10857	82	15	the	the	DET
fueconorg-10857	82	16	indonesian	indonesian	ADJ
fueconorg-10857	82	17	market	market	NOUN
fueconorg-10857	82	18	.	.	PUNCT
fueconorg-10857	83	1	in	in	ADP
fueconorg-10857	83	2	addition	addition	NOUN
fueconorg-10857	83	3	to	to	ADP
fueconorg-10857	83	4	the	the	DET
fueconorg-10857	83	5	previously	previously	ADV
fueconorg-10857	83	6	mentioned	mention	VERB
fueconorg-10857	83	7	research	research	NOUN
fueconorg-10857	83	8	,	,	PUNCT
fueconorg-10857	83	9	there	there	PRON
fueconorg-10857	83	10	are	be	VERB
fueconorg-10857	83	11	other	other	ADJ
fueconorg-10857	83	12	papers	paper	NOUN
fueconorg-10857	83	13	related	relate	VERB
fueconorg-10857	83	14	to	to	ADP
fueconorg-10857	83	15	the	the	DET
fueconorg-10857	83	16	practical	practical	ADJ
fueconorg-10857	83	17	application	application	NOUN
fueconorg-10857	83	18	of	of	ADP
fueconorg-10857	83	19	the	the	DET
fueconorg-10857	83	20	apt	apt	ADJ
fueconorg-10857	83	21	model	model	NOUN
fueconorg-10857	83	22	,	,	PUNCT
fueconorg-10857	83	23	but	but	CCONJ
fueconorg-10857	83	24	in	in	ADP
fueconorg-10857	83	25	this	this	DET
fueconorg-10857	83	26	paper	paper	NOUN
fueconorg-10857	83	27	,	,	PUNCT
fueconorg-10857	83	28	we	we	PRON
fueconorg-10857	83	29	focus	focus	VERB
fueconorg-10857	83	30	on	on	ADP
fueconorg-10857	83	31	the	the	DET
fueconorg-10857	83	32	capm	capm	PROPN
fueconorg-10857	83	33	(	(	PUNCT
fueconorg-10857	83	34	capital	capital	NOUN
fueconorg-10857	83	35	asset	asset	NOUN
fueconorg-10857	83	36	pricing	pricing	NOUN
fueconorg-10857	83	37	model	model	NOUN
fueconorg-10857	83	38	)	)	PUNCT
fueconorg-10857	83	39	.	.	PUNCT
fueconorg-10857	84	1	3	3	X
fueconorg-10857	84	2	.	.	X
fueconorg-10857	84	3	research	research	NOUN
fueconorg-10857	84	4	methodology	methodology	NOUN
fueconorg-10857	84	5	this	this	DET
fueconorg-10857	84	6	research	research	NOUN
fueconorg-10857	84	7	paper	paper	NOUN
fueconorg-10857	84	8	consists	consist	VERB
fueconorg-10857	84	9	of	of	ADP
fueconorg-10857	84	10	five	five	NUM
fueconorg-10857	84	11	parts	part	NOUN
fueconorg-10857	84	12	.	.	PUNCT
fueconorg-10857	85	1	in	in	ADP
fueconorg-10857	85	2	the	the	DET
fueconorg-10857	85	3	beginning	beginning	NOUN
fueconorg-10857	85	4	,	,	PUNCT
fueconorg-10857	85	5	we	we	PRON
fueconorg-10857	85	6	dealt	deal	VERB
fueconorg-10857	85	7	with	with	ADP
fueconorg-10857	85	8	the	the	DET
fueconorg-10857	85	9	introduction	introduction	NOUN
fueconorg-10857	85	10	of	of	ADP
fueconorg-10857	85	11	the	the	DET
fueconorg-10857	85	12	concept	concept	NOUN
fueconorg-10857	85	13	of	of	ADP
fueconorg-10857	85	14	the	the	DET
fueconorg-10857	85	15	capm	capm	PROPN
fueconorg-10857	85	16	model	model	NOUN
fueconorg-10857	85	17	and	and	CCONJ
fueconorg-10857	85	18	then	then	ADV
fueconorg-10857	85	19	a	a	DET
fueconorg-10857	85	20	review	review	NOUN
fueconorg-10857	85	21	of	of	ADP
fueconorg-10857	85	22	the	the	DET
fueconorg-10857	85	23	literature	literature	NOUN
fueconorg-10857	85	24	related	relate	VERB
fueconorg-10857	85	25	to	to	ADP
fueconorg-10857	85	26	the	the	DET
fueconorg-10857	85	27	application	application	NOUN
fueconorg-10857	85	28	of	of	ADP
fueconorg-10857	85	29	the	the	DET
fueconorg-10857	85	30	model	model	NOUN
fueconorg-10857	85	31	itself	itself	PRON
fueconorg-10857	85	32	.	.	PUNCT
fueconorg-10857	86	1	in	in	ADP
fueconorg-10857	86	2	this	this	DET
fueconorg-10857	86	3	chapter	chapter	NOUN
fueconorg-10857	86	4	,	,	PUNCT
fueconorg-10857	86	5	we	we	PRON
fueconorg-10857	86	6	present	present	VERB
fueconorg-10857	86	7	the	the	DET
fueconorg-10857	86	8	main	main	ADJ
fueconorg-10857	86	9	mathematical	mathematical	ADJ
fueconorg-10857	86	10	formulas	formula	NOUN
fueconorg-10857	86	11	on	on	ADP
fueconorg-10857	86	12	which	which	PRON
fueconorg-10857	86	13	the	the	DET
fueconorg-10857	86	14	capm	capm	PROPN
fueconorg-10857	86	15	model	model	NOUN
fueconorg-10857	86	16	itself	itself	PRON
fueconorg-10857	86	17	is	be	AUX
fueconorg-10857	86	18	based	base	VERB
fueconorg-10857	86	19	and	and	CCONJ
fueconorg-10857	86	20	which	which	PRON
fueconorg-10857	86	21	were	be	AUX
fueconorg-10857	86	22	used	use	VERB
fueconorg-10857	86	23	in	in	ADP
fueconorg-10857	86	24	the	the	DET
fueconorg-10857	86	25	calculation	calculation	NOUN
fueconorg-10857	86	26	of	of	ADP
fueconorg-10857	86	27	the	the	DET
fueconorg-10857	86	28	obtained	obtain	VERB
fueconorg-10857	86	29	results	result	NOUN
fueconorg-10857	86	30	.	.	PUNCT
fueconorg-10857	87	1	also	also	ADV
fueconorg-10857	87	2	in	in	ADP
fueconorg-10857	87	3	this	this	DET
fueconorg-10857	87	4	chapter	chapter	NOUN
fueconorg-10857	87	5	,	,	PUNCT
fueconorg-10857	87	6	we	we	PRON
fueconorg-10857	87	7	present	present	VERB
fueconorg-10857	87	8	the	the	DET
fueconorg-10857	87	9	basic	basic	ADJ
fueconorg-10857	87	10	hypotheses	hypothesis	NOUN
fueconorg-10857	87	11	of	of	ADP
fueconorg-10857	87	12	the	the	DET
fueconorg-10857	87	13	research	research	NOUN
fueconorg-10857	87	14	itself	itself	PRON
fueconorg-10857	87	15	.	.	PUNCT
fueconorg-10857	88	1	in	in	ADP
fueconorg-10857	88	2	the	the	DET
fueconorg-10857	88	3	next	next	ADJ
fueconorg-10857	88	4	section	section	NOUN
fueconorg-10857	88	5	,	,	PUNCT
fueconorg-10857	88	6	we	we	PRON
fueconorg-10857	88	7	present	present	VERB
fueconorg-10857	88	8	the	the	DET
fueconorg-10857	88	9	obtained	obtain	VERB
fueconorg-10857	88	10	calculated	calculate	VERB
fueconorg-10857	88	11	results	result	NOUN
fueconorg-10857	88	12	using	use	VERB
fueconorg-10857	88	13	linear	linear	ADJ
fueconorg-10857	88	14	regression	regression	NOUN
fueconorg-10857	88	15	and	and	CCONJ
fueconorg-10857	88	16	covariance	covariance	NOUN
fueconorg-10857	88	17	.	.	PUNCT
fueconorg-10857	89	1	in	in	ADP
fueconorg-10857	89	2	the	the	DET
fueconorg-10857	89	3	last	last	ADJ
fueconorg-10857	89	4	chapter	chapter	NOUN
fueconorg-10857	89	5	,	,	PUNCT
fueconorg-10857	89	6	we	we	PRON
fueconorg-10857	89	7	make	make	VERB
fueconorg-10857	89	8	concluding	conclude	VERB
fueconorg-10857	89	9	remarks	remark	NOUN
fueconorg-10857	89	10	and	and	CCONJ
fueconorg-10857	89	11	give	give	VERB
fueconorg-10857	89	12	suggestions	suggestion	NOUN
fueconorg-10857	89	13	for	for	ADP
fueconorg-10857	89	14	testing	testing	NOUN
fueconorg-10857	89	15	of	of	ADP
fueconorg-10857	89	16	applicability	applicability	NOUN
fueconorg-10857	89	17	of	of	ADP
fueconorg-10857	89	18	the	the	DET
fueconorg-10857	89	19	capm	capm	PROPN
fueconorg-10857	89	20	model	model	NOUN
fueconorg-10857	89	21	using	use	VERB
fueconorg-10857	89	22	selected	select	VERB
fueconorg-10857	89	23	stocks	stock	NOUN
fueconorg-10857	89	24	listed	list	VERB
fueconorg-10857	89	25	on	on	ADP
fueconorg-10857	89	26	the	the	DET
fueconorg-10857	89	27	belgrade	belgrade	PROPN
fueconorg-10857	89	28	stock	stock	PROPN
fueconorg-10857	89	29	exchange	exchange	PROPN
fueconorg-10857	89	30	187	187	NUM
fueconorg-10857	89	31	future	future	ADJ
fueconorg-10857	89	32	research	research	NOUN
fueconorg-10857	89	33	.	.	PUNCT
fueconorg-10857	90	1	the	the	DET
fueconorg-10857	90	2	paper	paper	NOUN
fueconorg-10857	90	3	itself	itself	PRON
fueconorg-10857	90	4	covers	cover	VERB
fueconorg-10857	90	5	the	the	DET
fueconorg-10857	90	6	period	period	NOUN
fueconorg-10857	90	7	from	from	ADP
fueconorg-10857	90	8	2011	2011	NUM
fueconorg-10857	90	9	to	to	ADP
fueconorg-10857	90	10	2021	2021	NUM
fueconorg-10857	90	11	of	of	ADP
fueconorg-10857	90	12	selected	select	VERB
fueconorg-10857	90	13	shares	share	NOUN
fueconorg-10857	90	14	of	of	ADP
fueconorg-10857	90	15	the	the	DET
fueconorg-10857	90	16	belgrade	belgrade	PROPN
fueconorg-10857	90	17	stock	stock	PROPN
fueconorg-10857	90	18	exchange	exchange	PROPN
fueconorg-10857	90	19	as	as	SCONJ
fueconorg-10857	90	20	shown	show	VERB
fueconorg-10857	90	21	in	in	ADP
fueconorg-10857	90	22	table	table	NOUN
fueconorg-10857	90	23	1	1	NUM
fueconorg-10857	90	24	below	below	ADV
fueconorg-10857	90	25	.	.	PUNCT
fueconorg-10857	91	1	due	due	ADP
fueconorg-10857	91	2	to	to	ADP
fueconorg-10857	91	3	the	the	DET
fueconorg-10857	91	4	accuracy	accuracy	NOUN
fueconorg-10857	91	5	of	of	ADP
fueconorg-10857	91	6	the	the	DET
fueconorg-10857	91	7	data	datum	NOUN
fueconorg-10857	91	8	,	,	PUNCT
fueconorg-10857	91	9	the	the	DET
fueconorg-10857	91	10	data	datum	NOUN
fueconorg-10857	91	11	from	from	ADP
fueconorg-10857	91	12	january	january	PROPN
fueconorg-10857	91	13	2011	2011	NUM
fueconorg-10857	91	14	to	to	ADP
fueconorg-10857	91	15	december	december	PROPN
fueconorg-10857	91	16	2021	2021	NUM
fueconorg-10857	91	17	were	be	AUX
fueconorg-10857	91	18	used	use	VERB
fueconorg-10857	91	19	to	to	PART
fueconorg-10857	91	20	calculate	calculate	VERB
fueconorg-10857	91	21	the	the	DET
fueconorg-10857	91	22	beta	beta	ADJ
fueconorg-10857	91	23	coefficient	coefficient	NOUN
fueconorg-10857	91	24	,	,	PUNCT
fueconorg-10857	91	25	while	while	SCONJ
fueconorg-10857	91	26	the	the	DET
fueconorg-10857	91	27	annual	annual	ADJ
fueconorg-10857	91	28	returns	return	NOUN
fueconorg-10857	91	29	of	of	ADP
fueconorg-10857	91	30	selected	select	VERB
fueconorg-10857	91	31	shares	share	NOUN
fueconorg-10857	91	32	of	of	ADP
fueconorg-10857	91	33	companies	company	NOUN
fueconorg-10857	91	34	calculated	calculate	VERB
fueconorg-10857	91	35	based	base	VERB
fueconorg-10857	91	36	on	on	ADP
fueconorg-10857	91	37	monthly	monthly	ADJ
fueconorg-10857	91	38	data	datum	NOUN
fueconorg-10857	91	39	were	be	AUX
fueconorg-10857	91	40	used	use	VERB
fueconorg-10857	91	41	to	to	PART
fueconorg-10857	91	42	calculate	calculate	VERB
fueconorg-10857	91	43	the	the	DET
fueconorg-10857	91	44	application	application	NOUN
fueconorg-10857	91	45	of	of	ADP
fueconorg-10857	91	46	the	the	DET
fueconorg-10857	91	47	capm	capm	PROPN
fueconorg-10857	91	48	model	model	NOUN
fueconorg-10857	91	49	.	.	PUNCT
fueconorg-10857	92	1	the	the	DET
fueconorg-10857	92	2	main	main	ADJ
fueconorg-10857	92	3	hypotheses	hypothesis	NOUN
fueconorg-10857	92	4	derived	derive	VERB
fueconorg-10857	92	5	in	in	ADP
fueconorg-10857	92	6	this	this	DET
fueconorg-10857	92	7	research	research	NOUN
fueconorg-10857	92	8	are	be	AUX
fueconorg-10857	92	9	the	the	DET
fueconorg-10857	92	10	following	following	NOUN
fueconorg-10857	92	11	:	:	PUNCT
fueconorg-10857	92	12	h0	h0	NOUN
fueconorg-10857	92	13	:	:	PUNCT
fueconorg-10857	92	14	a	a	DET
fueconorg-10857	92	15	higher	high	ADJ
fueconorg-10857	92	16	return	return	NOUN
fueconorg-10857	92	17	on	on	ADP
fueconorg-10857	92	18	stocks	stock	NOUN
fueconorg-10857	92	19	is	be	AUX
fueconorg-10857	92	20	expected	expect	VERB
fueconorg-10857	92	21	at	at	ADP
fueconorg-10857	92	22	a	a	DET
fueconorg-10857	92	23	higher	high	ADJ
fueconorg-10857	92	24	level	level	NOUN
fueconorg-10857	92	25	of	of	ADP
fueconorg-10857	92	26	risk	risk	NOUN
fueconorg-10857	92	27	h1	h1	PROPN
fueconorg-10857	92	28	:	:	PUNCT
fueconorg-10857	92	29	the	the	DET
fueconorg-10857	92	30	capm	capm	PROPN
fueconorg-10857	92	31	model	model	NOUN
fueconorg-10857	92	32	is	be	AUX
fueconorg-10857	92	33	a	a	DET
fueconorg-10857	92	34	valid	valid	ADJ
fueconorg-10857	92	35	predictor	predictor	NOUN
fueconorg-10857	92	36	of	of	ADP
fueconorg-10857	92	37	stock	stock	NOUN
fueconorg-10857	92	38	returns	return	NOUN
fueconorg-10857	92	39	as	as	SCONJ
fueconorg-10857	92	40	mentioned	mention	VERB
fueconorg-10857	92	41	earlier	early	ADV
fueconorg-10857	92	42	,	,	PUNCT
fueconorg-10857	92	43	we	we	PRON
fueconorg-10857	92	44	deal	deal	VERB
fueconorg-10857	92	45	with	with	ADP
fueconorg-10857	92	46	the	the	DET
fueconorg-10857	92	47	presentation	presentation	NOUN
fueconorg-10857	92	48	of	of	ADP
fueconorg-10857	92	49	the	the	DET
fueconorg-10857	92	50	main	main	ADJ
fueconorg-10857	92	51	formulas	formula	NOUN
fueconorg-10857	92	52	and	and	CCONJ
fueconorg-10857	92	53	graphs	graph	NOUN
fueconorg-10857	92	54	that	that	PRON
fueconorg-10857	92	55	represent	represent	VERB
fueconorg-10857	92	56	the	the	DET
fueconorg-10857	92	57	assumptions	assumption	NOUN
fueconorg-10857	92	58	and	and	CCONJ
fueconorg-10857	92	59	components	component	NOUN
fueconorg-10857	92	60	of	of	ADP
fueconorg-10857	92	61	the	the	DET
fueconorg-10857	92	62	capm	capm	PROPN
fueconorg-10857	92	63	model	model	NOUN
fueconorg-10857	92	64	.	.	PUNCT
fueconorg-10857	93	1	a	a	DET
fueconorg-10857	93	2	market	market	NOUN
fueconorg-10857	93	3	portfolio	portfolio	NOUN
fueconorg-10857	93	4	is	be	AUX
fueconorg-10857	93	5	more	more	ADJ
fueconorg-10857	93	6	of	of	ADP
fueconorg-10857	93	7	a	a	DET
fueconorg-10857	93	8	theoretical	theoretical	ADJ
fueconorg-10857	93	9	concept	concept	NOUN
fueconorg-10857	93	10	than	than	ADP
fueconorg-10857	93	11	a	a	DET
fueconorg-10857	93	12	real	real	ADJ
fueconorg-10857	93	13	-	-	PUNCT
fueconorg-10857	93	14	world	world	NOUN
fueconorg-10857	93	15	application	application	NOUN
fueconorg-10857	93	16	.	.	PUNCT
fueconorg-10857	94	1	it	it	PRON
fueconorg-10857	94	2	is	be	AUX
fueconorg-10857	94	3	a	a	DET
fueconorg-10857	94	4	value	value	NOUN
fueconorg-10857	94	5	-	-	PUNCT
fueconorg-10857	94	6	weighted	weight	VERB
fueconorg-10857	94	7	portfolio	portfolio	NOUN
fueconorg-10857	94	8	that	that	PRON
fueconorg-10857	94	9	includes	include	VERB
fueconorg-10857	94	10	all	all	DET
fueconorg-10857	94	11	risk	risk	NOUN
fueconorg-10857	94	12	assets	asset	NOUN
fueconorg-10857	94	13	in	in	ADP
fueconorg-10857	94	14	the	the	DET
fueconorg-10857	94	15	global	global	ADJ
fueconorg-10857	94	16	economy	economy	NOUN
fueconorg-10857	94	17	,	,	PUNCT
fueconorg-10857	94	18	resulting	result	VERB
fueconorg-10857	94	19	in	in	ADP
fueconorg-10857	94	20	a	a	DET
fueconorg-10857	94	21	percentage	percentage	NOUN
fueconorg-10857	94	22	equal	equal	ADJ
fueconorg-10857	94	23	share	share	NOUN
fueconorg-10857	94	24	of	of	ADP
fueconorg-10857	94	25	the	the	DET
fueconorg-10857	94	26	market	market	NOUN
fueconorg-10857	94	27	value	value	NOUN
fueconorg-10857	94	28	of	of	ADP
fueconorg-10857	94	29	all	all	DET
fueconorg-10857	94	30	capital	capital	NOUN
fueconorg-10857	94	31	investments	investment	NOUN
fueconorg-10857	94	32	around	around	ADP
fueconorg-10857	94	33	the	the	DET
fueconorg-10857	94	34	world	world	NOUN
fueconorg-10857	94	35	.	.	PUNCT
fueconorg-10857	95	1	given	give	VERB
fueconorg-10857	95	2	the	the	DET
fueconorg-10857	95	3	unpredictability	unpredictability	NOUN
fueconorg-10857	95	4	of	of	ADP
fueconorg-10857	95	5	the	the	DET
fueconorg-10857	95	6	number	number	NOUN
fueconorg-10857	95	7	and	and	CCONJ
fueconorg-10857	95	8	market	market	NOUN
fueconorg-10857	95	9	value	value	NOUN
fueconorg-10857	95	10	of	of	ADP
fueconorg-10857	95	11	the	the	DET
fueconorg-10857	95	12	world	world	NOUN
fueconorg-10857	95	13	's	's	PART
fueconorg-10857	95	14	risk	risk	NOUN
fueconorg-10857	95	15	activity	activity	NOUN
fueconorg-10857	95	16	,	,	PUNCT
fueconorg-10857	95	17	it	it	PRON
fueconorg-10857	95	18	is	be	AUX
fueconorg-10857	95	19	evident	evident	ADJ
fueconorg-10857	95	20	that	that	SCONJ
fueconorg-10857	95	21	calculating	calculate	VERB
fueconorg-10857	95	22	a	a	DET
fueconorg-10857	95	23	value	value	NOUN
fueconorg-10857	95	24	-	-	PUNCT
fueconorg-10857	95	25	weighted	weight	VERB
fueconorg-10857	95	26	entirely	entirely	ADV
fueconorg-10857	95	27	comprehensive	comprehensive	ADJ
fueconorg-10857	95	28	market	market	NOUN
fueconorg-10857	95	29	index	index	NOUN
fueconorg-10857	95	30	,	,	PUNCT
fueconorg-10857	95	31	especially	especially	ADV
fueconorg-10857	95	32	for	for	ADP
fueconorg-10857	95	33	everyday	everyday	ADJ
fueconorg-10857	95	34	use	use	NOUN
fueconorg-10857	95	35	,	,	PUNCT
fueconorg-10857	95	36	is	be	AUX
fueconorg-10857	95	37	extremely	extremely	ADV
fueconorg-10857	95	38	difficult	difficult	ADJ
fueconorg-10857	95	39	.	.	PUNCT
fueconorg-10857	96	1	instead	instead	ADV
fueconorg-10857	96	2	,	,	PUNCT
fueconorg-10857	96	3	several	several	ADJ
fueconorg-10857	96	4	estimates	estimate	NOUN
fueconorg-10857	96	5	are	be	AUX
fueconorg-10857	96	6	utilized	utilize	VERB
fueconorg-10857	96	7	,	,	PUNCT
fueconorg-10857	96	8	the	the	DET
fueconorg-10857	96	9	most	most	ADV
fueconorg-10857	96	10	common	common	ADJ
fueconorg-10857	96	11	of	of	ADP
fueconorg-10857	96	12	which	which	PRON
fueconorg-10857	96	13	are	be	AUX
fueconorg-10857	96	14	larger	large	ADJ
fueconorg-10857	96	15	stock	stock	NOUN
fueconorg-10857	96	16	market	market	NOUN
fueconorg-10857	96	17	indices	index	NOUN
fueconorg-10857	96	18	(	(	PUNCT
fueconorg-10857	96	19	šoškić	šoškić	NOUN
fueconorg-10857	96	20	,	,	PUNCT
fueconorg-10857	96	21	2010	2010	NUM
fueconorg-10857	96	22	,	,	PUNCT
fueconorg-10857	96	23	p.	p.	NOUN
fueconorg-10857	96	24	105	105	NUM
fueconorg-10857	96	25	)	)	PUNCT
fueconorg-10857	96	26	.	.	PUNCT
fueconorg-10857	97	1	graphically	graphically	ADV
fueconorg-10857	97	2	,	,	PUNCT
fueconorg-10857	97	3	the	the	DET
fueconorg-10857	97	4	market	market	NOUN
fueconorg-10857	97	5	portfolio	portfolio	NOUN
fueconorg-10857	97	6	can	can	AUX
fueconorg-10857	97	7	be	be	AUX
fueconorg-10857	97	8	presented	present	VERB
fueconorg-10857	97	9	with	with	ADP
fueconorg-10857	97	10	the	the	DET
fueconorg-10857	97	11	help	help	NOUN
fueconorg-10857	97	12	of	of	ADP
fueconorg-10857	97	13	the	the	DET
fueconorg-10857	97	14	so	so	ADV
fueconorg-10857	97	15	-	-	PUNCT
fueconorg-10857	97	16	called	call	VERB
fueconorg-10857	97	17	cml	cml	PROPN
fueconorg-10857	97	18	(	(	PUNCT
fueconorg-10857	97	19	capital	capital	NOUN
fueconorg-10857	97	20	market	market	NOUN
fueconorg-10857	97	21	line	line	NOUN
fueconorg-10857	97	22	)	)	PUNCT
fueconorg-10857	97	23	,	,	PUNCT
fueconorg-10857	97	24	which	which	PRON
fueconorg-10857	97	25	is	be	AUX
fueconorg-10857	97	26	a	a	DET
fueconorg-10857	97	27	set	set	NOUN
fueconorg-10857	97	28	of	of	ADP
fueconorg-10857	97	29	efficient	efficient	ADJ
fueconorg-10857	97	30	solutions	solution	NOUN
fueconorg-10857	97	31	equal	equal	ADJ
fueconorg-10857	97	32	for	for	ADP
fueconorg-10857	97	33	all	all	DET
fueconorg-10857	97	34	investors	investor	NOUN
fueconorg-10857	97	35	.	.	PUNCT
fueconorg-10857	98	1	for	for	ADP
fueconorg-10857	98	2	the	the	DET
fueconorg-10857	98	3	investor	investor	NOUN
fueconorg-10857	98	4	,	,	PUNCT
fueconorg-10857	98	5	in	in	ADP
fueconorg-10857	98	6	theory	theory	NOUN
fueconorg-10857	98	7	,	,	PUNCT
fueconorg-10857	98	8	it	it	PRON
fueconorg-10857	98	9	is	be	AUX
fueconorg-10857	98	10	ideal	ideal	ADJ
fueconorg-10857	98	11	for	for	SCONJ
fueconorg-10857	98	12	the	the	DET
fueconorg-10857	98	13	portfolio	portfolio	NOUN
fueconorg-10857	98	14	to	to	PART
fueconorg-10857	98	15	be	be	AUX
fueconorg-10857	98	16	on	on	ADP
fueconorg-10857	98	17	this	this	DET
fueconorg-10857	98	18	line	line	NOUN
fueconorg-10857	98	19	because	because	SCONJ
fueconorg-10857	98	20	cml	cml	PROPN
fueconorg-10857	98	21	is	be	AUX
fueconorg-10857	98	22	an	an	DET
fueconorg-10857	98	23	efficient	efficient	ADJ
fueconorg-10857	98	24	frontier	frontier	NOUN
fueconorg-10857	98	25	.	.	PUNCT
fueconorg-10857	99	1	in	in	ADP
fueconorg-10857	99	2	theory	theory	NOUN
fueconorg-10857	99	3	,	,	PUNCT
fueconorg-10857	99	4	a	a	DET
fueconorg-10857	99	5	portfolio	portfolio	NOUN
fueconorg-10857	99	6	gathered	gather	VERB
fueconorg-10857	99	7	from	from	ADP
fueconorg-10857	99	8	certain	certain	ADJ
fueconorg-10857	99	9	stocks	stock	NOUN
fueconorg-10857	99	10	closer	close	ADV
fueconorg-10857	99	11	to	to	ADP
fueconorg-10857	99	12	the	the	DET
fueconorg-10857	99	13	x	x	NOUN
fueconorg-10857	99	14	-	-	NOUN
fueconorg-10857	99	15	axis	axis	NOUN
fueconorg-10857	99	16	represents	represent	VERB
fueconorg-10857	99	17	a	a	DET
fueconorg-10857	99	18	portfolio	portfolio	NOUN
fueconorg-10857	99	19	that	that	PRON
fueconorg-10857	99	20	contains	contain	VERB
fueconorg-10857	99	21	more	more	ADV
fueconorg-10857	99	22	secure	secure	ADJ
fueconorg-10857	99	23	securities	security	NOUN
fueconorg-10857	99	24	(	(	PUNCT
fueconorg-10857	99	25	mostly	mostly	ADV
fueconorg-10857	99	26	bonds	bond	NOUN
fueconorg-10857	99	27	)	)	PUNCT
fueconorg-10857	99	28	while	while	SCONJ
fueconorg-10857	99	29	a	a	DET
fueconorg-10857	99	30	portfolio	portfolio	NOUN
fueconorg-10857	99	31	further	far	ADV
fueconorg-10857	99	32	than	than	ADP
fueconorg-10857	99	33	the	the	DET
fueconorg-10857	99	34	x	x	NOUN
fueconorg-10857	99	35	-	-	NOUN
fueconorg-10857	99	36	axis	axis	ADJ
fueconorg-10857	99	37	and	and	CCONJ
fueconorg-10857	99	38	along	along	ADP
fueconorg-10857	99	39	the	the	DET
fueconorg-10857	99	40	line	line	NOUN
fueconorg-10857	99	41	represents	represent	VERB
fueconorg-10857	99	42	a	a	DET
fueconorg-10857	99	43	risky	risky	ADJ
fueconorg-10857	99	44	portfolio	portfolio	NOUN
fueconorg-10857	99	45	,	,	PUNCT
fueconorg-10857	99	46	and	and	CCONJ
fueconorg-10857	99	47	the	the	DET
fueconorg-10857	99	48	main	main	ADJ
fueconorg-10857	99	49	assumption	assumption	NOUN
fueconorg-10857	99	50	of	of	ADP
fueconorg-10857	99	51	the	the	DET
fueconorg-10857	99	52	modern	modern	ADJ
fueconorg-10857	99	53	portfolio	portfolio	NOUN
fueconorg-10857	99	54	theory	theory	NOUN
fueconorg-10857	99	55	is	be	AUX
fueconorg-10857	99	56	that	that	SCONJ
fueconorg-10857	99	57	the	the	PRON
fueconorg-10857	99	58	higher	high	ADJ
fueconorg-10857	99	59	the	the	DET
fueconorg-10857	99	60	amount	amount	NOUN
fueconorg-10857	99	61	of	of	ADP
fueconorg-10857	99	62	risk	risk	NOUN
fueconorg-10857	99	63	(	(	PUNCT
fueconorg-10857	99	64	standard	standard	ADJ
fueconorg-10857	99	65	deviation	deviation	NOUN
fueconorg-10857	99	66	)	)	PUNCT
fueconorg-10857	99	67	the	the	PRON
fueconorg-10857	99	68	higher	high	ADJ
fueconorg-10857	99	69	the	the	DET
fueconorg-10857	99	70	profit	profit	NOUN
fueconorg-10857	99	71	is	be	AUX
fueconorg-10857	99	72	expected	expect	VERB
fueconorg-10857	99	73	.	.	PUNCT
fueconorg-10857	100	1	fig	fig	NOUN
fueconorg-10857	100	2	.	.	PUNCT
fueconorg-10857	101	1	1	1	NUM
fueconorg-10857	101	2	capital	capital	NOUN
fueconorg-10857	101	3	market	market	NOUN
fueconorg-10857	101	4	line	line	NOUN
fueconorg-10857	101	5	(	(	PUNCT
fueconorg-10857	101	6	cml	cml	PROPN
fueconorg-10857	101	7	)	)	PUNCT
fueconorg-10857	101	8	source	source	NOUN
fueconorg-10857	101	9	:	:	PUNCT
fueconorg-10857	101	10	schoenmaker	schoenmaker	PROPN
fueconorg-10857	101	11	&	&	CCONJ
fueconorg-10857	101	12	schramade	schramade	PROPN
fueconorg-10857	101	13	(	(	PUNCT
fueconorg-10857	101	14	2020	2020	NUM
fueconorg-10857	101	15	)	)	PUNCT
fueconorg-10857	101	16	one	one	NUM
fueconorg-10857	101	17	of	of	ADP
fueconorg-10857	101	18	the	the	DET
fueconorg-10857	101	19	foundations	foundation	NOUN
fueconorg-10857	101	20	of	of	ADP
fueconorg-10857	101	21	the	the	DET
fueconorg-10857	101	22	model	model	NOUN
fueconorg-10857	101	23	is	be	AUX
fueconorg-10857	101	24	the	the	DET
fueconorg-10857	101	25	understanding	understanding	NOUN
fueconorg-10857	101	26	of	of	ADP
fueconorg-10857	101	27	the	the	DET
fueconorg-10857	101	28	beta	beta	ADJ
fueconorg-10857	101	29	coefficient	coefficient	NOUN
fueconorg-10857	101	30	.	.	PUNCT
fueconorg-10857	102	1	the	the	DET
fueconorg-10857	102	2	beta	beta	ADJ
fueconorg-10857	102	3	coefficient	coefficient	NOUN
fueconorg-10857	102	4	is	be	AUX
fueconorg-10857	102	5	usually	usually	ADV
fueconorg-10857	102	6	calculated	calculate	VERB
fueconorg-10857	102	7	by	by	ADP
fueconorg-10857	102	8	reviewing	review	VERB
fueconorg-10857	102	9	historical	historical	ADJ
fueconorg-10857	102	10	data	datum	NOUN
fueconorg-10857	102	11	.	.	PUNCT
fueconorg-10857	103	1	because	because	SCONJ
fueconorg-10857	103	2	investment	investment	NOUN
fueconorg-10857	103	3	and	and	CCONJ
fueconorg-10857	103	4	financial	financial	ADJ
fueconorg-10857	103	5	decision	decision	NOUN
fueconorg-10857	103	6	-	-	PUNCT
fueconorg-10857	103	7	making	making	NOUN
fueconorg-10857	103	8	are	be	AUX
fueconorg-10857	103	9	future	future	ADV
fueconorg-10857	103	10	-	-	PUNCT
fueconorg-10857	103	11	oriented	orient	VERB
fueconorg-10857	103	12	,	,	PUNCT
fueconorg-10857	103	13	the	the	DET
fueconorg-10857	103	14	argument	argument	NOUN
fueconorg-10857	103	15	for	for	ADP
fueconorg-10857	103	16	employing	employ	VERB
fueconorg-10857	103	17	a	a	DET
fueconorg-10857	103	18	beta	beta	ADJ
fueconorg-10857	103	19	coefficient	coefficient	NOUN
fueconorg-10857	103	20	whose	whose	DET
fueconorg-10857	103	21	value	value	NOUN
fueconorg-10857	103	22	is	be	AUX
fueconorg-10857	103	23	based	base	VERB
fueconorg-10857	103	24	on	on	ADP
fueconorg-10857	103	25	historical	historical	ADJ
fueconorg-10857	103	26	data	datum	NOUN
fueconorg-10857	103	27	can	can	AUX
fueconorg-10857	103	28	be	be	AUX
fueconorg-10857	103	29	questioned	question	VERB
fueconorg-10857	103	30	,	,	PUNCT
fueconorg-10857	103	31	especially	especially	ADV
fueconorg-10857	103	32	since	since	SCONJ
fueconorg-10857	103	33	we	we	PRON
fueconorg-10857	103	34	know	know	VERB
fueconorg-10857	103	35	that	that	SCONJ
fueconorg-10857	103	36	financial	financial	ADJ
fueconorg-10857	103	37	market	market	NOUN
fueconorg-10857	103	38	occurrences	occurrence	NOUN
fueconorg-10857	103	39	are	be	AUX
fueconorg-10857	103	40	not	not	PART
fueconorg-10857	103	41	a	a	DET
fueconorg-10857	103	42	straightforward	straightforward	ADJ
fueconorg-10857	103	43	extrapolation	extrapolation	NOUN
fueconorg-10857	103	44	of	of	ADP
fueconorg-10857	103	45	past	past	ADJ
fueconorg-10857	103	46	events	event	NOUN
fueconorg-10857	103	47	(	(	PUNCT
fueconorg-10857	103	48	krneta	krneta	INTJ
fueconorg-10857	103	49	,	,	PUNCT
fueconorg-10857	103	50	2006	2006	NUM
fueconorg-10857	103	51	,	,	PUNCT
fueconorg-10857	103	52	p.	p.	NOUN
fueconorg-10857	103	53	65	65	NUM
fueconorg-10857	103	54	)	)	PUNCT
fueconorg-10857	103	55	.	.	PUNCT
fueconorg-10857	104	1	the	the	DET
fueconorg-10857	104	2	basic	basic	ADJ
fueconorg-10857	104	3	idea	idea	NOUN
fueconorg-10857	104	4	of	of	ADP
fueconorg-10857	104	5	the	the	DET
fueconorg-10857	104	6	beta	beta	ADJ
fueconorg-10857	104	7	coefficient	coefficient	NOUN
fueconorg-10857	104	8	or	or	CCONJ
fueconorg-10857	104	9	beta	beta	NOUN
fueconorg-10857	104	10	index	index	NOUN
fueconorg-10857	104	11	is	be	AUX
fueconorg-10857	104	12	that	that	SCONJ
fueconorg-10857	104	13	if	if	SCONJ
fueconorg-10857	104	14	188	188	NUM
fueconorg-10857	104	15	m.	m.	NOUN
fueconorg-10857	104	16	đaković	đaković	NOUN
fueconorg-10857	104	17	,	,	PUNCT
fueconorg-10857	104	18	j.	j.	PROPN
fueconorg-10857	104	19	andrašić	andrašić	PROPN
fueconorg-10857	104	20	,	,	PUNCT
fueconorg-10857	104	21	d.	d.	PROPN
fueconorg-10857	104	22	cicmil	cicmil	PROPN
fueconorg-10857	104	23	β	β	PROPN
fueconorg-10857	104	24	>	>	X
fueconorg-10857	104	25	1	1	NUM
fueconorg-10857	104	26	the	the	DET
fueconorg-10857	104	27	stock	stock	NOUN
fueconorg-10857	104	28	price	price	NOUN
fueconorg-10857	104	29	moves	move	VERB
fueconorg-10857	104	30	more	more	ADV
fueconorg-10857	104	31	aggressively	aggressively	ADV
fueconorg-10857	104	32	concerning	concern	VERB
fueconorg-10857	104	33	the	the	DET
fueconorg-10857	104	34	market	market	NOUN
fueconorg-10857	104	35	portfolio	portfolio	NOUN
fueconorg-10857	104	36	.	.	PUNCT
fueconorg-10857	105	1	when	when	SCONJ
fueconorg-10857	105	2	β	β	X
fueconorg-10857	105	3	<	<	X
fueconorg-10857	105	4	1	1	NUM
fueconorg-10857	105	5	represents	represent	VERB
fueconorg-10857	105	6	a	a	DET
fueconorg-10857	105	7	slower	slow	ADJ
fueconorg-10857	105	8	movement	movement	NOUN
fueconorg-10857	105	9	of	of	ADP
fueconorg-10857	105	10	stock	stock	NOUN
fueconorg-10857	105	11	prices	price	NOUN
fueconorg-10857	105	12	but	but	CCONJ
fueconorg-10857	105	13	in	in	ADP
fueconorg-10857	105	14	the	the	DET
fueconorg-10857	105	15	same	same	ADJ
fueconorg-10857	105	16	direction	direction	NOUN
fueconorg-10857	105	17	while	while	SCONJ
fueconorg-10857	105	18	β	β	NOUN
fueconorg-10857	105	19	=	=	SYM
fueconorg-10857	105	20	1	1	NUM
fueconorg-10857	105	21	represents	represent	VERB
fueconorg-10857	105	22	the	the	DET
fueconorg-10857	105	23	beta	beta	ADJ
fueconorg-10857	105	24	coefficient	coefficient	NOUN
fueconorg-10857	105	25	of	of	ADP
fueconorg-10857	105	26	the	the	DET
fueconorg-10857	105	27	market	market	NOUN
fueconorg-10857	105	28	portfolio	portfolio	NOUN
fueconorg-10857	105	29	itself	itself	PRON
fueconorg-10857	105	30	.	.	PUNCT
fueconorg-10857	106	1	one	one	NUM
fueconorg-10857	106	2	of	of	ADP
fueconorg-10857	106	3	the	the	DET
fueconorg-10857	106	4	basic	basic	ADJ
fueconorg-10857	106	5	assumptions	assumption	NOUN
fueconorg-10857	106	6	of	of	ADP
fueconorg-10857	106	7	the	the	DET
fueconorg-10857	106	8	capm	capm	PROPN
fueconorg-10857	106	9	model	model	NOUN
fueconorg-10857	106	10	is	be	AUX
fueconorg-10857	106	11	the	the	DET
fueconorg-10857	106	12	existence	existence	NOUN
fueconorg-10857	106	13	of	of	ADP
fueconorg-10857	106	14	a	a	DET
fueconorg-10857	106	15	market	market	NOUN
fueconorg-10857	106	16	portfolio	portfolio	NOUN
fueconorg-10857	106	17	,	,	PUNCT
fueconorg-10857	106	18	but	but	CCONJ
fueconorg-10857	106	19	in	in	ADP
fueconorg-10857	106	20	practice	practice	NOUN
fueconorg-10857	106	21	,	,	PUNCT
fueconorg-10857	106	22	it	it	PRON
fueconorg-10857	106	23	is	be	AUX
fueconorg-10857	106	24	quite	quite	ADV
fueconorg-10857	106	25	difficult	difficult	ADJ
fueconorg-10857	106	26	to	to	PART
fueconorg-10857	106	27	determine	determine	VERB
fueconorg-10857	106	28	the	the	DET
fueconorg-10857	106	29	real	real	ADJ
fueconorg-10857	106	30	representation	representation	NOUN
fueconorg-10857	106	31	of	of	ADP
fueconorg-10857	106	32	the	the	DET
fueconorg-10857	106	33	market	market	NOUN
fueconorg-10857	106	34	portfolio	portfolio	NOUN
fueconorg-10857	106	35	,	,	PUNCT
fueconorg-10857	106	36	which	which	PRON
fueconorg-10857	106	37	is	be	AUX
fueconorg-10857	106	38	one	one	NUM
fueconorg-10857	106	39	of	of	ADP
fueconorg-10857	106	40	the	the	DET
fueconorg-10857	106	41	limitations	limitation	NOUN
fueconorg-10857	106	42	of	of	ADP
fueconorg-10857	106	43	the	the	DET
fueconorg-10857	106	44	capm	capm	PROPN
fueconorg-10857	106	45	model	model	NOUN
fueconorg-10857	106	46	.	.	PUNCT
fueconorg-10857	107	1	in	in	ADP
fueconorg-10857	107	2	practice	practice	NOUN
fueconorg-10857	107	3	,	,	PUNCT
fueconorg-10857	107	4	the	the	DET
fueconorg-10857	107	5	stock	stock	NOUN
fueconorg-10857	107	6	exchange	exchange	NOUN
fueconorg-10857	107	7	index	index	NOUN
fueconorg-10857	107	8	of	of	ADP
fueconorg-10857	107	9	the	the	DET
fueconorg-10857	107	10	country	country	NOUN
fueconorg-10857	107	11	that	that	PRON
fueconorg-10857	107	12	is	be	AUX
fueconorg-10857	107	13	the	the	DET
fueconorg-10857	107	14	subject	subject	NOUN
fueconorg-10857	107	15	of	of	ADP
fueconorg-10857	107	16	the	the	DET
fueconorg-10857	107	17	research	research	NOUN
fueconorg-10857	107	18	is	be	AUX
fueconorg-10857	107	19	mostly	mostly	ADV
fueconorg-10857	107	20	used	use	VERB
fueconorg-10857	107	21	,	,	PUNCT
fueconorg-10857	107	22	namely	namely	ADV
fueconorg-10857	107	23	the	the	DET
fueconorg-10857	107	24	index	index	NOUN
fueconorg-10857	107	25	that	that	PRON
fueconorg-10857	107	26	includes	include	VERB
fueconorg-10857	107	27	the	the	DET
fueconorg-10857	107	28	largest	large	ADJ
fueconorg-10857	107	29	number	number	NOUN
fueconorg-10857	107	30	of	of	ADP
fueconorg-10857	107	31	shares	share	NOUN
fueconorg-10857	107	32	,	,	PUNCT
fueconorg-10857	107	33	so	so	SCONJ
fueconorg-10857	107	34	that	that	SCONJ
fueconorg-10857	107	35	its	its	PRON
fueconorg-10857	107	36	movements	movement	NOUN
fueconorg-10857	107	37	most	most	ADV
fueconorg-10857	107	38	accurately	accurately	ADV
fueconorg-10857	107	39	represent	represent	VERB
fueconorg-10857	107	40	market	market	NOUN
fueconorg-10857	107	41	movements	movement	NOUN
fueconorg-10857	107	42	.	.	PUNCT
fueconorg-10857	108	1	the	the	DET
fueconorg-10857	108	2	most	most	ADV
fueconorg-10857	108	3	comprehensive	comprehensive	ADJ
fueconorg-10857	108	4	index	index	NOUN
fueconorg-10857	108	5	on	on	ADP
fueconorg-10857	108	6	the	the	DET
fueconorg-10857	108	7	belgrade	belgrade	PROPN
fueconorg-10857	108	8	stock	stock	PROPN
fueconorg-10857	108	9	exchange	exchange	PROPN
fueconorg-10857	108	10	is	be	AUX
fueconorg-10857	108	11	the	the	DET
fueconorg-10857	108	12	belexline	belexline	NOUN
fueconorg-10857	108	13	index	index	NOUN
fueconorg-10857	108	14	,	,	PUNCT
fueconorg-10857	108	15	which	which	PRON
fueconorg-10857	108	16	we	we	PRON
fueconorg-10857	108	17	used	use	VERB
fueconorg-10857	108	18	in	in	ADP
fueconorg-10857	108	19	this	this	DET
fueconorg-10857	108	20	research	research	NOUN
fueconorg-10857	108	21	as	as	ADP
fueconorg-10857	108	22	a	a	DET
fueconorg-10857	108	23	representative	representative	NOUN
fueconorg-10857	108	24	of	of	ADP
fueconorg-10857	108	25	the	the	DET
fueconorg-10857	108	26	market	market	NOUN
fueconorg-10857	108	27	portfolio	portfolio	NOUN
fueconorg-10857	108	28	.	.	PUNCT
fueconorg-10857	109	1	for	for	ADP
fueconorg-10857	109	2	calculating	calculate	VERB
fueconorg-10857	109	3	the	the	DET
fueconorg-10857	109	4	beta	beta	ADJ
fueconorg-10857	109	5	coefficient	coefficient	NOUN
fueconorg-10857	109	6	we	we	PRON
fueconorg-10857	109	7	use	use	VERB
fueconorg-10857	109	8	the	the	DET
fueconorg-10857	109	9	covariance	covariance	NOUN
fueconorg-10857	109	10	/	/	SYM
fueconorg-10857	109	11	variance	variance	NOUN
fueconorg-10857	109	12	method	method	NOUN
fueconorg-10857	109	13	.	.	PUNCT
fueconorg-10857	110	1	(	(	PUNCT
fueconorg-10857	110	2	)	)	PUNCT
fueconorg-10857	110	3	*	*	PUNCT
fueconorg-10857	110	4	(	(	PUNCT
fueconorg-10857	110	5	)	)	PUNCT
fueconorg-10857	110	6	(	(	PUNCT
fueconorg-10857	110	7	,	,	PUNCT
fueconorg-10857	110	8	)	)	PUNCT
fueconorg-10857	110	9	rmi	rmi	NOUN
fueconorg-10857	110	10	rsj	rsj	PROPN
fueconorg-10857	110	11	v	v	ADP
fueconorg-10857	110	12	cov	cov	PROPN
fueconorg-10857	110	13	rm	rm	NOUN
fueconorg-10857	110	14	rs	rs	PROPN
fueconorg-10857	110	15	n	n	PROPN
fueconorg-10857	110	16			PROPN
fueconorg-10857	110	17	−	−	PROPN
fueconorg-10857	111	1	−	−	PROPN
fueconorg-10857	112	1	=	=	SYM
fueconorg-10857	113	1	(	(	PUNCT
fueconorg-10857	113	2	1	1	NUM
fueconorg-10857	113	3	)	)	PUNCT
fueconorg-10857	113	4	cov(rm	cov(rm	NOUN
fueconorg-10857	113	5	,	,	PUNCT
fueconorg-10857	113	6	rs	rs	NOUN
fueconorg-10857	113	7	)	)	PUNCT
fueconorg-10857	113	8	–	–	PUNCT
fueconorg-10857	113	9	represents	represent	VERB
fueconorg-10857	113	10	the	the	DET
fueconorg-10857	113	11	covariance	covariance	NOUN
fueconorg-10857	113	12	of	of	ADP
fueconorg-10857	113	13	variables	variable	NOUN
fueconorg-10857	113	14	rm	rm	PROPN
fueconorg-10857	113	15	and	and	CCONJ
fueconorg-10857	113	16	rs	r	NOUN
fueconorg-10857	113	17	.	.	PUNCT
fueconorg-10857	114	1	σ	σ	NOUN
fueconorg-10857	114	2	–	–	PUNCT
fueconorg-10857	114	3	represents	represent	VERB
fueconorg-10857	114	4	the	the	DET
fueconorg-10857	114	5	sum	sum	NOUN
fueconorg-10857	114	6	of	of	ADP
fueconorg-10857	114	7	other	other	ADJ
fueconorg-10857	114	8	parts	part	NOUN
fueconorg-10857	114	9	of	of	ADP
fueconorg-10857	114	10	the	the	DET
fueconorg-10857	114	11	formula	formula	NOUN
fueconorg-10857	114	12	.	.	PUNCT
fueconorg-10857	115	1	(	(	PUNCT
fueconorg-10857	115	2	rmi	rmi	NOUN
fueconorg-10857	115	3	)	)	PUNCT
fueconorg-10857	115	4	–	–	PUNCT
fueconorg-10857	115	5	represents	represent	VERB
fueconorg-10857	115	6	all	all	DET
fueconorg-10857	115	7	values	value	NOUN
fueconorg-10857	115	8	of	of	ADP
fueconorg-10857	115	9	the	the	DET
fueconorg-10857	115	10	rm	rm	NOUN
fueconorg-10857	115	11	-	-	PUNCT
fueconorg-10857	115	12	variable	variable	NOUN
fueconorg-10857	115	13	.	.	PUNCT
fueconorg-10857	116	1	µ	µ	X
fueconorg-10857	116	2	–	–	PUNCT
fueconorg-10857	116	3	represents	represent	VERB
fueconorg-10857	116	4	the	the	DET
fueconorg-10857	116	5	average	average	ADJ
fueconorg-10857	116	6	value	value	NOUN
fueconorg-10857	116	7	of	of	ADP
fueconorg-10857	116	8	the	the	DET
fueconorg-10857	116	9	rm	rm	NOUN
fueconorg-10857	116	10	-	-	PUNCT
fueconorg-10857	116	11	variable	variable	NOUN
fueconorg-10857	116	12	.	.	PUNCT
fueconorg-10857	117	1	rsj	rsj	NOUN
fueconorg-10857	117	2	–	–	PUNCT
fueconorg-10857	117	3	represents	represent	VERB
fueconorg-10857	117	4	all	all	DET
fueconorg-10857	117	5	values	value	NOUN
fueconorg-10857	117	6	of	of	ADP
fueconorg-10857	117	7	the	the	DET
fueconorg-10857	117	8	rs	rs	NOUN
fueconorg-10857	117	9	-	-	PUNCT
fueconorg-10857	117	10	variable	variable	NOUN
fueconorg-10857	117	11	.	.	PUNCT
fueconorg-10857	118	1	v	v	X
fueconorg-10857	118	2	–	–	PUNCT
fueconorg-10857	118	3	represents	represent	VERB
fueconorg-10857	118	4	the	the	DET
fueconorg-10857	118	5	average	average	ADJ
fueconorg-10857	118	6	value	value	NOUN
fueconorg-10857	118	7	of	of	ADP
fueconorg-10857	118	8	the	the	DET
fueconorg-10857	118	9	rs	rs	NOUN
fueconorg-10857	118	10	-	-	PUNCT
fueconorg-10857	118	11	variable	variable	NOUN
fueconorg-10857	118	12	.	.	PUNCT
fueconorg-10857	119	1	σ	σ	NOUN
fueconorg-10857	119	2	–	–	PUNCT
fueconorg-10857	119	3	represents	represent	VERB
fueconorg-10857	119	4	the	the	DET
fueconorg-10857	119	5	sum	sum	NOUN
fueconorg-10857	119	6	of	of	ADP
fueconorg-10857	119	7	the	the	DET
fueconorg-10857	119	8	values	value	NOUN
fueconorg-10857	119	9	for	for	ADP
fueconorg-10857	119	10	both	both	DET
fueconorg-10857	119	11	rmi	rmi	NOUN
fueconorg-10857	119	12	−	−	PROPN
fueconorg-10857	119	13	µ	µ	NUM
fueconorg-10857	119	14	)	)	PUNCT
fueconorg-10857	119	15	and	and	CCONJ
fueconorg-10857	119	16	(	(	PUNCT
fueconorg-10857	119	17	rsj	rsj	NOUN
fueconorg-10857	119	18	−	−	PROPN
fueconorg-10857	119	19	v	v	NOUN
fueconorg-10857	119	20	)	)	PUNCT
fueconorg-10857	119	21	.	.	PUNCT
fueconorg-10857	120	1	n	n	PROPN
fueconorg-10857	120	2	–	–	PUNCT
fueconorg-10857	120	3	represents	represent	VERB
fueconorg-10857	120	4	the	the	DET
fueconorg-10857	120	5	total	total	ADJ
fueconorg-10857	120	6	number	number	NOUN
fueconorg-10857	120	7	of	of	ADP
fueconorg-10857	120	8	data	datum	NOUN
fueconorg-10857	120	9	points	point	NOUN
fueconorg-10857	120	10	across	across	ADP
fueconorg-10857	120	11	both	both	DET
fueconorg-10857	120	12	variables	variable	NOUN
fueconorg-10857	120	13	.	.	PUNCT
fueconorg-10857	121	1	(	(	PUNCT
fueconorg-10857	121	2	,	,	PUNCT
fueconorg-10857	121	3	)	)	PUNCT
fueconorg-10857	121	4	(	(	PUNCT
fueconorg-10857	121	5	)	)	PUNCT
fueconorg-10857	121	6	cov	cov	PROPN
fueconorg-10857	121	7	rm	rm	PROPN
fueconorg-10857	121	8	rs	rs	PROPN
fueconorg-10857	121	9	var	var	PROPN
fueconorg-10857	121	10	rm	rm	PROPN
fueconorg-10857	121	11			PROPN
fueconorg-10857	121	12	=	=	PUNCT
fueconorg-10857	121	13	(	(	PUNCT
fueconorg-10857	121	14	2	2	X
fueconorg-10857	121	15	)	)	PUNCT
fueconorg-10857	121	16	β	β	NOUN
fueconorg-10857	121	17	–	–	PUNCT
fueconorg-10857	121	18	beta	beta	ADJ
fueconorg-10857	121	19	coefficient	coefficient	NOUN
fueconorg-10857	121	20	rm	rm	PROPN
fueconorg-10857	121	21	–	–	PUNCT
fueconorg-10857	121	22	the	the	DET
fueconorg-10857	121	23	return	return	NOUN
fueconorg-10857	121	24	of	of	ADP
fueconorg-10857	121	25	the	the	DET
fueconorg-10857	121	26	market	market	NOUN
fueconorg-10857	121	27	rs	rs	NOUN
fueconorg-10857	121	28	–	–	PUNCT
fueconorg-10857	121	29	the	the	DET
fueconorg-10857	121	30	return	return	NOUN
fueconorg-10857	121	31	of	of	ADP
fueconorg-10857	121	32	the	the	DET
fueconorg-10857	121	33	stock	stock	NOUN
fueconorg-10857	121	34	cov	cov	NOUN
fueconorg-10857	121	35	–	–	PUNCT
fueconorg-10857	121	36	covariance	covariance	NOUN
fueconorg-10857	121	37	var	var	NOUN
fueconorg-10857	121	38	–	–	PUNCT
fueconorg-10857	121	39	variance	variance	NOUN
fueconorg-10857	121	40	as	as	SCONJ
fueconorg-10857	121	41	we	we	PRON
fueconorg-10857	121	42	can	can	AUX
fueconorg-10857	121	43	see	see	VERB
fueconorg-10857	121	44	,	,	PUNCT
fueconorg-10857	121	45	the	the	DET
fueconorg-10857	121	46	beta	beta	ADJ
fueconorg-10857	121	47	coefficient	coefficient	NOUN
fueconorg-10857	121	48	is	be	AUX
fueconorg-10857	121	49	calculated	calculate	VERB
fueconorg-10857	121	50	as	as	ADP
fueconorg-10857	121	51	the	the	DET
fueconorg-10857	121	52	quotient	quotient	NOUN
fueconorg-10857	121	53	of	of	ADP
fueconorg-10857	121	54	the	the	DET
fueconorg-10857	121	55	stock	stock	NOUN
fueconorg-10857	121	56	return	return	NOUN
fueconorg-10857	121	57	and	and	CCONJ
fueconorg-10857	121	58	market	market	NOUN
fueconorg-10857	121	59	return	return	NOUN
fueconorg-10857	121	60	,	,	PUNCT
fueconorg-10857	121	61	and	and	CCONJ
fueconorg-10857	121	62	the	the	DET
fueconorg-10857	121	63	return	return	NOUN
fueconorg-10857	121	64	variance	variance	NOUN
fueconorg-10857	121	65	.	.	PUNCT
fueconorg-10857	122	1	based	base	VERB
fueconorg-10857	122	2	on	on	ADP
fueconorg-10857	122	3	that	that	PRON
fueconorg-10857	122	4	,	,	PUNCT
fueconorg-10857	122	5	we	we	PRON
fueconorg-10857	122	6	get	get	VERB
fueconorg-10857	122	7	a	a	DET
fueconorg-10857	122	8	beta	beta	ADJ
fueconorg-10857	122	9	coefficient	coefficient	NOUN
fueconorg-10857	122	10	that	that	PRON
fueconorg-10857	122	11	represents	represent	VERB
fueconorg-10857	122	12	the	the	DET
fueconorg-10857	122	13	representative	representative	NOUN
fueconorg-10857	122	14	of	of	ADP
fueconorg-10857	122	15	systemic	systemic	ADJ
fueconorg-10857	122	16	risk	risk	NOUN
fueconorg-10857	122	17	,	,	PUNCT
fueconorg-10857	122	18	i.e.	i.e.	X
fueconorg-10857	122	19	risks	risk	NOUN
fueconorg-10857	122	20	that	that	PRON
fueconorg-10857	122	21	can	can	AUX
fueconorg-10857	122	22	not	not	PART
fueconorg-10857	122	23	be	be	AUX
fueconorg-10857	122	24	eliminated	eliminate	VERB
fueconorg-10857	122	25	by	by	ADP
fueconorg-10857	122	26	diversification	diversification	NOUN
fueconorg-10857	122	27	.	.	PUNCT
fueconorg-10857	123	1	however	however	ADV
fueconorg-10857	123	2	,	,	PUNCT
fueconorg-10857	123	3	according	accord	VERB
fueconorg-10857	123	4	to	to	ADP
fueconorg-10857	123	5	other	other	ADJ
fueconorg-10857	123	6	research	research	NOUN
fueconorg-10857	123	7	,	,	PUNCT
fueconorg-10857	123	8	the	the	DET
fueconorg-10857	123	9	beta	beta	ADJ
fueconorg-10857	123	10	coefficient	coefficient	NOUN
fueconorg-10857	123	11	as	as	ADP
fueconorg-10857	123	12	the	the	DET
fueconorg-10857	123	13	only	only	ADJ
fueconorg-10857	123	14	risk	risk	NOUN
fueconorg-10857	123	15	component	component	NOUN
fueconorg-10857	123	16	in	in	ADP
fueconorg-10857	123	17	the	the	DET
fueconorg-10857	123	18	capm	capm	NOUN
fueconorg-10857	123	19	may	may	AUX
fueconorg-10857	123	20	also	also	ADV
fueconorg-10857	123	21	require	require	VERB
fueconorg-10857	123	22	the	the	DET
fueconorg-10857	123	23	addition	addition	NOUN
fueconorg-10857	123	24	of	of	ADP
fueconorg-10857	123	25	dividend	dividend	NOUN
fueconorg-10857	123	26	yield	yield	NOUN
fueconorg-10857	123	27	,	,	PUNCT
fueconorg-10857	123	28	company	company	NOUN
fueconorg-10857	123	29	size	size	NOUN
fueconorg-10857	123	30	,	,	PUNCT
fueconorg-10857	123	31	and	and	CCONJ
fueconorg-10857	123	32	skewness	skewness	NOUN
fueconorg-10857	123	33	,	,	PUNCT
fueconorg-10857	123	34	that	that	PRON
fueconorg-10857	123	35	are	be	AUX
fueconorg-10857	123	36	a	a	DET
fueconorg-10857	123	37	few	few	ADJ
fueconorg-10857	123	38	other	other	ADJ
fueconorg-10857	123	39	risk	risk	NOUN
fueconorg-10857	123	40	factors	factor	NOUN
fueconorg-10857	123	41	that	that	PRON
fueconorg-10857	123	42	can	can	AUX
fueconorg-10857	123	43	be	be	AUX
fueconorg-10857	123	44	used	use	VERB
fueconorg-10857	123	45	to	to	PART
fueconorg-10857	123	46	explain	explain	VERB
fueconorg-10857	123	47	asset	asset	NOUN
fueconorg-10857	123	48	returns	return	NOUN
fueconorg-10857	123	49	.	.	PUNCT
fueconorg-10857	124	1	additionally	additionally	ADV
fueconorg-10857	124	2	,	,	PUNCT
fueconorg-10857	124	3	contrary	contrary	ADV
fueconorg-10857	124	4	to	to	ADP
fueconorg-10857	124	5	one	one	NUM
fueconorg-10857	124	6	of	of	ADP
fueconorg-10857	124	7	the	the	DET
fueconorg-10857	124	8	capm	capm	PROPN
fueconorg-10857	124	9	assumptions	assumption	NOUN
fueconorg-10857	124	10	,	,	PUNCT
fueconorg-10857	124	11	there	there	PRON
fueconorg-10857	124	12	are	be	VERB
fueconorg-10857	124	13	real	real	ADJ
fueconorg-10857	124	14	-	-	PUNCT
fueconorg-10857	124	15	world	world	NOUN
fueconorg-10857	124	16	restrictions	restriction	NOUN
fueconorg-10857	124	17	on	on	ADP
fueconorg-10857	124	18	investor	investor	NOUN
fueconorg-10857	124	19	borrowing	borrowing	NOUN
fueconorg-10857	124	20	,	,	PUNCT
fueconorg-10857	124	21	such	such	ADJ
fueconorg-10857	124	22	as	as	ADP
fueconorg-10857	124	23	those	those	PRON
fueconorg-10857	124	24	regarding	regard	VERB
fueconorg-10857	124	25	short	short	ADJ
fueconorg-10857	124	26	selling	selling	NOUN
fueconorg-10857	124	27	(	(	PUNCT
fueconorg-10857	124	28	fernandez	fernandez	PROPN
fueconorg-10857	124	29	,	,	PUNCT
fueconorg-10857	124	30	2019	2019	NUM
fueconorg-10857	124	31	)	)	PUNCT
fueconorg-10857	124	32	.	.	PUNCT
fueconorg-10857	125	1	in	in	ADP
fueconorg-10857	125	2	this	this	DET
fueconorg-10857	125	3	research	research	NOUN
fueconorg-10857	125	4	,	,	PUNCT
fueconorg-10857	125	5	as	as	SCONJ
fueconorg-10857	125	6	mentioned	mention	VERB
fueconorg-10857	125	7	,	,	PUNCT
fueconorg-10857	125	8	we	we	PRON
fueconorg-10857	125	9	use	use	VERB
fueconorg-10857	125	10	selected	select	VERB
fueconorg-10857	125	11	shares	share	NOUN
fueconorg-10857	125	12	listed	list	VERB
fueconorg-10857	125	13	on	on	ADP
fueconorg-10857	125	14	the	the	DET
fueconorg-10857	125	15	belgrade	belgrade	PROPN
fueconorg-10857	125	16	stock	stock	PROPN
fueconorg-10857	125	17	exchange	exchange	PROPN
fueconorg-10857	125	18	,	,	PUNCT
fueconorg-10857	125	19	which	which	PRON
fueconorg-10857	125	20	are	be	AUX
fueconorg-10857	125	21	included	include	VERB
fueconorg-10857	125	22	in	in	ADP
fueconorg-10857	125	23	the	the	DET
fueconorg-10857	125	24	belexline	belexline	NOUN
fueconorg-10857	125	25	index	index	NOUN
fueconorg-10857	125	26	.	.	PUNCT
fueconorg-10857	126	1	in	in	ADP
fueconorg-10857	126	2	the	the	DET
fueconorg-10857	126	3	table	table	NOUN
fueconorg-10857	126	4	below	below	ADP
fueconorg-10857	126	5	we	we	PRON
fueconorg-10857	126	6	can	can	AUX
fueconorg-10857	126	7	see	see	VERB
fueconorg-10857	126	8	which	which	DET
fueconorg-10857	126	9	companies	company	NOUN
fueconorg-10857	126	10	were	be	AUX
fueconorg-10857	126	11	taken	take	VERB
fueconorg-10857	126	12	for	for	ADP
fueconorg-10857	126	13	analysis	analysis	NOUN
fueconorg-10857	126	14	and	and	CCONJ
fueconorg-10857	126	15	which	which	PRON
fueconorg-10857	126	16	their	their	PRON
fueconorg-10857	126	17	symbols	symbol	NOUN
fueconorg-10857	126	18	will	will	AUX
fueconorg-10857	126	19	be	be	AUX
fueconorg-10857	126	20	used	use	VERB
fueconorg-10857	126	21	in	in	ADP
fueconorg-10857	126	22	the	the	DET
fueconorg-10857	126	23	rest	rest	NOUN
fueconorg-10857	126	24	of	of	ADP
fueconorg-10857	126	25	the	the	DET
fueconorg-10857	126	26	research	research	NOUN
fueconorg-10857	126	27	.	.	PUNCT
fueconorg-10857	127	1	testing	testing	NOUN
fueconorg-10857	127	2	of	of	ADP
fueconorg-10857	127	3	applicability	applicability	NOUN
fueconorg-10857	127	4	of	of	ADP
fueconorg-10857	127	5	the	the	DET
fueconorg-10857	127	6	capm	capm	PROPN
fueconorg-10857	127	7	model	model	NOUN
fueconorg-10857	127	8	using	use	VERB
fueconorg-10857	127	9	selected	select	VERB
fueconorg-10857	127	10	stocks	stock	NOUN
fueconorg-10857	127	11	listed	list	VERB
fueconorg-10857	127	12	on	on	ADP
fueconorg-10857	127	13	the	the	DET
fueconorg-10857	127	14	belgrade	belgrade	PROPN
fueconorg-10857	127	15	stock	stock	PROPN
fueconorg-10857	127	16	exchange	exchange	PROPN
fueconorg-10857	127	17	189	189	NUM
fueconorg-10857	127	18	table	table	NOUN
fueconorg-10857	127	19	1	1	NUM
fueconorg-10857	127	20	stocks	stock	NOUN
fueconorg-10857	127	21	listed	list	VERB
fueconorg-10857	127	22	on	on	ADP
fueconorg-10857	127	23	the	the	DET
fueconorg-10857	127	24	belgrade	belgrade	PROPN
fueconorg-10857	127	25	stock	stock	PROPN
fueconorg-10857	127	26	exchange	exchange	PROPN
fueconorg-10857	127	27	aerodrom	aerodrom	PROPN
fueconorg-10857	127	28	nikola	nikola	PROPN
fueconorg-10857	127	29	tesla	tesla	PROPN
fueconorg-10857	127	30	a.d	a.d	PROPN
fueconorg-10857	127	31	.	.	PROPN
fueconorg-10857	127	32	aero	aero	PROPN
fueconorg-10857	127	33	nis	nis	PROPN
fueconorg-10857	127	34	a.d	a.d	PROPN
fueconorg-10857	127	35	.	.	PROPN
fueconorg-10857	127	36	nis	nis	PROPN
fueconorg-10857	127	37	enegroprojekt	enegroprojekt	PROPN
fueconorg-10857	127	38	holding	hold	VERB
fueconorg-10857	127	39	a.d	a.d	PROPN
fueconorg-10857	127	40	.	.	PROPN
fueconorg-10857	127	41	ehnl	ehnl	PROPN
fueconorg-10857	127	42	impol	impol	PROPN
fueconorg-10857	127	43	seval	seval	PROPN
fueconorg-10857	127	44	a.d	a.d	PROPN
fueconorg-10857	127	45	.	.	PROPN
fueconorg-10857	127	46	impl	impl	NOUN
fueconorg-10857	127	47	dunav	dunav	PROPN
fueconorg-10857	127	48	osiguranje	osiguranje	VERB
fueconorg-10857	127	49	a.d	a.d	PROPN
fueconorg-10857	127	50	.	.	PROPN
fueconorg-10857	128	1	dnos	dnos	PROPN
fueconorg-10857	128	2	komercijalna	komercijalna	PROPN
fueconorg-10857	128	3	banka	banka	PROPN
fueconorg-10857	128	4	a.d	a.d	PROPN
fueconorg-10857	128	5	.	.	PROPN
fueconorg-10857	128	6	kmbn	kmbn	PROPN
fueconorg-10857	128	7	messer	messer	PROPN
fueconorg-10857	128	8	tehnogas	tehnogas	PROPN
fueconorg-10857	128	9	a.d	a.d	PROPN
fueconorg-10857	128	10	.	.	PROPN
fueconorg-10857	128	11	tgas	tgas	PROPN
fueconorg-10857	128	12	jedinstvo	jedinstvo	PROPN
fueconorg-10857	128	13	a.d	a.d	PROPN
fueconorg-10857	128	14	.	.	PROPN
fueconorg-10857	128	15	jesv	jesv	PROPN
fueconorg-10857	128	16	ams	ams	PROPN
fueconorg-10857	128	17	osiguranje	osiguranje	PROPN
fueconorg-10857	128	18	a.d	a.d	PROPN
fueconorg-10857	128	19	.	.	PROPN
fueconorg-10857	128	20	amso	amso	PROPN
fueconorg-10857	128	21	lasta	lasta	PROPN
fueconorg-10857	128	22	a.d	a.d	PROPN
fueconorg-10857	128	23	.	.	PROPN
fueconorg-10857	128	24	lsta	lsta	PROPN
fueconorg-10857	128	25	source	source	PROPN
fueconorg-10857	128	26	:	:	PUNCT
fueconorg-10857	128	27	belgrade	belgrade	PROPN
fueconorg-10857	128	28	stock	stock	PROPN
fueconorg-10857	128	29	exchange	exchange	PROPN
fueconorg-10857	128	30	as	as	SCONJ
fueconorg-10857	128	31	we	we	PRON
fueconorg-10857	128	32	can	can	AUX
fueconorg-10857	128	33	see	see	VERB
fueconorg-10857	128	34	in	in	ADP
fueconorg-10857	128	35	the	the	DET
fueconorg-10857	128	36	paper	paper	NOUN
fueconorg-10857	128	37	,	,	PUNCT
fueconorg-10857	128	38	we	we	PRON
fueconorg-10857	128	39	used	use	VERB
fueconorg-10857	128	40	ten	ten	NUM
fueconorg-10857	128	41	companies	company	NOUN
fueconorg-10857	128	42	listed	list	VERB
fueconorg-10857	128	43	on	on	ADP
fueconorg-10857	128	44	the	the	DET
fueconorg-10857	128	45	belgrade	belgrade	PROPN
fueconorg-10857	128	46	stock	stock	PROPN
fueconorg-10857	128	47	exchange	exchange	PROPN
fueconorg-10857	128	48	,	,	PUNCT
fueconorg-10857	128	49	where	where	SCONJ
fueconorg-10857	128	50	we	we	PRON
fueconorg-10857	128	51	used	use	VERB
fueconorg-10857	128	52	data	datum	NOUN
fueconorg-10857	128	53	on	on	ADP
fueconorg-10857	128	54	the	the	DET
fueconorg-10857	128	55	return	return	NOUN
fueconorg-10857	128	56	of	of	ADP
fueconorg-10857	128	57	shares	share	NOUN
fueconorg-10857	128	58	in	in	ADP
fueconorg-10857	128	59	the	the	DET
fueconorg-10857	128	60	period	period	NOUN
fueconorg-10857	128	61	from	from	ADP
fueconorg-10857	128	62	january	january	PROPN
fueconorg-10857	128	63	2011	2011	NUM
fueconorg-10857	128	64	to	to	ADP
fueconorg-10857	128	65	december	december	PROPN
fueconorg-10857	128	66	2021	2021	NUM
fueconorg-10857	128	67	to	to	PART
fueconorg-10857	128	68	calculate	calculate	VERB
fueconorg-10857	128	69	the	the	DET
fueconorg-10857	128	70	exposure	exposure	NOUN
fueconorg-10857	128	71	to	to	ADP
fueconorg-10857	128	72	systemic	systemic	ADJ
fueconorg-10857	128	73	risk	risk	NOUN
fueconorg-10857	128	74	according	accord	VERB
fueconorg-10857	128	75	to	to	ADP
fueconorg-10857	128	76	the	the	DET
fueconorg-10857	128	77	capm	capm	PROPN
fueconorg-10857	128	78	model	model	NOUN
fueconorg-10857	128	79	.	.	PUNCT
fueconorg-10857	129	1	expected	expect	VERB
fueconorg-10857	129	2	stock	stock	NOUN
fueconorg-10857	129	3	returns	return	NOUN
fueconorg-10857	129	4	are	be	AUX
fueconorg-10857	129	5	determined	determine	VERB
fueconorg-10857	129	6	by	by	ADP
fueconorg-10857	129	7	their	their	PRON
fueconorg-10857	129	8	matching	matching	NOUN
fueconorg-10857	129	9	amount	amount	NOUN
fueconorg-10857	129	10	of	of	ADP
fueconorg-10857	129	11	systematic	systematic	ADJ
fueconorg-10857	129	12	risk	risk	NOUN
fueconorg-10857	129	13	,	,	PUNCT
fueconorg-10857	129	14	or	or	CCONJ
fueconorg-10857	129	15	ß	ß	NOUN
fueconorg-10857	129	16	,	,	PUNCT
fueconorg-10857	129	17	according	accord	VERB
fueconorg-10857	129	18	to	to	ADP
fueconorg-10857	129	19	the	the	DET
fueconorg-10857	129	20	model	model	NOUN
fueconorg-10857	129	21	.	.	PUNCT
fueconorg-10857	130	1	to	to	PART
fueconorg-10857	130	2	put	put	VERB
fueconorg-10857	130	3	it	it	PRON
fueconorg-10857	130	4	another	another	DET
fueconorg-10857	130	5	way	way	NOUN
fueconorg-10857	130	6	,	,	PUNCT
fueconorg-10857	130	7	the	the	DET
fueconorg-10857	130	8	market	market	NOUN
fueconorg-10857	130	9	does	do	AUX
fueconorg-10857	130	10	not	not	PART
fueconorg-10857	130	11	reward	reward	VERB
fueconorg-10857	130	12	risk	risk	NOUN
fueconorg-10857	130	13	that	that	PRON
fueconorg-10857	130	14	is	be	AUX
fueconorg-10857	130	15	taken	take	VERB
fueconorg-10857	130	16	unnecessarily	unnecessarily	ADV
fueconorg-10857	130	17	.	.	PUNCT
fueconorg-10857	131	1	the	the	DET
fueconorg-10857	131	2	model	model	NOUN
fueconorg-10857	131	3	can	can	AUX
fueconorg-10857	131	4	be	be	AUX
fueconorg-10857	131	5	used	use	VERB
fueconorg-10857	131	6	to	to	PART
fueconorg-10857	131	7	calculate	calculate	VERB
fueconorg-10857	131	8	the	the	DET
fueconorg-10857	131	9	cost	cost	NOUN
fueconorg-10857	131	10	of	of	ADP
fueconorg-10857	131	11	capital	capital	NOUN
fueconorg-10857	131	12	,	,	PUNCT
fueconorg-10857	131	13	conduct	conduct	VERB
fueconorg-10857	131	14	event	event	NOUN
fueconorg-10857	131	15	studies	study	NOUN
fueconorg-10857	131	16	,	,	PUNCT
fueconorg-10857	131	17	and	and	CCONJ
fueconorg-10857	131	18	manage	manage	VERB
fueconorg-10857	131	19	and	and	CCONJ
fueconorg-10857	131	20	appraise	appraise	NOUN
fueconorg-10857	131	21	portfolios	portfolio	NOUN
fueconorg-10857	131	22	,	,	PUNCT
fueconorg-10857	131	23	among	among	ADP
fueconorg-10857	131	24	other	other	ADJ
fueconorg-10857	131	25	things	thing	NOUN
fueconorg-10857	131	26	.	.	PUNCT
fueconorg-10857	132	1	economists	economist	NOUN
fueconorg-10857	132	2	have	have	AUX
fueconorg-10857	132	3	been	be	AUX
fueconorg-10857	132	4	able	able	ADJ
fueconorg-10857	132	5	to	to	PART
fueconorg-10857	132	6	quantify	quantify	VERB
fueconorg-10857	132	7	risk	risk	NOUN
fueconorg-10857	132	8	and	and	CCONJ
fueconorg-10857	132	9	the	the	DET
fueconorg-10857	132	10	payoff	payoff	NOUN
fueconorg-10857	132	11	for	for	ADP
fueconorg-10857	132	12	taking	take	VERB
fueconorg-10857	132	13	it	it	PRON
fueconorg-10857	132	14	on	on	ADP
fueconorg-10857	132	15	(	(	PUNCT
fueconorg-10857	132	16	ansari	ansari	ADJ
fueconorg-10857	132	17	,	,	PUNCT
fueconorg-10857	132	18	2000	2000	NUM
fueconorg-10857	132	19	,	,	PUNCT
fueconorg-10857	132	20	p.	p.	NOUN
fueconorg-10857	132	21	55	55	NUM
fueconorg-10857	132	22	-	-	SYM
fueconorg-10857	132	23	64	64	NUM
fueconorg-10857	132	24	)	)	PUNCT
fueconorg-10857	132	25	.	.	PUNCT
fueconorg-10857	133	1	divide	divide	VERB
fueconorg-10857	133	2	the	the	DET
fueconorg-10857	133	3	final	final	ADJ
fueconorg-10857	133	4	index	index	NOUN
fueconorg-10857	133	5	or	or	CCONJ
fueconorg-10857	133	6	stock	stock	NOUN
fueconorg-10857	133	7	value	value	NOUN
fueconorg-10857	133	8	by	by	ADP
fueconorg-10857	133	9	the	the	DET
fueconorg-10857	133	10	beginning	beginning	NOUN
fueconorg-10857	133	11	value	value	NOUN
fueconorg-10857	133	12	and	and	CCONJ
fueconorg-10857	133	13	remove	remove	VERB
fueconorg-10857	133	14	one	one	NUM
fueconorg-10857	133	15	to	to	PART
fueconorg-10857	133	16	get	get	VERB
fueconorg-10857	133	17	the	the	DET
fueconorg-10857	133	18	returns	return	NOUN
fueconorg-10857	133	19	.	.	PUNCT
fueconorg-10857	134	1	subtracting	subtract	VERB
fueconorg-10857	134	2	the	the	DET
fueconorg-10857	134	3	beginning	beginning	NOUN
fueconorg-10857	134	4	value	value	NOUN
fueconorg-10857	134	5	from	from	ADP
fueconorg-10857	134	6	the	the	DET
fueconorg-10857	134	7	finishing	finish	VERB
fueconorg-10857	134	8	value	value	NOUN
fueconorg-10857	134	9	and	and	CCONJ
fueconorg-10857	134	10	dividing	divide	VERB
fueconorg-10857	134	11	it	it	PRON
fueconorg-10857	134	12	by	by	ADP
fueconorg-10857	134	13	the	the	DET
fueconorg-10857	134	14	beginning	beginning	NOUN
fueconorg-10857	134	15	value	value	NOUN
fueconorg-10857	134	16	is	be	AUX
fueconorg-10857	134	17	another	another	DET
fueconorg-10857	134	18	way	way	NOUN
fueconorg-10857	134	19	to	to	PART
fueconorg-10857	134	20	calculate	calculate	VERB
fueconorg-10857	134	21	the	the	DET
fueconorg-10857	134	22	return	return	NOUN
fueconorg-10857	134	23	(	(	PUNCT
fueconorg-10857	134	24	gardner	gardner	NOUN
fueconorg-10857	134	25	,	,	PUNCT
fueconorg-10857	134	26	mcgowan	mcgowan	PROPN
fueconorg-10857	134	27	&	&	CCONJ
fueconorg-10857	134	28	moeller	moeller	PROPN
fueconorg-10857	134	29	,	,	PUNCT
fueconorg-10857	134	30	2010	2010	NUM
fueconorg-10857	134	31	)	)	PUNCT
fueconorg-10857	134	32	.	.	PUNCT
fueconorg-10857	135	1	the	the	DET
fueconorg-10857	135	2	second	second	ADJ
fueconorg-10857	135	3	way	way	NOUN
fueconorg-10857	135	4	is	be	AUX
fueconorg-10857	135	5	used	use	VERB
fueconorg-10857	135	6	in	in	ADP
fueconorg-10857	135	7	this	this	DET
fueconorg-10857	135	8	research	research	NOUN
fueconorg-10857	135	9	.	.	PUNCT
fueconorg-10857	136	1	since	since	SCONJ
fueconorg-10857	136	2	we	we	PRON
fueconorg-10857	136	3	are	be	AUX
fueconorg-10857	136	4	testing	test	VERB
fueconorg-10857	136	5	the	the	DET
fueconorg-10857	136	6	capm	capm	PROPN
fueconorg-10857	136	7	model	model	NOUN
fueconorg-10857	136	8	itself	itself	PRON
fueconorg-10857	136	9	,	,	PUNCT
fueconorg-10857	136	10	we	we	PRON
fueconorg-10857	136	11	need	need	VERB
fueconorg-10857	136	12	to	to	PART
fueconorg-10857	136	13	present	present	VERB
fueconorg-10857	136	14	the	the	DET
fueconorg-10857	136	15	model	model	NOUN
fueconorg-10857	136	16	itself	itself	PRON
fueconorg-10857	136	17	in	in	ADP
fueconorg-10857	136	18	the	the	DET
fueconorg-10857	136	19	following	follow	VERB
fueconorg-10857	136	20	formula	formula	NOUN
fueconorg-10857	136	21	.	.	PUNCT
fueconorg-10857	137	1	(	(	PUNCT
fueconorg-10857	137	2	)	)	PUNCT
fueconorg-10857	137	3	(	(	PUNCT
fueconorg-10857	137	4	(	(	PUNCT
fueconorg-10857	137	5	)	)	PUNCT
fueconorg-10857	137	6	)	)	PUNCT
fueconorg-10857	138	1	capm	capm	NOUN
fueconorg-10857	138	2	ers	er	NOUN
fueconorg-10857	138	3	rf	rf	PROPN
fueconorg-10857	138	4	e	e	X
fueconorg-10857	138	5	rm	rm	NOUN
fueconorg-10857	138	6	rf=	rf=	PROPN
fueconorg-10857	138	7	+	+	CCONJ
fueconorg-10857	138	8	−	−	PROPN
fueconorg-10857	138	9	(	(	PUNCT
fueconorg-10857	138	10	3	3	X
fueconorg-10857	138	11	)	)	PUNCT
fueconorg-10857	138	12	capm	capm	NOUN
fueconorg-10857	138	13	(	(	PUNCT
fueconorg-10857	138	14	ers	ers	PROPN
fueconorg-10857	138	15	)	)	PUNCT
fueconorg-10857	138	16	–	–	PUNCT
fueconorg-10857	138	17	expected	expect	VERB
fueconorg-10857	138	18	returns	return	NOUN
fueconorg-10857	138	19	of	of	ADP
fueconorg-10857	138	20	the	the	DET
fueconorg-10857	138	21	stock	stock	NOUN
fueconorg-10857	138	22	(	(	PUNCT
fueconorg-10857	138	23	security	security	NOUN
fueconorg-10857	138	24	)	)	PUNCT
fueconorg-10857	138	25	using	use	VERB
fueconorg-10857	138	26	the	the	DET
fueconorg-10857	138	27	model	model	NOUN
fueconorg-10857	138	28	rf	rf	NOUN
fueconorg-10857	138	29	–	–	PUNCT
fueconorg-10857	138	30	risk	risk	NOUN
fueconorg-10857	138	31	-	-	PUNCT
fueconorg-10857	138	32	free	free	ADJ
fueconorg-10857	138	33	rate	rate	NOUN
fueconorg-10857	138	34	β	β	X
fueconorg-10857	138	35	–	–	PUNCT
fueconorg-10857	138	36	beta	beta	ADJ
fueconorg-10857	138	37	coefficient	coefficient	NOUN
fueconorg-10857	138	38	rm	rm	PROPN
fueconorg-10857	138	39	–	–	PUNCT
fueconorg-10857	138	40	return	return	NOUN
fueconorg-10857	138	41	of	of	ADP
fueconorg-10857	138	42	the	the	DET
fueconorg-10857	138	43	market	market	NOUN
fueconorg-10857	138	44	(	(	PUNCT
fueconorg-10857	138	45	e(rm	e(rm	PROPN
fueconorg-10857	138	46	)	)	PUNCT
fueconorg-10857	138	47	–	–	PUNCT
fueconorg-10857	138	48	rf	rf	NUM
fueconorg-10857	138	49	)	)	PUNCT
fueconorg-10857	138	50	–	–	PUNCT
fueconorg-10857	138	51	market	market	NOUN
fueconorg-10857	138	52	premium	premium	NOUN
fueconorg-10857	138	53	sml	sml	PROPN
fueconorg-10857	138	54	(	(	PUNCT
fueconorg-10857	138	55	security	security	NOUN
fueconorg-10857	138	56	market	market	NOUN
fueconorg-10857	138	57	line	line	NOUN
fueconorg-10857	138	58	)	)	PUNCT
fueconorg-10857	138	59	is	be	AUX
fueconorg-10857	138	60	the	the	DET
fueconorg-10857	138	61	graphic	graphic	ADJ
fueconorg-10857	138	62	depiction	depiction	NOUN
fueconorg-10857	138	63	of	of	ADP
fueconorg-10857	138	64	the	the	DET
fueconorg-10857	138	65	capm	capm	PROPN
fueconorg-10857	138	66	model	model	NOUN
fueconorg-10857	138	67	.	.	PUNCT
fueconorg-10857	139	1	according	accord	VERB
fueconorg-10857	139	2	to	to	ADP
fueconorg-10857	139	3	the	the	DET
fueconorg-10857	139	4	sml	sml	PROPN
fueconorg-10857	139	5	,	,	PUNCT
fueconorg-10857	139	6	the	the	DET
fueconorg-10857	139	7	desired	desire	VERB
fueconorg-10857	139	8	rate	rate	NOUN
fueconorg-10857	139	9	of	of	ADP
fueconorg-10857	139	10	return	return	NOUN
fueconorg-10857	139	11	on	on	ADP
fueconorg-10857	139	12	an	an	DET
fueconorg-10857	139	13	asset	asset	NOUN
fueconorg-10857	139	14	is	be	AUX
fueconorg-10857	139	15	determined	determine	VERB
fueconorg-10857	139	16	by	by	ADP
fueconorg-10857	139	17	its	its	PRON
fueconorg-10857	139	18	beta	beta	NOUN
fueconorg-10857	139	19	,	,	PUNCT
fueconorg-10857	139	20	or	or	CCONJ
fueconorg-10857	139	21	market	market	NOUN
fueconorg-10857	139	22	risk	risk	NOUN
fueconorg-10857	139	23	(	(	PUNCT
fueconorg-10857	139	24	systematic	systematic	NOUN
fueconorg-10857	139	25	)	)	PUNCT
fueconorg-10857	139	26	,	,	PUNCT
fueconorg-10857	139	27	risk	risk	NOUN
fueconorg-10857	139	28	-	-	PUNCT
fueconorg-10857	139	29	free	free	ADJ
fueconorg-10857	139	30	rate	rate	NOUN
fueconorg-10857	139	31	of	of	ADP
fueconorg-10857	139	32	return	return	NOUN
fueconorg-10857	139	33	(	(	PUNCT
fueconorg-10857	139	34	rf	rf	NOUN
fueconorg-10857	139	35	)	)	PUNCT
fueconorg-10857	139	36	,	,	PUNCT
fueconorg-10857	139	37	and	and	CCONJ
fueconorg-10857	139	38	market	market	NOUN
fueconorg-10857	139	39	risk	risk	NOUN
fueconorg-10857	139	40	premium	premium	NOUN
fueconorg-10857	139	41	(	(	PUNCT
fueconorg-10857	139	42	e(rm	e(rm	PROPN
fueconorg-10857	139	43	)	)	PUNCT
fueconorg-10857	139	44	−	−	PROPN
fueconorg-10857	139	45	rf	rf	NOUN
fueconorg-10857	139	46	)	)	PUNCT
fueconorg-10857	139	47	.	.	PUNCT
fueconorg-10857	140	1	as	as	ADP
fueconorg-10857	140	2	a	a	DET
fueconorg-10857	140	3	result	result	NOUN
fueconorg-10857	140	4	of	of	ADP
fueconorg-10857	140	5	changing	change	VERB
fueconorg-10857	140	6	the	the	DET
fueconorg-10857	140	7	desired	desire	VERB
fueconorg-10857	140	8	rate	rate	NOUN
fueconorg-10857	140	9	of	of	ADP
fueconorg-10857	140	10	return	return	NOUN
fueconorg-10857	140	11	under	under	ADP
fueconorg-10857	140	12	the	the	DET
fueconorg-10857	140	13	effect	effect	NOUN
fueconorg-10857	140	14	of	of	ADP
fueconorg-10857	140	15	changes	change	NOUN
fueconorg-10857	140	16	in	in	ADP
fueconorg-10857	140	17	the	the	DET
fueconorg-10857	140	18	nominal	nominal	ADJ
fueconorg-10857	140	19	rate	rate	NOUN
fueconorg-10857	140	20	of	of	ADP
fueconorg-10857	140	21	return	return	NOUN
fueconorg-10857	140	22	without	without	ADP
fueconorg-10857	140	23	risk	risk	NOUN
fueconorg-10857	140	24	,	,	PUNCT
fueconorg-10857	140	25	beta	beta	NOUN
fueconorg-10857	140	26	,	,	PUNCT
fueconorg-10857	140	27	or	or	CCONJ
fueconorg-10857	140	28	market	market	NOUN
fueconorg-10857	140	29	risk	risk	NOUN
fueconorg-10857	140	30	premium	premium	NOUN
fueconorg-10857	140	31	,	,	PUNCT
fueconorg-10857	140	32	the	the	DET
fueconorg-10857	140	33	sml	sml	PROPN
fueconorg-10857	140	34	equation	equation	NOUN
fueconorg-10857	140	35	indicates	indicate	VERB
fueconorg-10857	140	36	that	that	SCONJ
fueconorg-10857	140	37	the	the	DET
fueconorg-10857	140	38	share	share	NOUN
fueconorg-10857	140	39	price	price	NOUN
fueconorg-10857	140	40	can	can	AUX
fueconorg-10857	140	41	vary	vary	VERB
fueconorg-10857	140	42	even	even	ADV
fueconorg-10857	140	43	if	if	SCONJ
fueconorg-10857	140	44	the	the	DET
fueconorg-10857	140	45	company	company	NOUN
fueconorg-10857	140	46	's	's	PART
fueconorg-10857	140	47	cash	cash	NOUN
fueconorg-10857	140	48	flows	flow	NOUN
fueconorg-10857	140	49	do	do	AUX
fueconorg-10857	140	50	not	not	PART
fueconorg-10857	140	51	change	change	VERB
fueconorg-10857	140	52	.	.	PUNCT
fueconorg-10857	141	1	190	190	NUM
fueconorg-10857	141	2	m.	m.	NOUN
fueconorg-10857	141	3	đaković	đaković	NOUN
fueconorg-10857	141	4	,	,	PUNCT
fueconorg-10857	141	5	j.	j.	PROPN
fueconorg-10857	141	6	andrašić	andrašić	PROPN
fueconorg-10857	141	7	,	,	PUNCT
fueconorg-10857	141	8	d.	d.	PROPN
fueconorg-10857	141	9	cicmil	cicmil	PROPN
fueconorg-10857	141	10	fig	fig	PROPN
fueconorg-10857	141	11	.	.	PUNCT
fueconorg-10857	142	1	2	2	NUM
fueconorg-10857	142	2	security	security	NOUN
fueconorg-10857	142	3	market	market	NOUN
fueconorg-10857	142	4	line	line	NOUN
fueconorg-10857	142	5	(	(	PUNCT
fueconorg-10857	142	6	sml	sml	PROPN
fueconorg-10857	142	7	)	)	PUNCT
fueconorg-10857	142	8	source	source	NOUN
fueconorg-10857	142	9	:	:	PUNCT
fueconorg-10857	142	10	https://assignmentpoint.com/security-market-line-sml/	https://assignmentpoint.com/security-market-line-sml/	PROPN
fueconorg-10857	142	11	4	4	NUM
fueconorg-10857	142	12	.	.	NUM
fueconorg-10857	142	13	findings	finding	NOUN
fueconorg-10857	142	14	and	and	CCONJ
fueconorg-10857	142	15	discussion	discussion	NOUN
fueconorg-10857	142	16	in	in	ADP
fueconorg-10857	142	17	this	this	DET
fueconorg-10857	142	18	part	part	NOUN
fueconorg-10857	142	19	of	of	ADP
fueconorg-10857	142	20	the	the	DET
fueconorg-10857	142	21	research	research	NOUN
fueconorg-10857	142	22	,	,	PUNCT
fueconorg-10857	142	23	we	we	PRON
fueconorg-10857	142	24	present	present	VERB
fueconorg-10857	142	25	the	the	DET
fueconorg-10857	142	26	obtained	obtain	VERB
fueconorg-10857	142	27	results	result	NOUN
fueconorg-10857	142	28	and	and	CCONJ
fueconorg-10857	142	29	discussthem	discussthem	NOUN
fueconorg-10857	142	30	.	.	PUNCT
fueconorg-10857	143	1	the	the	DET
fueconorg-10857	143	2	pspp	pspp	PROPN
fueconorg-10857	143	3	statistical	statistical	ADJ
fueconorg-10857	143	4	program	program	NOUN
fueconorg-10857	143	5	was	be	AUX
fueconorg-10857	143	6	used	use	VERB
fueconorg-10857	143	7	in	in	ADP
fueconorg-10857	143	8	the	the	DET
fueconorg-10857	143	9	calculation	calculation	NOUN
fueconorg-10857	143	10	of	of	ADP
fueconorg-10857	143	11	the	the	DET
fueconorg-10857	143	12	obtained	obtain	VERB
fueconorg-10857	143	13	results	result	NOUN
fueconorg-10857	143	14	.	.	PUNCT
fueconorg-10857	144	1	in	in	ADP
fueconorg-10857	144	2	the	the	DET
fueconorg-10857	144	3	first	first	ADJ
fueconorg-10857	144	4	part	part	NOUN
fueconorg-10857	144	5	of	of	ADP
fueconorg-10857	144	6	this	this	DET
fueconorg-10857	144	7	chapter	chapter	NOUN
fueconorg-10857	144	8	,	,	PUNCT
fueconorg-10857	144	9	we	we	PRON
fueconorg-10857	144	10	present	present	VERB
fueconorg-10857	144	11	descriptive	descriptive	ADJ
fueconorg-10857	144	12	statistics	statistic	NOUN
fueconorg-10857	144	13	of	of	ADP
fueconorg-10857	144	14	the	the	DET
fueconorg-10857	144	15	shares	share	NOUN
fueconorg-10857	144	16	used	use	VERB
fueconorg-10857	144	17	in	in	ADP
fueconorg-10857	144	18	the	the	DET
fueconorg-10857	144	19	research	research	NOUN
fueconorg-10857	144	20	as	as	ADV
fueconorg-10857	144	21	well	well	ADV
fueconorg-10857	144	22	as	as	ADP
fueconorg-10857	144	23	the	the	DET
fueconorg-10857	144	24	market	market	NOUN
fueconorg-10857	144	25	index	index	NOUN
fueconorg-10857	144	26	.	.	PUNCT
fueconorg-10857	145	1	table	table	NOUN
fueconorg-10857	145	2	2	2	NUM
fueconorg-10857	145	3	descriptive	descriptive	ADJ
fueconorg-10857	145	4	statistics	statistic	NOUN
fueconorg-10857	145	5	mean	mean	VERB
fueconorg-10857	145	6	standard	standard	ADJ
fueconorg-10857	145	7	error	error	NOUN
fueconorg-10857	145	8	median	median	NOUN
fueconorg-10857	145	9	standard	standard	ADJ
fueconorg-10857	145	10	deviation	deviation	NOUN
fueconorg-10857	145	11	minimum	minimum	ADJ
fueconorg-10857	145	12	maximum	maximum	ADJ
fueconorg-10857	145	13	count	count	NOUN
fueconorg-10857	145	14	belex	belex	ADJ
fueconorg-10857	145	15	line	line	NOUN
fueconorg-10857	145	16	1375.882	1375.882	PROPN
fueconorg-10857	145	17	21.11682	21.11682	NUM
fueconorg-10857	145	18	1434.37	1434.37	NUM
fueconorg-10857	145	19	242.6138	242.6138	NUM
fueconorg-10857	145	20	858.41	858.41	NUM
fueconorg-10857	145	21	1733.14	1733.14	NUM
fueconorg-10857	145	22	132	132	NUM
fueconorg-10857	145	23	aero	aero	PROPN
fueconorg-10857	145	24	909.7204	909.7204	NUM
fueconorg-10857	145	25	32.63811	32.63811	NUM
fueconorg-10857	145	26	907.6091	907.6091	NUM
fueconorg-10857	145	27	374.9833	374.9833	NUM
fueconorg-10857	145	28	386.381	386.381	NUM
fueconorg-10857	145	29	1801.65	1801.65	NUM
fueconorg-10857	145	30	132	132	NUM
fueconorg-10857	145	31	nis	nis	NOUN
fueconorg-10857	145	32	694.2481	694.2481	NUM
fueconorg-10857	145	33	9.468468	9.468468	NUM
fueconorg-10857	145	34	683.4762	683.4762	NUM
fueconorg-10857	145	35	108.3716	108.3716	NUM
fueconorg-10857	145	36	482.2632	482.2632	NUM
fueconorg-10857	145	37	966.36364	966.36364	NUM
fueconorg-10857	145	38	132	132	NUM
fueconorg-10857	145	39	ehnl	ehnl	VERB
fueconorg-10857	145	40	775.1323	775.1323	NUM
fueconorg-10857	145	41	26.59373	26.59373	NUM
fueconorg-10857	145	42	705.1579	705.1579	NUM
fueconorg-10857	145	43	304.3791	304.3791	NUM
fueconorg-10857	145	44	326.1905	326.1905	NUM
fueconorg-10857	145	45	1489.8889	1489.8889	NUM
fueconorg-10857	145	46	132	132	NUM
fueconorg-10857	145	47	impl	impl	NOUN
fueconorg-10857	145	48	2090.748	2090.748	NUM
fueconorg-10857	145	49	107.2683	107.2683	NUM
fueconorg-10857	145	50	1736.1	1736.1	NUM
fueconorg-10857	145	51	1227.742	1227.742	NUM
fueconorg-10857	145	52	584.95	584.95	NUM
fueconorg-10857	145	53	4012.7391	4012.7391	NOUN
fueconorg-10857	145	54	132	132	NUM
fueconorg-10857	145	55	dnos	dno	NOUN
fueconorg-10857	145	56	1546.611	1546.611	NUM
fueconorg-10857	145	57	84.17999	84.17999	NUM
fueconorg-10857	145	58	1164.834	1164.834	NUM
fueconorg-10857	146	1	967.1545	967.1545	NUM
fueconorg-10857	146	2	538.1	538.1	NUM
fueconorg-10857	146	3	3936.2105	3936.2105	NOUN
fueconorg-10857	146	4	132	132	NUM
fueconorg-10857	146	5	kmnb	kmnb	NOUN
fueconorg-10857	146	6	2160.63	2160.63	NUM
fueconorg-10857	146	7	64.27649	64.27649	NUM
fueconorg-10857	146	8	1889.297	1889.297	NUM
fueconorg-10857	146	9	738.4806	738.4806	NUM
fueconorg-10857	146	10	994.7391	994.7391	NUM
fueconorg-10857	146	11	4368.0909	4368.0909	NUM
fueconorg-10857	146	12	132	132	NUM
fueconorg-10857	146	13	tgas	tgas	NOUN
fueconorg-10857	146	14	9044.952	9044.952	NUM
fueconorg-10857	146	15	335.7279	335.7279	NUM
fueconorg-10857	146	16	8746.1	8746.1	NUM
fueconorg-10857	146	17	3857.22	3857.22	NUM
fueconorg-10857	146	18	3132.45	3132.45	NUM
fueconorg-10857	146	19	16566.818	16566.818	NUM
fueconorg-10857	146	20	132	132	NUM
fueconorg-10857	146	21	jesv	jesv	NOUN
fueconorg-10857	146	22	5385.555	5385.555	NUM
fueconorg-10857	146	23	98.49262	98.49262	NUM
fueconorg-10857	146	24	5074.601	5074.601	NUM
fueconorg-10857	146	25	1131.594	1131.594	NUM
fueconorg-10857	146	26	3826.696	3826.696	NUM
fueconorg-10857	146	27	8863.6364	8863.6364	NUM
fueconorg-10857	146	28	132	132	NUM
fueconorg-10857	146	29	amso	amso	NOUN
fueconorg-10857	146	30	542.3225	542.3225	NUM
fueconorg-10857	146	31	33.9663	33.9663	NUM
fueconorg-10857	146	32	420.0000	420.0000	NUM
fueconorg-10857	146	33	390.2433	390.2433	NUM
fueconorg-10857	146	34	114.0000	114.0000	NUM
fueconorg-10857	146	35	1886.0909	1886.0909	NUM
fueconorg-10857	146	36	132	132	NUM
fueconorg-10857	146	37	lsta	lsta	NOUN
fueconorg-10857	146	38	462.6345	462.6345	NUM
fueconorg-10857	146	39	18.22758	18.22758	NUM
fueconorg-10857	146	40	420.445	420.445	NUM
fueconorg-10857	146	41	209.419	209.419	NUM
fueconorg-10857	146	42	200	200	NUM
fueconorg-10857	146	43	1147.1053	1147.1053	NUM
fueconorg-10857	146	44	132	132	NUM
fueconorg-10857	146	45	source	source	NOUN
fueconorg-10857	146	46	:	:	PUNCT
fueconorg-10857	146	47	belgrade	belgrade	PROPN
fueconorg-10857	146	48	stock	stock	PROPN
fueconorg-10857	146	49	exchange	exchange	PROPN
fueconorg-10857	146	50	in	in	ADP
fueconorg-10857	146	51	the	the	DET
fueconorg-10857	146	52	table	table	NOUN
fueconorg-10857	146	53	above	above	ADP
fueconorg-10857	146	54	we	we	PRON
fueconorg-10857	146	55	see	see	VERB
fueconorg-10857	146	56	data	datum	NOUN
fueconorg-10857	146	57	on	on	ADP
fueconorg-10857	146	58	the	the	DET
fueconorg-10857	146	59	prices	price	NOUN
fueconorg-10857	146	60	of	of	ADP
fueconorg-10857	146	61	selected	select	VERB
fueconorg-10857	146	62	shares	share	NOUN
fueconorg-10857	146	63	.	.	PUNCT
fueconorg-10857	147	1	the	the	DET
fueconorg-10857	147	2	subject	subject	NOUN
fueconorg-10857	147	3	of	of	ADP
fueconorg-10857	147	4	the	the	DET
fueconorg-10857	147	5	analysis	analysis	NOUN
fueconorg-10857	147	6	was	be	AUX
fueconorg-10857	147	7	the	the	DET
fueconorg-10857	147	8	share	share	NOUN
fueconorg-10857	147	9	prices	price	NOUN
fueconorg-10857	147	10	in	in	ADP
fueconorg-10857	147	11	the	the	DET
fueconorg-10857	147	12	period	period	NOUN
fueconorg-10857	147	13	from	from	ADP
fueconorg-10857	147	14	2011	2011	NUM
fueconorg-10857	147	15	to	to	ADP
fueconorg-10857	147	16	2021	2021	NUM
fueconorg-10857	147	17	(	(	PUNCT
fueconorg-10857	147	18	monthly	monthly	ADJ
fueconorg-10857	147	19	data	datum	NOUN
fueconorg-10857	147	20	)	)	PUNCT
fueconorg-10857	147	21	.	.	PUNCT
fueconorg-10857	148	1	we	we	PRON
fueconorg-10857	148	2	notice	notice	VERB
fueconorg-10857	148	3	looking	look	VERB
fueconorg-10857	148	4	at	at	ADP
fueconorg-10857	148	5	the	the	DET
fueconorg-10857	148	6	level	level	NOUN
fueconorg-10857	148	7	of	of	ADP
fueconorg-10857	148	8	standard	standard	ADJ
fueconorg-10857	148	9	deviation	deviation	NOUN
fueconorg-10857	148	10	as	as	ADP
fueconorg-10857	148	11	a	a	DET
fueconorg-10857	148	12	representative	representative	NOUN
fueconorg-10857	148	13	of	of	ADP
fueconorg-10857	148	14	the	the	DET
fueconorg-10857	148	15	risk	risk	NOUN
fueconorg-10857	148	16	that	that	SCONJ
fueconorg-10857	148	17	the	the	DET
fueconorg-10857	148	18	shares	share	NOUN
fueconorg-10857	148	19	of	of	ADP
fueconorg-10857	148	20	impl	impl	NOUN
fueconorg-10857	148	21	,	,	PUNCT
fueconorg-10857	148	22	jesv	jesv	NOUN
fueconorg-10857	148	23	,	,	PUNCT
fueconorg-10857	148	24	and	and	CCONJ
fueconorg-10857	148	25	tgas	tgas	PROPN
fueconorg-10857	148	26	show	show	VERB
fueconorg-10857	148	27	the	the	DET
fueconorg-10857	148	28	highest	high	ADJ
fueconorg-10857	148	29	level	level	NOUN
fueconorg-10857	148	30	of	of	ADP
fueconorg-10857	148	31	standard	standard	ADJ
fueconorg-10857	148	32	deviation	deviation	NOUN
fueconorg-10857	148	33	,	,	PUNCT
fueconorg-10857	148	34	which	which	PRON
fueconorg-10857	148	35	means	mean	VERB
fueconorg-10857	148	36	that	that	SCONJ
fueconorg-10857	148	37	these	these	DET
fueconorg-10857	148	38	shares	share	NOUN
fueconorg-10857	148	39	have	have	VERB
fueconorg-10857	148	40	a	a	DET
fueconorg-10857	148	41	large	large	ADJ
fueconorg-10857	148	42	class	class	NOUN
fueconorg-10857	148	43	of	of	ADP
fueconorg-10857	148	44	movement	movement	NOUN
fueconorg-10857	148	45	between	between	ADP
fueconorg-10857	148	46	the	the	DET
fueconorg-10857	148	47	maximum	maximum	ADJ
fueconorg-10857	148	48	and	and	CCONJ
fueconorg-10857	148	49	minimum	minimum	ADJ
fueconorg-10857	148	50	price	price	NOUN
fueconorg-10857	148	51	in	in	ADP
fueconorg-10857	148	52	the	the	DET
fueconorg-10857	148	53	observation	observation	NOUN
fueconorg-10857	148	54	period	period	NOUN
fueconorg-10857	148	55	.	.	PUNCT
fueconorg-10857	149	1	we	we	PRON
fueconorg-10857	149	2	notice	notice	VERB
fueconorg-10857	149	3	the	the	DET
fueconorg-10857	149	4	lowest	low	ADJ
fueconorg-10857	149	5	level	level	NOUN
fueconorg-10857	149	6	of	of	ADP
fueconorg-10857	149	7	variation	variation	NOUN
fueconorg-10857	149	8	at	at	ADP
fueconorg-10857	149	9	nis	nis	NOUN
fueconorg-10857	149	10	because	because	SCONJ
fueconorg-10857	149	11	the	the	DET
fueconorg-10857	149	12	amount	amount	NOUN
fueconorg-10857	149	13	of	of	ADP
fueconorg-10857	149	14	standard	standard	ADJ
fueconorg-10857	149	15	deviation	deviation	NOUN
fueconorg-10857	149	16	is	be	AUX
fueconorg-10857	149	17	108.37	108.37	NUM
fueconorg-10857	149	18	,	,	PUNCT
fueconorg-10857	149	19	which	which	PRON
fueconorg-10857	149	20	is	be	AUX
fueconorg-10857	149	21	the	the	DET
fueconorg-10857	149	22	lowest	low	ADJ
fueconorg-10857	149	23	amount	amount	NOUN
fueconorg-10857	149	24	in	in	ADP
fueconorg-10857	149	25	the	the	DET
fueconorg-10857	149	26	sample	sample	NOUN
fueconorg-10857	149	27	.	.	PUNCT
fueconorg-10857	150	1	https://assignmentpoint.com/security-market-line-sml/	https://assignmentpoint.com/security-market-line-sml/	NOUN
fueconorg-10857	150	2	testing	testing	NOUN
fueconorg-10857	150	3	of	of	ADP
fueconorg-10857	150	4	applicability	applicability	NOUN
fueconorg-10857	150	5	of	of	ADP
fueconorg-10857	150	6	the	the	DET
fueconorg-10857	150	7	capm	capm	PROPN
fueconorg-10857	150	8	model	model	NOUN
fueconorg-10857	150	9	using	use	VERB
fueconorg-10857	150	10	selected	select	VERB
fueconorg-10857	150	11	stocks	stock	NOUN
fueconorg-10857	150	12	listed	list	VERB
fueconorg-10857	150	13	on	on	ADP
fueconorg-10857	150	14	the	the	DET
fueconorg-10857	150	15	belgrade	belgrade	PROPN
fueconorg-10857	150	16	stock	stock	PROPN
fueconorg-10857	150	17	exchange	exchange	PROPN
fueconorg-10857	150	18	191	191	NUM
fueconorg-10857	150	19	table	table	NOUN
fueconorg-10857	150	20	3	3	NUM
fueconorg-10857	150	21	risk	risk	NOUN
fueconorg-10857	150	22	-	-	PUNCT
fueconorg-10857	150	23	free	free	ADJ
fueconorg-10857	150	24	rate	rate	NOUN
fueconorg-10857	150	25	,	,	PUNCT
fueconorg-10857	150	26	market	market	NOUN
fueconorg-10857	150	27	return	return	NOUN
fueconorg-10857	150	28	,	,	PUNCT
fueconorg-10857	150	29	and	and	CCONJ
fueconorg-10857	150	30	market	market	NOUN
fueconorg-10857	150	31	risk	risk	NOUN
fueconorg-10857	150	32	premium	premium	NOUN
fueconorg-10857	150	33	10year	10year	PUNCT
fueconorg-10857	150	34	international	international	ADJ
fueconorg-10857	150	35	bonds	bond	NOUN
fueconorg-10857	150	36	serbia	serbia	PROPN
fueconorg-10857	150	37	market	market	NOUN
fueconorg-10857	150	38	return	return	NOUN
fueconorg-10857	150	39	(	(	PUNCT
fueconorg-10857	150	40	belexline	belexline	NOUN
fueconorg-10857	150	41	)	)	PUNCT
fueconorg-10857	150	42	market	market	NOUN
fueconorg-10857	150	43	risk	risk	NOUN
fueconorg-10857	150	44	premium	premium	NOUN
fueconorg-10857	150	45	6.813	6.813	NUM
fueconorg-10857	150	46	%	%	NOUN
fueconorg-10857	150	47	3.426	3.426	NUM
fueconorg-10857	150	48	%	%	NOUN
fueconorg-10857	150	49	-5.068	-5.068	NUM
fueconorg-10857	150	50	%	%	NOUN
fueconorg-10857	150	51	source	source	NOUN
fueconorg-10857	150	52	:	:	PUNCT
fueconorg-10857	150	53	author	author	NOUN
fueconorg-10857	150	54	’s	’s	PART
fueconorg-10857	150	55	calculation	calculation	NOUN
fueconorg-10857	150	56	as	as	SCONJ
fueconorg-10857	150	57	we	we	PRON
fueconorg-10857	150	58	want	want	VERB
fueconorg-10857	150	59	to	to	PART
fueconorg-10857	150	60	calculate	calculate	VERB
fueconorg-10857	150	61	the	the	DET
fueconorg-10857	150	62	return	return	NOUN
fueconorg-10857	150	63	on	on	ADP
fueconorg-10857	150	64	shares	share	NOUN
fueconorg-10857	150	65	according	accord	VERB
fueconorg-10857	150	66	to	to	ADP
fueconorg-10857	150	67	the	the	DET
fueconorg-10857	150	68	capm	capm	PROPN
fueconorg-10857	150	69	model	model	NOUN
fueconorg-10857	150	70	,	,	PUNCT
fueconorg-10857	150	71	we	we	PRON
fueconorg-10857	150	72	need	need	VERB
fueconorg-10857	150	73	certain	certain	ADJ
fueconorg-10857	150	74	variables	variable	NOUN
fueconorg-10857	150	75	such	such	ADJ
fueconorg-10857	150	76	as	as	ADP
fueconorg-10857	150	77	risk	risk	NOUN
fueconorg-10857	150	78	-	-	PUNCT
fueconorg-10857	150	79	free	free	ADJ
fueconorg-10857	150	80	rate	rate	NOUN
fueconorg-10857	150	81	and	and	CCONJ
fueconorg-10857	150	82	market	market	NOUN
fueconorg-10857	150	83	return	return	NOUN
fueconorg-10857	150	84	.	.	PUNCT
fueconorg-10857	151	1	the	the	DET
fueconorg-10857	151	2	rate	rate	NOUN
fueconorg-10857	151	3	of	of	ADP
fueconorg-10857	151	4	return	return	NOUN
fueconorg-10857	151	5	on	on	ADP
fueconorg-10857	151	6	10	10	NUM
fueconorg-10857	151	7	-	-	PUNCT
fueconorg-10857	151	8	year	year	NOUN
fueconorg-10857	151	9	bonds	bond	NOUN
fueconorg-10857	151	10	was	be	AUX
fueconorg-10857	151	11	taken	take	VERB
fueconorg-10857	151	12	as	as	ADP
fueconorg-10857	151	13	a	a	DET
fueconorg-10857	151	14	representative	representative	NOUN
fueconorg-10857	151	15	of	of	ADP
fueconorg-10857	151	16	the	the	DET
fueconorg-10857	151	17	risk	risk	NOUN
fueconorg-10857	151	18	-	-	PUNCT
fueconorg-10857	151	19	free	free	ADJ
fueconorg-10857	151	20	rate	rate	NOUN
fueconorg-10857	151	21	.	.	PUNCT
fueconorg-10857	152	1	serbian	serbian	ADJ
fueconorg-10857	152	2	10	10	NUM
fueconorg-10857	152	3	-	-	PUNCT
fueconorg-10857	152	4	year	year	NOUN
fueconorg-10857	152	5	bonds	bond	NOUN
fueconorg-10857	152	6	experienced	experience	VERB
fueconorg-10857	152	7	a	a	DET
fueconorg-10857	152	8	maximum	maximum	ADJ
fueconorg-10857	152	9	rate	rate	NOUN
fueconorg-10857	152	10	of	of	ADP
fueconorg-10857	152	11	7.071	7.071	NUM
fueconorg-10857	152	12	%	%	NOUN
fueconorg-10857	152	13	while	while	SCONJ
fueconorg-10857	152	14	the	the	DET
fueconorg-10857	152	15	minimum	minimum	ADJ
fueconorg-10857	152	16	rate	rate	NOUN
fueconorg-10857	152	17	was	be	AUX
fueconorg-10857	152	18	2.264	2.264	NUM
fueconorg-10857	152	19	%	%	NOUN
fueconorg-10857	152	20	.	.	PUNCT
fueconorg-10857	153	1	in	in	ADP
fueconorg-10857	153	2	addition	addition	NOUN
fueconorg-10857	153	3	,	,	PUNCT
fueconorg-10857	153	4	the	the	DET
fueconorg-10857	153	5	return	return	NOUN
fueconorg-10857	153	6	rate	rate	NOUN
fueconorg-10857	153	7	of	of	ADP
fueconorg-10857	153	8	the	the	DET
fueconorg-10857	153	9	belexline	belexline	NOUN
fueconorg-10857	153	10	stock	stock	NOUN
fueconorg-10857	153	11	index	index	NOUN
fueconorg-10857	153	12	is	be	AUX
fueconorg-10857	153	13	shown	show	VERB
fueconorg-10857	153	14	,	,	PUNCT
fueconorg-10857	153	15	which	which	PRON
fueconorg-10857	153	16	is	be	AUX
fueconorg-10857	153	17	3.426	3.426	NUM
fueconorg-10857	153	18	%	%	NOUN
fueconorg-10857	153	19	per	per	ADP
fueconorg-10857	153	20	year	year	NOUN
fueconorg-10857	153	21	on	on	ADP
fueconorg-10857	153	22	average	average	ADJ
fueconorg-10857	153	23	,	,	PUNCT
fueconorg-10857	153	24	based	base	VERB
fueconorg-10857	153	25	on	on	ADP
fueconorg-10857	153	26	monthly	monthly	ADJ
fueconorg-10857	153	27	data	datum	NOUN
fueconorg-10857	153	28	used	use	VERB
fueconorg-10857	153	29	to	to	PART
fueconorg-10857	153	30	more	more	ADV
fueconorg-10857	153	31	accurately	accurately	ADV
fueconorg-10857	153	32	determine	determine	VERB
fueconorg-10857	153	33	the	the	DET
fueconorg-10857	153	34	actual	actual	ADJ
fueconorg-10857	153	35	return	return	NOUN
fueconorg-10857	153	36	.	.	PUNCT
fueconorg-10857	154	1	here	here	ADV
fueconorg-10857	154	2	we	we	PRON
fueconorg-10857	154	3	notice	notice	VERB
fueconorg-10857	154	4	a	a	DET
fueconorg-10857	154	5	violation	violation	NOUN
fueconorg-10857	154	6	of	of	ADP
fueconorg-10857	154	7	the	the	DET
fueconorg-10857	154	8	concept	concept	NOUN
fueconorg-10857	154	9	of	of	ADP
fueconorg-10857	154	10	the	the	DET
fueconorg-10857	154	11	capm	capm	PROPN
fueconorg-10857	154	12	model	model	NOUN
fueconorg-10857	154	13	,	,	PUNCT
fueconorg-10857	154	14	which	which	PRON
fueconorg-10857	154	15	immediately	immediately	ADV
fueconorg-10857	154	16	gives	give	VERB
fueconorg-10857	154	17	us	we	PRON
fueconorg-10857	154	18	an	an	DET
fueconorg-10857	154	19	indication	indication	NOUN
fueconorg-10857	154	20	of	of	ADP
fueconorg-10857	154	21	the	the	DET
fueconorg-10857	154	22	impossibility	impossibility	NOUN
fueconorg-10857	154	23	of	of	ADP
fueconorg-10857	154	24	applying	apply	VERB
fueconorg-10857	154	25	,	,	PUNCT
fueconorg-10857	154	26	in	in	ADP
fueconorg-10857	154	27	the	the	DET
fueconorg-10857	154	28	form	form	NOUN
fueconorg-10857	154	29	of	of	ADP
fueconorg-10857	154	30	predictability	predictability	NOUN
fueconorg-10857	154	31	,	,	PUNCT
fueconorg-10857	154	32	this	this	DET
fueconorg-10857	154	33	model	model	NOUN
fueconorg-10857	154	34	on	on	ADP
fueconorg-10857	154	35	the	the	DET
fueconorg-10857	154	36	belgrade	belgrade	PROPN
fueconorg-10857	154	37	stock	stock	PROPN
fueconorg-10857	154	38	exchange	exchange	PROPN
fueconorg-10857	154	39	.	.	PUNCT
fueconorg-10857	155	1	we	we	PRON
fueconorg-10857	155	2	notice	notice	VERB
fueconorg-10857	155	3	that	that	SCONJ
fueconorg-10857	155	4	the	the	DET
fueconorg-10857	155	5	premium	premium	NOUN
fueconorg-10857	155	6	market	market	NOUN
fueconorg-10857	155	7	is	be	AUX
fueconorg-10857	155	8	negative	negative	ADJ
fueconorg-10857	155	9	,	,	PUNCT
fueconorg-10857	155	10	which	which	PRON
fueconorg-10857	155	11	means	mean	VERB
fueconorg-10857	155	12	that	that	SCONJ
fueconorg-10857	155	13	in	in	ADP
fueconorg-10857	155	14	our	our	PRON
fueconorg-10857	155	15	market	market	NOUN
fueconorg-10857	155	16	it	it	PRON
fueconorg-10857	155	17	pays	pay	VERB
fueconorg-10857	155	18	more	more	ADJ
fueconorg-10857	155	19	for	for	SCONJ
fueconorg-10857	155	20	investors	investor	NOUN
fueconorg-10857	155	21	to	to	PART
fueconorg-10857	155	22	invest	invest	VERB
fueconorg-10857	155	23	in	in	ADP
fueconorg-10857	155	24	bonds	bond	NOUN
fueconorg-10857	155	25	because	because	SCONJ
fueconorg-10857	155	26	the	the	DET
fueconorg-10857	155	27	expected	expect	VERB
fueconorg-10857	155	28	return	return	NOUN
fueconorg-10857	155	29	from	from	ADP
fueconorg-10857	155	30	them	they	PRON
fueconorg-10857	155	31	is	be	AUX
fueconorg-10857	155	32	higher	high	ADJ
fueconorg-10857	155	33	than	than	ADP
fueconorg-10857	155	34	from	from	ADP
fueconorg-10857	155	35	investing	invest	VERB
fueconorg-10857	155	36	in	in	ADP
fueconorg-10857	155	37	the	the	DET
fueconorg-10857	155	38	stock	stock	NOUN
fueconorg-10857	155	39	exchange	exchange	PROPN
fueconorg-10857	155	40	index	index	NOUN
fueconorg-10857	155	41	itself	itself	PRON
fueconorg-10857	155	42	.	.	PUNCT
fueconorg-10857	156	1	this	this	DET
fueconorg-10857	156	2	problem	problem	NOUN
fueconorg-10857	156	3	was	be	AUX
fueconorg-10857	156	4	later	later	ADV
fueconorg-10857	156	5	presented	present	VERB
fueconorg-10857	156	6	graphically	graphically	ADV
fueconorg-10857	156	7	with	with	ADP
fueconorg-10857	156	8	the	the	DET
fueconorg-10857	156	9	help	help	NOUN
fueconorg-10857	156	10	of	of	ADP
fueconorg-10857	156	11	sml	sml	PROPN
fueconorg-10857	156	12	(	(	PUNCT
fueconorg-10857	156	13	security	security	NOUN
fueconorg-10857	156	14	market	market	NOUN
fueconorg-10857	156	15	line	line	NOUN
fueconorg-10857	156	16	)	)	PUNCT
fueconorg-10857	156	17	.	.	PUNCT
fueconorg-10857	157	1	table	table	NOUN
fueconorg-10857	157	2	4	4	NUM
fueconorg-10857	157	3	risk	risk	NOUN
fueconorg-10857	157	4	-	-	PUNCT
fueconorg-10857	157	5	free	free	ADJ
fueconorg-10857	157	6	rate	rate	NOUN
fueconorg-10857	157	7	,	,	PUNCT
fueconorg-10857	157	8	market	market	NOUN
fueconorg-10857	157	9	return	return	NOUN
fueconorg-10857	157	10	,	,	PUNCT
fueconorg-10857	157	11	and	and	CCONJ
fueconorg-10857	157	12	market	market	NOUN
fueconorg-10857	157	13	risk	risk	NOUN
fueconorg-10857	157	14	premium	premium	NOUN
fueconorg-10857	157	15	market	market	NOUN
fueconorg-10857	157	16	aero	aero	PROPN
fueconorg-10857	157	17	nis	nis	PROPN
fueconorg-10857	157	18	ehnl	ehnl	PROPN
fueconorg-10857	157	19	impl	impl	NOUN
fueconorg-10857	157	20	dnos	dnos	PROPN
fueconorg-10857	157	21	kmbn	kmbn	PROPN
fueconorg-10857	157	22	tgas	tgas	PROPN
fueconorg-10857	157	23	jesv	jesv	PROPN
fueconorg-10857	157	24	amso	amso	ADJ
fueconorg-10857	157	25	lsta	lsta	ADP
fueconorg-10857	157	26	market	market	NOUN
fueconorg-10857	157	27	0,0012515	0,0012515	PROPN
fueconorg-10857	157	28	aero	aero	X
fueconorg-10857	157	29	0,0010588	0,0010588	PROPN
fueconorg-10857	157	30	0,014053	0,014053	PROPN
fueconorg-10857	157	31	nis	nis	PROPN
fueconorg-10857	157	32	0,0006772	0,0006772	PROPN
fueconorg-10857	157	33	0,000329	0,000329	PROPN
fueconorg-10857	157	34	0.0029321	0.0029321	NUM
fueconorg-10857	157	35	ehnl	ehnl	VERB
fueconorg-10857	157	36	0,0012405	0,0012405	NOUN
fueconorg-10857	157	37	0,001208	0,001208	NOUN
fueconorg-10857	157	38	0,000759	0,000759	NOUN
fueconorg-10857	157	39	0,0050265	0,0050265	NOUN
fueconorg-10857	157	40	impl	impl	NOUN
fueconorg-10857	157	41	0,000529	0,000529	NUM
fueconorg-10857	157	42	0,000659	0,000659	NOUN
fueconorg-10857	158	1	6,822e-5	6,822e-5	NUM
fueconorg-10857	158	2	0,0010009	0,0010009	NUM
fueconorg-10857	158	3	0,008422	0,008422	NOUN
fueconorg-10857	158	4	dnos	dno	NOUN
fueconorg-10857	158	5	0,0009408	0,0009408	ADV
fueconorg-10857	158	6	-0,000449	-0,000449	CCONJ
fueconorg-10857	158	7	0,0003273	0,0003273	NOUN
fueconorg-10857	158	8	0,0008577	0,0008577	ADJ
fueconorg-10857	158	9	0,0016251	0,0016251	NUM
fueconorg-10857	158	10	0.0126168	0.0126168	NUM
fueconorg-10857	158	11	kmbn	kmbn	PROPN
fueconorg-10857	158	12	0,001297	0,001297	NOUN
fueconorg-10857	158	13	0,000532	0,000532	NOUN
fueconorg-10857	158	14	0,0008446	0,0008446	PROPN
fueconorg-10857	158	15	0,0014182	0,0014182	NOUN
fueconorg-10857	158	16	0,0009601	0,0009601	PROPN
fueconorg-10857	158	17	0,0011263	0,0011263	NOUN
fueconorg-10857	158	18	0,0051577	0,0051577	PROPN
fueconorg-10857	158	19	tgas	tgas	NOUN
fueconorg-10857	158	20	0,0009756	0,0009756	NUM
fueconorg-10857	158	21	0,001015	0,001015	NUM
fueconorg-10857	158	22	0,0005959	0,0005959	NUM
fueconorg-10857	158	23	0,0015253	0,0015253	NUM
fueconorg-10857	158	24	0,0011636	0,0011636	NOUN
fueconorg-10857	158	25	0,0002633	0,0002633	PROPN
fueconorg-10857	158	26	0,0012259	0,0012259	NOUN
fueconorg-10857	158	27	0,0035905	0,0035905	PUNCT
fueconorg-10857	158	28	jesv	jesv	PROPN
fueconorg-10857	158	29	0,000582	0,000582	PROPN
fueconorg-10857	158	30	0,00063	0,00063	NUM
fueconorg-10857	158	31	-0,000182	-0,000182	PROPN
fueconorg-10857	159	1	0,0010567	0,0010567	NOUN
fueconorg-10857	159	2	0,0014391	0,0014391	NOUN
fueconorg-10857	159	3	0,0006473	0,0006473	NUM
fueconorg-10857	159	4	0,0007161	0,0007161	VERB
fueconorg-10857	159	5	0,0007841	0,0007841	VERB
fueconorg-10857	159	6	0,002585	0,002585	NUM
fueconorg-10857	159	7	amso	amso	ADJ
fueconorg-10857	159	8	4,257e-05	4,257e-05	PROPN
fueconorg-10857	160	1	-0,001694	-0,001694	PROPN
fueconorg-10857	160	2	-0,000585	-0,000585	PROPN
fueconorg-10857	160	3	-0,001616	-0,001616	PROPN
fueconorg-10857	160	4	0,0005096	0,0005096	VERB
fueconorg-10857	160	5	0,0006096	0,0006096	NOUN
fueconorg-10857	160	6	0,0013337	0,0013337	NOUN
fueconorg-10857	160	7	-0,000394	-0,000394	NOUN
fueconorg-10857	161	1	0,000916	0,000916	NOUN
fueconorg-10857	161	2	0,0183287	0,0183287	NUM
fueconorg-10857	161	3	lsta	lsta	ADJ
fueconorg-10857	161	4	0,0011164	0,0011164	NOUN
fueconorg-10857	161	5	0,000709	0,000709	PROPN
fueconorg-10857	161	6	7,421e-05	7,421e-05	PROPN
fueconorg-10857	161	7	0,0014069	0,0014069	NUM
fueconorg-10857	161	8	0,0021323	0,0021323	NOUN
fueconorg-10857	161	9	0,0046685	0,0046685	NOUN
fueconorg-10857	161	10	0,0019706	0,0019706	PROPN
fueconorg-10857	161	11	0,000567	0,000567	NOUN
fueconorg-10857	161	12	0,001109	0,001109	NUM
fueconorg-10857	161	13	-0,0004926	-0,0004926	PROPN
fueconorg-10857	161	14	0,0187351	0,0187351	NOUN
fueconorg-10857	161	15	calculated	calculate	VERB
fueconorg-10857	161	16	beta	beta	NOUN
fueconorg-10857	161	17	0,846	0,846	NUM
fueconorg-10857	161	18	0,540	0,540	NUM
fueconorg-10857	161	19	0,991	0,991	NUM
fueconorg-10857	161	20	0,423	0,423	NUM
fueconorg-10857	161	21	0,752	0,752	NUM
fueconorg-10857	161	22	1,036	1,036	NUM
fueconorg-10857	161	23	0,780	0,780	NUM
fueconorg-10857	161	24	0,465	0,465	NOUN
fueconorg-10857	161	25	0,034	0,034	NUM
fueconorg-10857	161	26	0,892	0,892	NUM
fueconorg-10857	161	27	variance	variance	NOUN
fueconorg-10857	161	28	(	(	PUNCT
fueconorg-10857	161	29	stock	stock	NOUN
fueconorg-10857	161	30	)	)	PUNCT
fueconorg-10857	161	31	/	/	SYM
fueconorg-10857	161	32	covariance	covariance	NOUN
fueconorg-10857	161	33	(	(	PUNCT
fueconorg-10857	161	34	market;stock	market;stock	PROPN
fueconorg-10857	161	35	)	)	PUNCT
fueconorg-10857	161	36	source	source	NOUN
fueconorg-10857	161	37	:	:	PUNCT
fueconorg-10857	161	38	author	author	NOUN
fueconorg-10857	161	39	’s	’s	PART
fueconorg-10857	161	40	calculation	calculation	NOUN
fueconorg-10857	161	41	using	use	VERB
fueconorg-10857	161	42	the	the	DET
fueconorg-10857	161	43	previously	previously	ADV
fueconorg-10857	161	44	mentioned	mention	VERB
fueconorg-10857	161	45	formula	formula	NOUN
fueconorg-10857	161	46	for	for	ADP
fueconorg-10857	161	47	calculating	calculate	VERB
fueconorg-10857	161	48	the	the	DET
fueconorg-10857	161	49	beta	beta	ADJ
fueconorg-10857	161	50	coefficient	coefficient	NOUN
fueconorg-10857	161	51	as	as	ADP
fueconorg-10857	161	52	a	a	DET
fueconorg-10857	161	53	representative	representative	NOUN
fueconorg-10857	161	54	of	of	ADP
fueconorg-10857	161	55	the	the	DET
fueconorg-10857	161	56	systemic	systemic	ADJ
fueconorg-10857	161	57	risk	risk	NOUN
fueconorg-10857	161	58	to	to	PART
fueconorg-10857	161	59	which	which	PRON
fueconorg-10857	161	60	an	an	DET
fueconorg-10857	161	61	individual	individual	ADJ
fueconorg-10857	161	62	stock	stock	NOUN
fueconorg-10857	161	63	company	company	NOUN
fueconorg-10857	161	64	is	be	AUX
fueconorg-10857	161	65	exposed	expose	VERB
fueconorg-10857	161	66	,	,	PUNCT
fueconorg-10857	161	67	with	with	ADP
fueconorg-10857	161	68	the	the	DET
fueconorg-10857	161	69	help	help	NOUN
fueconorg-10857	161	70	of	of	ADP
fueconorg-10857	161	71	covariance	covariance	NOUN
fueconorg-10857	161	72	performed	perform	VERB
fueconorg-10857	161	73	using	use	VERB
fueconorg-10857	161	74	monthly	monthly	ADJ
fueconorg-10857	161	75	return	return	NOUN
fueconorg-10857	161	76	data	datum	NOUN
fueconorg-10857	161	77	,	,	PUNCT
fueconorg-10857	161	78	we	we	PRON
fueconorg-10857	161	79	obtained	obtain	VERB
fueconorg-10857	161	80	the	the	DET
fueconorg-10857	161	81	following	following	ADJ
fueconorg-10857	161	82	results	result	NOUN
fueconorg-10857	161	83	which	which	PRON
fueconorg-10857	161	84	can	can	AUX
fueconorg-10857	161	85	be	be	AUX
fueconorg-10857	161	86	seen	see	VERB
fueconorg-10857	161	87	in	in	ADP
fueconorg-10857	161	88	the	the	DET
fueconorg-10857	161	89	table	table	NOUN
fueconorg-10857	161	90	above	above	ADV
fueconorg-10857	161	91	.	.	PUNCT
fueconorg-10857	162	1	we	we	PRON
fueconorg-10857	162	2	can	can	AUX
fueconorg-10857	162	3	notice	notice	VERB
fueconorg-10857	162	4	that	that	DET
fueconorg-10857	162	5	kbmn	kbmn	NOUN
fueconorg-10857	162	6	has	have	VERB
fueconorg-10857	162	7	the	the	DET
fueconorg-10857	162	8	maximum	maximum	ADJ
fueconorg-10857	162	9	amount	amount	NOUN
fueconorg-10857	162	10	of	of	ADP
fueconorg-10857	162	11	beta	beta	ADJ
fueconorg-10857	162	12	coefficient	coefficient	NOUN
fueconorg-10857	162	13	in	in	ADP
fueconorg-10857	162	14	the	the	DET
fueconorg-10857	162	15	amount	amount	NOUN
fueconorg-10857	162	16	of	of	ADP
fueconorg-10857	162	17	1.03	1.03	NUM
fueconorg-10857	162	18	,	,	PUNCT
fueconorg-10857	162	19	which	which	PRON
fueconorg-10857	162	20	means	mean	VERB
fueconorg-10857	162	21	that	that	SCONJ
fueconorg-10857	162	22	the	the	DET
fueconorg-10857	162	23	return	return	NOUN
fueconorg-10857	162	24	on	on	ADP
fueconorg-10857	162	25	kbmn	kbmn	NOUN
fueconorg-10857	162	26	shares	share	NOUN
fueconorg-10857	162	27	is	be	AUX
fueconorg-10857	162	28	moving	move	VERB
fueconorg-10857	162	29	a	a	DET
fueconorg-10857	162	30	little	little	ADV
fueconorg-10857	162	31	stronger	strong	ADJ
fueconorg-10857	162	32	than	than	ADP
fueconorg-10857	162	33	the	the	DET
fueconorg-10857	162	34	market	market	NOUN
fueconorg-10857	162	35	itself	itself	PRON
fueconorg-10857	162	36	.	.	PUNCT
fueconorg-10857	163	1	also	also	ADV
fueconorg-10857	163	2	,	,	PUNCT
fueconorg-10857	163	3	the	the	DET
fueconorg-10857	163	4	results	result	NOUN
fueconorg-10857	163	5	affirm	affirm	VERB
fueconorg-10857	163	6	the	the	DET
fueconorg-10857	163	7	statement	statement	NOUN
fueconorg-10857	163	8	of	of	ADP
fueconorg-10857	163	9	baltes	balte	NOUN
fueconorg-10857	163	10	,	,	PUNCT
fueconorg-10857	163	11	dragoe	dragoe	PROPN
fueconorg-10857	163	12	&	&	CCONJ
fueconorg-10857	163	13	ardelean	ardelean	PROPN
fueconorg-10857	163	14	(	(	PUNCT
fueconorg-10857	163	15	2014	2014	NUM
fueconorg-10857	163	16	)	)	PUNCT
fueconorg-10857	163	17	that	that	PRON
fueconorg-10857	163	18	said	say	VERB
fueconorg-10857	163	19	that	that	SCONJ
fueconorg-10857	163	20	the	the	DET
fueconorg-10857	163	21	majority	majority	NOUN
fueconorg-10857	163	22	of	of	ADP
fueconorg-10857	163	23	cases	case	NOUN
fueconorg-10857	163	24	have	have	VERB
fueconorg-10857	163	25	positive	positive	ADJ
fueconorg-10857	163	26	ß	ß	PRON
fueconorg-10857	163	27	coefficient	coefficient	NOUN
fueconorg-10857	163	28	values	value	NOUN
fueconorg-10857	163	29	and	and	CCONJ
fueconorg-10857	163	30	that	that	SCONJ
fueconorg-10857	163	31	the	the	DET
fueconorg-10857	163	32	cases	case	NOUN
fueconorg-10857	163	33	with	with	ADP
fueconorg-10857	163	34	ß0	ß0	NOUN
fueconorg-10857	163	35	are	be	AUX
fueconorg-10857	163	36	extremely	extremely	ADV
fueconorg-10857	163	37	uncommon	uncommon	ADJ
fueconorg-10857	163	38	.	.	PUNCT
fueconorg-10857	164	1	the	the	DET
fueconorg-10857	164	2	volatility	volatility	NOUN
fueconorg-10857	164	3	value	value	NOUN
fueconorg-10857	164	4	suggests	suggest	VERB
fueconorg-10857	164	5	that	that	SCONJ
fueconorg-10857	164	6	the	the	DET
fueconorg-10857	164	7	stock	stock	NOUN
fueconorg-10857	164	8	will	will	AUX
fueconorg-10857	164	9	evolve	evolve	VERB
fueconorg-10857	164	10	differently	differently	ADV
fueconorg-10857	164	11	from	from	ADP
fueconorg-10857	164	12	the	the	DET
fueconorg-10857	164	13	market	market	NOUN
fueconorg-10857	164	14	.	.	PUNCT
fueconorg-10857	165	1	accordingly	accordingly	ADV
fueconorg-10857	165	2	,	,	PUNCT
fueconorg-10857	165	3	the	the	DET
fueconorg-10857	165	4	research	research	NOUN
fueconorg-10857	165	5	by	by	ADP
fueconorg-10857	165	6	duangjan	duangjan	NOUN
fueconorg-10857	165	7	&	&	CCONJ
fueconorg-10857	165	8	amporn	amporn	PROPN
fueconorg-10857	165	9	(	(	PUNCT
fueconorg-10857	165	10	2019	2019	NUM
fueconorg-10857	165	11	)	)	PUNCT
fueconorg-10857	165	12	examined	examine	VERB
fueconorg-10857	165	13	the	the	DET
fueconorg-10857	165	14	application	application	NOUN
fueconorg-10857	165	15	of	of	ADP
fueconorg-10857	165	16	the	the	DET
fueconorg-10857	165	17	capm	capm	PROPN
fueconorg-10857	165	18	model	model	NOUN
fueconorg-10857	165	19	to	to	ADP
fueconorg-10857	165	20	the	the	DET
fueconorg-10857	165	21	valuation	valuation	NOUN
fueconorg-10857	165	22	of	of	ADP
fueconorg-10857	165	23	five	five	NUM
fueconorg-10857	165	24	stocks	stock	NOUN
fueconorg-10857	165	25	of	of	ADP
fueconorg-10857	165	26	highly	highly	ADV
fueconorg-10857	165	27	profitable	profitable	ADJ
fueconorg-10857	165	28	companies	company	NOUN
fueconorg-10857	165	29	in	in	ADP
fueconorg-10857	165	30	the	the	DET
fueconorg-10857	165	31	american	american	ADJ
fueconorg-10857	165	32	market	market	NOUN
fueconorg-10857	165	33	and	and	CCONJ
fueconorg-10857	165	34	discovered	discover	VERB
fueconorg-10857	165	35	that	that	SCONJ
fueconorg-10857	165	36	the	the	DET
fueconorg-10857	165	37	beta	beta	NOUN
fueconorg-10857	165	38	of	of	ADP
fueconorg-10857	165	39	all	all	DET
fueconorg-10857	165	40	five	five	NUM
fueconorg-10857	165	41	sampling	sample	VERB
fueconorg-10857	165	42	companies	company	NOUN
fueconorg-10857	165	43	is	be	AUX
fueconorg-10857	165	44	positive	positive	ADJ
fueconorg-10857	165	45	,	,	PUNCT
fueconorg-10857	165	46	meaning	mean	VERB
fueconorg-10857	165	47	that	that	SCONJ
fueconorg-10857	165	48	bigger	big	ADJ
fueconorg-10857	165	49	the	the	DET
fueconorg-10857	165	50	increase	increase	NOUN
fueconorg-10857	165	51	in	in	ADP
fueconorg-10857	165	52	the	the	DET
fueconorg-10857	165	53	value	value	NOUN
fueconorg-10857	165	54	of	of	ADP
fueconorg-10857	165	55	the	the	DET
fueconorg-10857	165	56	stock	stock	NOUN
fueconorg-10857	165	57	,	,	PUNCT
fueconorg-10857	165	58	the	the	DET
fueconorg-10857	165	59	192	192	NUM
fueconorg-10857	165	60	m.	m.	NOUN
fueconorg-10857	165	61	đaković	đaković	NOUN
fueconorg-10857	165	62	,	,	PUNCT
fueconorg-10857	165	63	j.	j.	PROPN
fueconorg-10857	165	64	andrašić	andrašić	PROPN
fueconorg-10857	165	65	,	,	PUNCT
fueconorg-10857	165	66	d.	d.	PROPN
fueconorg-10857	165	67	cicmil	cicmil	PROPN
fueconorg-10857	165	68	beta	beta	NOUN
fueconorg-10857	165	69	of	of	ADP
fueconorg-10857	165	70	all	all	DET
fueconorg-10857	165	71	five	five	NUM
fueconorg-10857	165	72	sampling	sample	VERB
fueconorg-10857	165	73	companies	company	NOUN
fueconorg-10857	165	74	will	will	AUX
fueconorg-10857	165	75	increase	increase	VERB
fueconorg-10857	165	76	.	.	PUNCT
fueconorg-10857	166	1	as	as	SCONJ
fueconorg-10857	166	2	the	the	DET
fueconorg-10857	166	3	market	market	NOUN
fueconorg-10857	166	4	grows	grow	VERB
fueconorg-10857	166	5	,	,	PUNCT
fueconorg-10857	166	6	so	so	ADV
fueconorg-10857	166	7	will	will	AUX
fueconorg-10857	166	8	the	the	DET
fueconorg-10857	166	9	returns	return	NOUN
fueconorg-10857	166	10	of	of	ADP
fueconorg-10857	166	11	the	the	DET
fueconorg-10857	166	12	sampling	sample	VERB
fueconorg-10857	166	13	companies	company	NOUN
fueconorg-10857	166	14	,	,	PUNCT
fueconorg-10857	166	15	and	and	CCONJ
fueconorg-10857	166	16	vice	vice	ADV
fueconorg-10857	166	17	versa	versa	ADV
fueconorg-10857	166	18	.	.	PUNCT
fueconorg-10857	167	1	the	the	DET
fueconorg-10857	167	2	rest	rest	NOUN
fueconorg-10857	167	3	of	of	ADP
fueconorg-10857	167	4	the	the	DET
fueconorg-10857	167	5	shares	share	NOUN
fueconorg-10857	167	6	in	in	ADP
fueconorg-10857	167	7	the	the	DET
fueconorg-10857	167	8	sample	sample	NOUN
fueconorg-10857	167	9	are	be	AUX
fueconorg-10857	167	10	bets	bet	NOUN
fueconorg-10857	167	11	below	below	ADP
fueconorg-10857	167	12	1	1	NUM
fueconorg-10857	167	13	,	,	PUNCT
fueconorg-10857	167	14	which	which	PRON
fueconorg-10857	167	15	means	mean	VERB
fueconorg-10857	167	16	that	that	SCONJ
fueconorg-10857	167	17	they	they	PRON
fueconorg-10857	167	18	are	be	AUX
fueconorg-10857	167	19	more	more	ADV
fueconorg-10857	167	20	defensive	defensive	ADJ
fueconorg-10857	167	21	and	and	CCONJ
fueconorg-10857	167	22	less	less	ADV
fueconorg-10857	167	23	volatile	volatile	ADJ
fueconorg-10857	167	24	.	.	PUNCT
fueconorg-10857	168	1	the	the	DET
fueconorg-10857	168	2	average	average	ADJ
fueconorg-10857	168	3	value	value	NOUN
fueconorg-10857	168	4	of	of	ADP
fueconorg-10857	168	5	the	the	DET
fueconorg-10857	168	6	beta	beta	ADJ
fueconorg-10857	168	7	coefficient	coefficient	NOUN
fueconorg-10857	168	8	of	of	ADP
fueconorg-10857	168	9	the	the	DET
fueconorg-10857	168	10	observed	observe	VERB
fueconorg-10857	168	11	stock	stock	NOUN
fueconorg-10857	168	12	is	be	AUX
fueconorg-10857	168	13	0.729	0.729	NUM
fueconorg-10857	168	14	which	which	PRON
fueconorg-10857	168	15	tells	tell	VERB
fueconorg-10857	168	16	us	we	PRON
fueconorg-10857	168	17	that	that	SCONJ
fueconorg-10857	168	18	the	the	DET
fueconorg-10857	168	19	hypothetical	hypothetical	ADJ
fueconorg-10857	168	20	portfolio	portfolio	NOUN
fueconorg-10857	168	21	including	include	VERB
fueconorg-10857	168	22	these	these	DET
fueconorg-10857	168	23	stocks	stock	NOUN
fueconorg-10857	168	24	is	be	AUX
fueconorg-10857	168	25	not	not	PART
fueconorg-10857	168	26	as	as	ADV
fueconorg-10857	168	27	volatile	volatile	ADJ
fueconorg-10857	168	28	as	as	ADP
fueconorg-10857	168	29	the	the	DET
fueconorg-10857	168	30	market	market	NOUN
fueconorg-10857	168	31	.	.	PUNCT
fueconorg-10857	169	1	this	this	PRON
fueconorg-10857	169	2	coincides	coincide	VERB
fueconorg-10857	169	3	with	with	ADP
fueconorg-10857	169	4	the	the	DET
fueconorg-10857	169	5	results	result	NOUN
fueconorg-10857	169	6	of	of	ADP
fueconorg-10857	169	7	hundal	hundal	NOUN
fueconorg-10857	169	8	,	,	PUNCT
fueconorg-10857	169	9	eskola	eskola	PROPN
fueconorg-10857	169	10	&	&	CCONJ
fueconorg-10857	169	11	tulan	tulan	NOUN
fueconorg-10857	169	12	(	(	PUNCT
fueconorg-10857	169	13	2019	2019	NUM
fueconorg-10857	169	14	)	)	PUNCT
fueconorg-10857	169	15	who	who	PRON
fueconorg-10857	169	16	,	,	PUNCT
fueconorg-10857	169	17	observing	observe	VERB
fueconorg-10857	169	18	90	90	NUM
fueconorg-10857	169	19	stocks	stock	NOUN
fueconorg-10857	169	20	on	on	ADP
fueconorg-10857	169	21	the	the	DET
fueconorg-10857	169	22	finnish	finnish	ADJ
fueconorg-10857	169	23	stock	stock	NOUN
fueconorg-10857	169	24	market	market	NOUN
fueconorg-10857	169	25	,	,	PUNCT
fueconorg-10857	169	26	discovered	discover	VERB
fueconorg-10857	169	27	that	that	SCONJ
fueconorg-10857	169	28	the	the	DET
fueconorg-10857	169	29	average	average	ADJ
fueconorg-10857	169	30	beta	beta	NOUN
fueconorg-10857	169	31	was	be	AUX
fueconorg-10857	169	32	0.64	0.64	NUM
fueconorg-10857	169	33	which	which	PRON
fueconorg-10857	169	34	means	mean	VERB
fueconorg-10857	169	35	that	that	SCONJ
fueconorg-10857	169	36	the	the	DET
fueconorg-10857	169	37	market	market	NOUN
fueconorg-10857	169	38	change	change	NOUN
fueconorg-10857	169	39	of	of	ADP
fueconorg-10857	169	40	10	10	NUM
fueconorg-10857	169	41	%	%	NOUN
fueconorg-10857	169	42	implies	imply	VERB
fueconorg-10857	169	43	that	that	SCONJ
fueconorg-10857	169	44	the	the	DET
fueconorg-10857	169	45	hypothetical	hypothetical	ADJ
fueconorg-10857	169	46	portfolio	portfolio	NOUN
fueconorg-10857	169	47	changes	change	NOUN
fueconorg-10857	169	48	by	by	ADP
fueconorg-10857	169	49	6.4	6.4	NUM
fueconorg-10857	169	50	%	%	NOUN
fueconorg-10857	169	51	in	in	ADP
fueconorg-10857	169	52	the	the	DET
fueconorg-10857	169	53	same	same	ADJ
fueconorg-10857	169	54	direction	direction	NOUN
fueconorg-10857	169	55	.	.	PUNCT
fueconorg-10857	170	1	for	for	ADP
fueconorg-10857	170	2	a	a	DET
fueconorg-10857	170	3	more	more	ADV
fueconorg-10857	170	4	precise	precise	ADJ
fueconorg-10857	170	5	calculation	calculation	NOUN
fueconorg-10857	170	6	of	of	ADP
fueconorg-10857	170	7	the	the	DET
fueconorg-10857	170	8	beta	beta	ADJ
fueconorg-10857	170	9	coefficient	coefficient	NOUN
fueconorg-10857	170	10	,	,	PUNCT
fueconorg-10857	170	11	monthly	monthly	ADJ
fueconorg-10857	170	12	data	datum	NOUN
fueconorg-10857	170	13	were	be	AUX
fueconorg-10857	170	14	used	use	VERB
fueconorg-10857	170	15	concerning	concern	VERB
fueconorg-10857	170	16	the	the	DET
fueconorg-10857	170	17	annual	annual	ADJ
fueconorg-10857	170	18	ones	one	NOUN
fueconorg-10857	170	19	,	,	PUNCT
fueconorg-10857	170	20	used	use	VERB
fueconorg-10857	170	21	mainly	mainly	ADV
fueconorg-10857	170	22	due	due	ADP
fueconorg-10857	170	23	to	to	ADP
fueconorg-10857	170	24	the	the	DET
fueconorg-10857	170	25	statistical	statistical	ADJ
fueconorg-10857	170	26	significance	significance	NOUN
fueconorg-10857	170	27	of	of	ADP
fueconorg-10857	170	28	the	the	DET
fueconorg-10857	170	29	sample	sample	NOUN
fueconorg-10857	170	30	itself	itself	PRON
fueconorg-10857	170	31	.	.	PUNCT
fueconorg-10857	171	1	in	in	ADP
fueconorg-10857	171	2	the	the	DET
fueconorg-10857	171	3	following	follow	VERB
fueconorg-10857	171	4	table	table	NOUN
fueconorg-10857	171	5	,	,	PUNCT
fueconorg-10857	171	6	with	with	ADP
fueconorg-10857	171	7	the	the	DET
fueconorg-10857	171	8	help	help	NOUN
fueconorg-10857	171	9	of	of	ADP
fueconorg-10857	171	10	linear	linear	ADJ
fueconorg-10857	171	11	regression	regression	NOUN
fueconorg-10857	171	12	(	(	PUNCT
fueconorg-10857	171	13	which	which	PRON
fueconorg-10857	171	14	is	be	AUX
fueconorg-10857	171	15	another	another	DET
fueconorg-10857	171	16	way	way	NOUN
fueconorg-10857	171	17	of	of	ADP
fueconorg-10857	171	18	obtaining	obtain	VERB
fueconorg-10857	171	19	the	the	DET
fueconorg-10857	171	20	beta	beta	ADJ
fueconorg-10857	171	21	coefficient	coefficient	NOUN
fueconorg-10857	171	22	)	)	PUNCT
fueconorg-10857	171	23	,	,	PUNCT
fueconorg-10857	171	24	we	we	PRON
fueconorg-10857	171	25	also	also	ADV
fueconorg-10857	171	26	calculated	calculate	VERB
fueconorg-10857	171	27	the	the	DET
fueconorg-10857	171	28	amounts	amount	NOUN
fueconorg-10857	171	29	of	of	ADP
fueconorg-10857	171	30	the	the	DET
fueconorg-10857	171	31	beta	beta	ADJ
fueconorg-10857	171	32	coefficient	coefficient	NOUN
fueconorg-10857	171	33	but	but	CCONJ
fueconorg-10857	171	34	checked	check	VERB
fueconorg-10857	171	35	their	their	PRON
fueconorg-10857	171	36	statistical	statistical	ADJ
fueconorg-10857	171	37	significance	significance	NOUN
fueconorg-10857	171	38	using	use	VERB
fueconorg-10857	171	39	pvalues	pvalue	NOUN
fueconorg-10857	171	40	.	.	PUNCT
fueconorg-10857	172	1	in	in	ADP
fueconorg-10857	172	2	theory	theory	NOUN
fueconorg-10857	172	3	,	,	PUNCT
fueconorg-10857	172	4	if	if	SCONJ
fueconorg-10857	172	5	the	the	DET
fueconorg-10857	172	6	p	p	NOUN
fueconorg-10857	172	7	-	-	PUNCT
fueconorg-10857	172	8	value	value	NOUN
fueconorg-10857	172	9	does	do	AUX
fueconorg-10857	172	10	not	not	PART
fueconorg-10857	172	11	exceed	exceed	VERB
fueconorg-10857	172	12	0.05	0.05	NUM
fueconorg-10857	172	13	,	,	PUNCT
fueconorg-10857	172	14	the	the	DET
fueconorg-10857	172	15	sample	sample	NOUN
fueconorg-10857	172	16	is	be	AUX
fueconorg-10857	172	17	statistically	statistically	ADV
fueconorg-10857	172	18	significant	significant	ADJ
fueconorg-10857	172	19	.	.	PUNCT
fueconorg-10857	173	1	the	the	DET
fueconorg-10857	173	2	only	only	ADJ
fueconorg-10857	173	3	sample	sample	NOUN
fueconorg-10857	173	4	that	that	SCONJ
fueconorg-10857	173	5	we	we	PRON
fueconorg-10857	173	6	can	can	AUX
fueconorg-10857	173	7	say	say	VERB
fueconorg-10857	173	8	does	do	AUX
fueconorg-10857	173	9	not	not	PART
fueconorg-10857	173	10	fit	fit	VERB
fueconorg-10857	173	11	the	the	DET
fueconorg-10857	173	12	required	require	VERB
fueconorg-10857	173	13	parameters	parameter	NOUN
fueconorg-10857	173	14	is	be	AUX
fueconorg-10857	173	15	the	the	DET
fueconorg-10857	173	16	p	p	NOUN
fueconorg-10857	173	17	-	-	PUNCT
fueconorg-10857	173	18	value	value	NOUN
fueconorg-10857	173	19	of	of	ADP
fueconorg-10857	173	20	the	the	DET
fueconorg-10857	173	21	beta	beta	ADJ
fueconorg-10857	173	22	coefficient	coefficient	NOUN
fueconorg-10857	173	23	of	of	ADP
fueconorg-10857	173	24	the	the	DET
fueconorg-10857	173	25	company	company	NOUN
fueconorg-10857	173	26	impl	impl	NOUN
fueconorg-10857	173	27	.	.	PUNCT
fueconorg-10857	174	1	linear	linear	ADJ
fueconorg-10857	174	2	regression	regression	NOUN
fueconorg-10857	174	3	shows	show	VERB
fueconorg-10857	174	4	us	we	PRON
fueconorg-10857	174	5	the	the	DET
fueconorg-10857	174	6	average	average	ADJ
fueconorg-10857	174	7	change	change	NOUN
fueconorg-10857	174	8	of	of	ADP
fueconorg-10857	174	9	the	the	DET
fueconorg-10857	174	10	dependent	dependent	ADJ
fueconorg-10857	174	11	variable	variable	NOUN
fueconorg-10857	174	12	(	(	PUNCT
fueconorg-10857	174	13	return	return	VERB
fueconorg-10857	174	14	on	on	ADP
fueconorg-10857	174	15	shares	share	NOUN
fueconorg-10857	174	16	)	)	PUNCT
fueconorg-10857	174	17	when	when	SCONJ
fueconorg-10857	174	18	changing	change	VERB
fueconorg-10857	174	19	the	the	DET
fueconorg-10857	174	20	independent	independent	ADJ
fueconorg-10857	174	21	variable	variable	NOUN
fueconorg-10857	174	22	(	(	PUNCT
fueconorg-10857	174	23	return	return	VERB
fueconorg-10857	174	24	on	on	ADP
fueconorg-10857	174	25	the	the	DET
fueconorg-10857	174	26	market	market	NOUN
fueconorg-10857	174	27	)	)	PUNCT
fueconorg-10857	174	28	by	by	ADP
fueconorg-10857	174	29	one	one	NUM
fueconorg-10857	174	30	.	.	PUNCT
fueconorg-10857	175	1	table	table	NOUN
fueconorg-10857	175	2	5	5	NUM
fueconorg-10857	175	3	results	result	NOUN
fueconorg-10857	175	4	of	of	ADP
fueconorg-10857	175	5	linear	linear	ADJ
fueconorg-10857	175	6	regression	regression	NOUN
fueconorg-10857	175	7	companies	company	NOUN
fueconorg-10857	175	8	beta	beta	VERB
fueconorg-10857	175	9	p	p	NOUN
fueconorg-10857	175	10	-	-	PUNCT
fueconorg-10857	175	11	value	value	NOUN
fueconorg-10857	175	12	observations	observation	NOUN
fueconorg-10857	175	13	aero	aero	VERB
fueconorg-10857	175	14	0.8460	0.8460	NUM
fueconorg-10857	175	15	0.0036	0.0036	NUM
fueconorg-10857	175	16	131	131	NUM
fueconorg-10857	175	17	nis	nis	NOUN
fueconorg-10857	175	18	0.5401	0.5401	NUM
fueconorg-10857	175	19	0.0000	0.0000	NUM
fueconorg-10857	175	20	131	131	NUM
fueconorg-10857	175	21	ehnl	ehnl	VERB
fueconorg-10857	175	22	0.9912	0.9912	NUM
fueconorg-10857	175	23	0.0000	0.0000	NUM
fueconorg-10857	175	24	131	131	NUM
fueconorg-10857	175	25	impl	impl	NOUN
fueconorg-10857	175	26	0.4227	0.4227	NUM
fueconorg-10857	175	27	0.0629	0.0629	NUM
fueconorg-10857	175	28	131	131	NUM
fueconorg-10857	175	29	dnos	dno	NOUN
fueconorg-10857	175	30	0.7518	0.7518	NUM
fueconorg-10857	175	31	0.0065	0.0065	NUM
fueconorg-10857	175	32	131	131	NUM
fueconorg-10857	175	33	kmbn	kmbn	PROPN
fueconorg-10857	175	34	1.0364	1.0364	NUM
fueconorg-10857	175	35	0.0000	0.0000	NUM
fueconorg-10857	175	36	131	131	NUM
fueconorg-10857	175	37	tgas	tgas	NOUN
fueconorg-10857	175	38	0.7795	0.7795	NUM
fueconorg-10857	175	39	0.0000	0.0000	NUM
fueconorg-10857	175	40	131	131	NUM
fueconorg-10857	175	41	jesv	jesv	NOUN
fueconorg-10857	175	42	0.4650	0.4650	NUM
fueconorg-10857	175	43	0.0002	0.0002	NUM
fueconorg-10857	175	44	131	131	NUM
fueconorg-10857	175	45	0.7291	0.7291	NUM
fueconorg-10857	175	46	source	source	NOUN
fueconorg-10857	175	47	:	:	PUNCT
fueconorg-10857	175	48	author	author	NOUN
fueconorg-10857	175	49	’s	’s	PART
fueconorg-10857	175	50	calculation	calculation	NOUN
fueconorg-10857	175	51	in	in	ADP
fueconorg-10857	175	52	the	the	DET
fueconorg-10857	175	53	last	last	ADJ
fueconorg-10857	175	54	part	part	NOUN
fueconorg-10857	175	55	of	of	ADP
fueconorg-10857	175	56	the	the	DET
fueconorg-10857	175	57	research	research	NOUN
fueconorg-10857	175	58	,	,	PUNCT
fueconorg-10857	175	59	we	we	PRON
fueconorg-10857	175	60	come	come	VERB
fueconorg-10857	175	61	to	to	ADP
fueconorg-10857	175	62	the	the	DET
fueconorg-10857	175	63	calculation	calculation	NOUN
fueconorg-10857	175	64	of	of	ADP
fueconorg-10857	175	65	the	the	DET
fueconorg-10857	175	66	expected	expect	VERB
fueconorg-10857	175	67	returns	return	NOUN
fueconorg-10857	175	68	on	on	ADP
fueconorg-10857	175	69	shares	share	NOUN
fueconorg-10857	175	70	with	with	ADP
fueconorg-10857	175	71	the	the	DET
fueconorg-10857	175	72	help	help	NOUN
fueconorg-10857	175	73	of	of	ADP
fueconorg-10857	175	74	the	the	DET
fueconorg-10857	175	75	capm	capm	PROPN
fueconorg-10857	175	76	model	model	NOUN
fueconorg-10857	175	77	.	.	PUNCT
fueconorg-10857	176	1	we	we	PRON
fueconorg-10857	176	2	apply	apply	VERB
fueconorg-10857	176	3	the	the	DET
fueconorg-10857	176	4	formula	formula	NOUN
fueconorg-10857	176	5	given	give	VERB
fueconorg-10857	176	6	in	in	ADP
fueconorg-10857	176	7	the	the	DET
fueconorg-10857	176	8	chapter	chapter	NOUN
fueconorg-10857	176	9	on	on	ADP
fueconorg-10857	176	10	methodology	methodology	NOUN
fueconorg-10857	176	11	of	of	ADP
fueconorg-10857	176	12	calculation	calculation	NOUN
fueconorg-10857	176	13	work	work	NOUN
fueconorg-10857	176	14	.	.	PUNCT
fueconorg-10857	177	1	as	as	SCONJ
fueconorg-10857	177	2	the	the	DET
fueconorg-10857	177	3	capm	capm	PROPN
fueconorg-10857	177	4	model	model	NOUN
fueconorg-10857	177	5	uses	use	VERB
fueconorg-10857	177	6	the	the	DET
fueconorg-10857	177	7	annual	annual	ADJ
fueconorg-10857	177	8	return	return	NOUN
fueconorg-10857	177	9	on	on	ADP
fueconorg-10857	177	10	shares	share	NOUN
fueconorg-10857	177	11	in	in	ADP
fueconorg-10857	177	12	its	its	PRON
fueconorg-10857	177	13	assumptions	assumption	NOUN
fueconorg-10857	177	14	,	,	PUNCT
fueconorg-10857	177	15	we	we	PRON
fueconorg-10857	177	16	calculated	calculate	VERB
fueconorg-10857	177	17	the	the	DET
fueconorg-10857	177	18	average	average	ADJ
fueconorg-10857	177	19	annual	annual	ADJ
fueconorg-10857	177	20	returns	return	NOUN
fueconorg-10857	177	21	of	of	ADP
fueconorg-10857	177	22	each	each	DET
fueconorg-10857	177	23	share	share	NOUN
fueconorg-10857	177	24	in	in	ADP
fueconorg-10857	177	25	the	the	DET
fueconorg-10857	177	26	sample	sample	NOUN
fueconorg-10857	177	27	for	for	ADP
fueconorg-10857	177	28	the	the	DET
fueconorg-10857	177	29	period	period	NOUN
fueconorg-10857	177	30	from	from	ADP
fueconorg-10857	177	31	2011	2011	NUM
fueconorg-10857	177	32	to	to	ADP
fueconorg-10857	177	33	2021	2021	NUM
fueconorg-10857	177	34	using	use	VERB
fueconorg-10857	177	35	monthly	monthly	ADJ
fueconorg-10857	177	36	data	datum	NOUN
fueconorg-10857	177	37	.	.	PUNCT
fueconorg-10857	178	1	the	the	DET
fueconorg-10857	178	2	table	table	NOUN
fueconorg-10857	178	3	below	below	ADV
fueconorg-10857	178	4	shows	show	VERB
fueconorg-10857	178	5	the	the	DET
fueconorg-10857	178	6	results	result	NOUN
fueconorg-10857	178	7	obtained	obtain	VERB
fueconorg-10857	178	8	.	.	PUNCT
fueconorg-10857	179	1	we	we	PRON
fueconorg-10857	179	2	note	note	VERB
fueconorg-10857	179	3	that	that	SCONJ
fueconorg-10857	179	4	the	the	DET
fueconorg-10857	179	5	basic	basic	ADJ
fueconorg-10857	179	6	assumptions	assumption	NOUN
fueconorg-10857	179	7	of	of	ADP
fueconorg-10857	179	8	the	the	DET
fueconorg-10857	179	9	capm	capm	PROPN
fueconorg-10857	179	10	model	model	NOUN
fueconorg-10857	179	11	do	do	AUX
fueconorg-10857	179	12	not	not	PART
fueconorg-10857	179	13	apply	apply	VERB
fueconorg-10857	179	14	to	to	ADP
fueconorg-10857	179	15	the	the	DET
fueconorg-10857	179	16	belgrade	belgrade	PROPN
fueconorg-10857	179	17	stock	stock	PROPN
fueconorg-10857	179	18	exchange	exchange	PROPN
fueconorg-10857	179	19	.	.	PUNCT
fueconorg-10857	180	1	an	an	DET
fueconorg-10857	180	2	additional	additional	ADJ
fueconorg-10857	180	3	component	component	NOUN
fueconorg-10857	180	4	of	of	ADP
fueconorg-10857	180	5	the	the	DET
fueconorg-10857	180	6	alpha	alpha	ADJ
fueconorg-10857	180	7	coefficient	coefficient	NOUN
fueconorg-10857	180	8	was	be	AUX
fueconorg-10857	180	9	introduced	introduce	VERB
fueconorg-10857	180	10	,	,	PUNCT
fueconorg-10857	180	11	which	which	PRON
fueconorg-10857	180	12	represents	represent	VERB
fueconorg-10857	180	13	the	the	DET
fueconorg-10857	180	14	deviation	deviation	NOUN
fueconorg-10857	180	15	of	of	ADP
fueconorg-10857	180	16	the	the	DET
fueconorg-10857	180	17	actual	actual	ADJ
fueconorg-10857	180	18	yields	yield	NOUN
fueconorg-10857	180	19	from	from	ADP
fueconorg-10857	180	20	the	the	DET
fueconorg-10857	180	21	expected	expect	VERB
fueconorg-10857	180	22	yields	yield	NOUN
fueconorg-10857	180	23	or	or	CCONJ
fueconorg-10857	180	24	the	the	DET
fueconorg-10857	180	25	so	so	ADV
fueconorg-10857	180	26	-	-	PUNCT
fueconorg-10857	180	27	called	call	VERB
fueconorg-10857	180	28	abnormal	abnormal	ADJ
fueconorg-10857	180	29	yield	yield	NOUN
fueconorg-10857	180	30	.	.	PUNCT
fueconorg-10857	181	1	as	as	SCONJ
fueconorg-10857	181	2	we	we	PRON
fueconorg-10857	181	3	can	can	AUX
fueconorg-10857	181	4	see	see	VERB
fueconorg-10857	181	5	,	,	PUNCT
fueconorg-10857	181	6	the	the	DET
fueconorg-10857	181	7	results	result	NOUN
fueconorg-10857	181	8	produced	produce	VERB
fueconorg-10857	181	9	using	use	VERB
fueconorg-10857	181	10	the	the	DET
fueconorg-10857	181	11	capm	capm	PROPN
fueconorg-10857	181	12	model	model	NOUN
fueconorg-10857	181	13	's	's	PART
fueconorg-10857	181	14	assumptions	assumption	NOUN
fueconorg-10857	181	15	do	do	AUX
fueconorg-10857	181	16	not	not	PART
fueconorg-10857	181	17	demonstrate	demonstrate	VERB
fueconorg-10857	181	18	the	the	DET
fueconorg-10857	181	19	predicted	predict	VERB
fueconorg-10857	181	20	relationship	relationship	NOUN
fueconorg-10857	181	21	between	between	ADP
fueconorg-10857	181	22	risk	risk	NOUN
fueconorg-10857	181	23	and	and	CCONJ
fueconorg-10857	181	24	expected	expect	VERB
fueconorg-10857	181	25	returns	return	NOUN
fueconorg-10857	181	26	.	.	PUNCT
fueconorg-10857	182	1	the	the	DET
fueconorg-10857	182	2	results	result	NOUN
fueconorg-10857	182	3	obtained	obtain	VERB
fueconorg-10857	182	4	are	be	AUX
fueconorg-10857	182	5	the	the	DET
fueconorg-10857	182	6	outcome	outcome	NOUN
fueconorg-10857	182	7	of	of	ADP
fueconorg-10857	182	8	a	a	DET
fueconorg-10857	182	9	negative	negative	ADJ
fueconorg-10857	182	10	risk	risk	NOUN
fueconorg-10857	182	11	premium	premium	NOUN
fueconorg-10857	182	12	.	.	PUNCT
fueconorg-10857	183	1	a	a	DET
fueconorg-10857	183	2	greater	great	ADJ
fueconorg-10857	183	3	beta	beta	NOUN
fueconorg-10857	183	4	index	index	NOUN
fueconorg-10857	183	5	value	value	NOUN
fueconorg-10857	183	6	reduces	reduce	VERB
fueconorg-10857	183	7	the	the	DET
fueconorg-10857	183	8	return	return	NOUN
fueconorg-10857	183	9	as	as	ADV
fueconorg-10857	183	10	long	long	ADV
fueconorg-10857	183	11	as	as	SCONJ
fueconorg-10857	183	12	the	the	DET
fueconorg-10857	183	13	risk	risk	NOUN
fueconorg-10857	183	14	premium	premium	NOUN
fueconorg-10857	183	15	is	be	AUX
fueconorg-10857	183	16	negative	negative	ADJ
fueconorg-10857	183	17	which	which	PRON
fueconorg-10857	183	18	is	be	AUX
fueconorg-10857	183	19	contradictory	contradictory	ADJ
fueconorg-10857	183	20	to	to	ADP
fueconorg-10857	183	21	the	the	DET
fueconorg-10857	183	22	basis	basis	NOUN
fueconorg-10857	183	23	of	of	ADP
fueconorg-10857	183	24	the	the	DET
fueconorg-10857	183	25	model	model	NOUN
fueconorg-10857	183	26	.	.	PUNCT
fueconorg-10857	184	1	the	the	DET
fueconorg-10857	184	2	average	average	ADJ
fueconorg-10857	184	3	return	return	NOUN
fueconorg-10857	184	4	of	of	ADP
fueconorg-10857	184	5	selected	select	VERB
fueconorg-10857	184	6	shares	share	NOUN
fueconorg-10857	184	7	under	under	ADP
fueconorg-10857	184	8	the	the	DET
fueconorg-10857	184	9	capm	capm	PROPN
fueconorg-10857	184	10	assumptions	assumption	NOUN
fueconorg-10857	184	11	is	be	AUX
fueconorg-10857	184	12	4.34	4.34	NUM
fueconorg-10857	184	13	%	%	NOUN
fueconorg-10857	184	14	but	but	CCONJ
fueconorg-10857	184	15	actual	actual	ADJ
fueconorg-10857	184	16	returns	return	NOUN
fueconorg-10857	184	17	differ	differ	VERB
fueconorg-10857	184	18	.	.	PUNCT
fueconorg-10857	185	1	testing	testing	NOUN
fueconorg-10857	185	2	of	of	ADP
fueconorg-10857	185	3	applicability	applicability	NOUN
fueconorg-10857	185	4	of	of	ADP
fueconorg-10857	185	5	the	the	DET
fueconorg-10857	185	6	capm	capm	PROPN
fueconorg-10857	185	7	model	model	NOUN
fueconorg-10857	185	8	using	use	VERB
fueconorg-10857	185	9	selected	select	VERB
fueconorg-10857	185	10	stocks	stock	NOUN
fueconorg-10857	185	11	listed	list	VERB
fueconorg-10857	185	12	on	on	ADP
fueconorg-10857	185	13	the	the	DET
fueconorg-10857	185	14	belgrade	belgrade	PROPN
fueconorg-10857	185	15	stock	stock	PROPN
fueconorg-10857	185	16	exchange	exchange	PROPN
fueconorg-10857	185	17	193	193	NUM
fueconorg-10857	185	18	table	table	NOUN
fueconorg-10857	185	19	6	6	NUM
fueconorg-10857	185	20	calculation	calculation	NOUN
fueconorg-10857	185	21	of	of	ADP
fueconorg-10857	185	22	capm	capm	PROPN
fueconorg-10857	185	23	expected	expect	VERB
fueconorg-10857	185	24	returns	return	NOUN
fueconorg-10857	185	25	beta	beta	ADP
fueconorg-10857	185	26	capm	capm	PROPN
fueconorg-10857	185	27	return	return	NOUN
fueconorg-10857	185	28	annual	annual	ADJ
fueconorg-10857	185	29	return	return	NOUN
fueconorg-10857	185	30	alpha	alpha	NOUN
fueconorg-10857	185	31	rf	rf	ADJ
fueconorg-10857	185	32	0	0	NUM
fueconorg-10857	185	33	8.49	8.49	NUM
fueconorg-10857	185	34	%	%	NOUN
fueconorg-10857	185	35	aero	aero	NOUN
fueconorg-10857	185	36	0.8460	0.8460	NUM
fueconorg-10857	185	37	4.21	4.21	NUM
fueconorg-10857	185	38	%	%	NOUN
fueconorg-10857	185	39	7.08	7.08	NUM
fueconorg-10857	185	40	%	%	NOUN
fueconorg-10857	185	41	2.87	2.87	NUM
fueconorg-10857	185	42	%	%	NOUN
fueconorg-10857	185	43	nis	nis	NOUN
fueconorg-10857	185	44	0.5401	0.5401	NUM
fueconorg-10857	185	45	5.76	5.76	NUM
fueconorg-10857	185	46	%	%	NOUN
fueconorg-10857	185	47	1.12	1.12	NUM
fueconorg-10857	185	48	%	%	NOUN
fueconorg-10857	185	49	-4.64	-4.64	NOUN
fueconorg-10857	185	50	%	%	NOUN
fueconorg-10857	185	51	ehnl	ehnl	VERB
fueconorg-10857	185	52	0.9912	0.9912	NUM
fueconorg-10857	185	53	3.47	3.47	NUM
fueconorg-10857	185	54	%	%	NOUN
fueconorg-10857	185	55	-2.43	-2.43	NUM
fueconorg-10857	185	56	%	%	NOUN
fueconorg-10857	185	57	-5.90	-5.90	NOUN
fueconorg-10857	185	58	%	%	NOUN
fueconorg-10857	185	59	impl	impl	NOUN
fueconorg-10857	185	60	0.4227	0.4227	NUM
fueconorg-10857	185	61	6.35	6.35	NUM
fueconorg-10857	185	62	%	%	NOUN
fueconorg-10857	185	63	20.54	20.54	NUM
fueconorg-10857	185	64	%	%	NOUN
fueconorg-10857	185	65	14.19	14.19	NUM
fueconorg-10857	185	66	%	%	NOUN
fueconorg-10857	185	67	dnos	dno	NOUN
fueconorg-10857	185	68	0.7518	0.7518	NUM
fueconorg-10857	185	69	4.68	4.68	NUM
fueconorg-10857	185	70	%	%	NOUN
fueconorg-10857	185	71	13.41	13.41	NUM
fueconorg-10857	185	72	%	%	NOUN
fueconorg-10857	185	73	8.72	8.72	NUM
fueconorg-10857	185	74	%	%	NOUN
fueconorg-10857	185	75	kmbn	kmbn	PROPN
fueconorg-10857	185	76	1.0364	1.0364	NUM
fueconorg-10857	185	77	3.24	3.24	NUM
fueconorg-10857	185	78	%	%	NOUN
fueconorg-10857	185	79	7.24	7.24	NUM
fueconorg-10857	185	80	%	%	NOUN
fueconorg-10857	185	81	4.00	4.00	NUM
fueconorg-10857	185	82	%	%	NOUN
fueconorg-10857	185	83	tgas	tgas	NOUN
fueconorg-10857	185	84	0.7795	0.7795	NUM
fueconorg-10857	185	85	4.54	4.54	NUM
fueconorg-10857	185	86	%	%	NOUN
fueconorg-10857	185	87	11.94	11.94	NUM
fueconorg-10857	185	88	%	%	NOUN
fueconorg-10857	185	89	7.40	7.40	NUM
fueconorg-10857	185	90	%	%	NOUN
fueconorg-10857	185	91	jesv	jesv	NOUN
fueconorg-10857	185	92	0.4650	0.4650	NUM
fueconorg-10857	185	93	6.14	6.14	NUM
fueconorg-10857	185	94	%	%	NOUN
fueconorg-10857	185	95	3.84	3.84	NUM
fueconorg-10857	185	96	%	%	NOUN
fueconorg-10857	185	97	-2.30	-2.30	PRON
fueconorg-10857	185	98	%	%	NOUN
fueconorg-10857	185	99	amso	amso	VERB
fueconorg-10857	185	100	0.0340	0.0340	NUM
fueconorg-10857	185	101	8.32	8.32	NUM
fueconorg-10857	185	102	%	%	NOUN
fueconorg-10857	185	103	19.03	19.03	NUM
fueconorg-10857	185	104	%	%	NOUN
fueconorg-10857	185	105	10.71	10.71	NUM
fueconorg-10857	185	106	%	%	NOUN
fueconorg-10857	185	107	lsta	lsta	ADP
fueconorg-10857	185	108	0.8920	0.8920	NUM
fueconorg-10857	185	109	3.97	3.97	NUM
fueconorg-10857	185	110	%	%	NOUN
fueconorg-10857	185	111	12.49	12.49	NUM
fueconorg-10857	185	112	%	%	NOUN
fueconorg-10857	185	113	8.52	8.52	NUM
fueconorg-10857	185	114	%	%	NOUN
fueconorg-10857	185	115	source	source	NOUN
fueconorg-10857	185	116	:	:	PUNCT
fueconorg-10857	185	117	author	author	NOUN
fueconorg-10857	185	118	’s	’s	PART
fueconorg-10857	185	119	calculation	calculation	NOUN
fueconorg-10857	185	120	fig	fig	NOUN
fueconorg-10857	185	121	.	.	PUNCT
fueconorg-10857	186	1	3	3	NUM
fueconorg-10857	186	2	security	security	NOUN
fueconorg-10857	186	3	market	market	NOUN
fueconorg-10857	186	4	line	line	NOUN
fueconorg-10857	186	5	of	of	ADP
fueconorg-10857	186	6	selected	select	VERB
fueconorg-10857	186	7	shares	share	NOUN
fueconorg-10857	186	8	source	source	NOUN
fueconorg-10857	186	9	:	:	PUNCT
fueconorg-10857	186	10	author	author	NOUN
fueconorg-10857	186	11	’s	’s	PART
fueconorg-10857	186	12	calculation	calculation	NOUN
fueconorg-10857	186	13	the	the	DET
fueconorg-10857	186	14	negative	negative	ADJ
fueconorg-10857	186	15	slope	slope	NOUN
fueconorg-10857	186	16	of	of	ADP
fueconorg-10857	186	17	the	the	DET
fueconorg-10857	186	18	sml	sml	PROPN
fueconorg-10857	186	19	line	line	NOUN
fueconorg-10857	186	20	is	be	AUX
fueconorg-10857	186	21	the	the	DET
fueconorg-10857	186	22	result	result	NOUN
fueconorg-10857	186	23	of	of	ADP
fueconorg-10857	186	24	the	the	DET
fueconorg-10857	186	25	negative	negative	ADJ
fueconorg-10857	186	26	market	market	NOUN
fueconorg-10857	186	27	premium	premium	NOUN
fueconorg-10857	186	28	present	present	ADJ
fueconorg-10857	186	29	in	in	ADP
fueconorg-10857	186	30	the	the	DET
fueconorg-10857	186	31	financial	financial	ADJ
fueconorg-10857	186	32	market	market	NOUN
fueconorg-10857	186	33	of	of	ADP
fueconorg-10857	186	34	serbia	serbia	PROPN
fueconorg-10857	186	35	.	.	PUNCT
fueconorg-10857	187	1	on	on	ADP
fueconorg-10857	187	2	the	the	DET
fueconorg-10857	187	3	chart	chart	NOUN
fueconorg-10857	187	4	,	,	PUNCT
fueconorg-10857	187	5	we	we	PRON
fueconorg-10857	187	6	can	can	AUX
fueconorg-10857	187	7	see	see	VERB
fueconorg-10857	187	8	the	the	DET
fueconorg-10857	187	9	actual	actual	ADJ
fueconorg-10857	187	10	returns	return	NOUN
fueconorg-10857	187	11	of	of	ADP
fueconorg-10857	187	12	selected	select	VERB
fueconorg-10857	187	13	stocks	stock	NOUN
fueconorg-10857	187	14	and	and	CCONJ
fueconorg-10857	187	15	their	their	PRON
fueconorg-10857	187	16	deviation	deviation	NOUN
fueconorg-10857	187	17	from	from	ADP
fueconorg-10857	187	18	expected	expect	VERB
fueconorg-10857	187	19	returns	return	NOUN
fueconorg-10857	187	20	using	use	VERB
fueconorg-10857	187	21	the	the	DET
fueconorg-10857	187	22	capm	capm	PROPN
fueconorg-10857	187	23	model	model	NOUN
fueconorg-10857	187	24	.	.	PUNCT
fueconorg-10857	188	1	based	base	VERB
fueconorg-10857	188	2	on	on	ADP
fueconorg-10857	188	3	this	this	DET
fueconorg-10857	188	4	line	line	NOUN
fueconorg-10857	188	5	,	,	PUNCT
fueconorg-10857	188	6	we	we	PRON
fueconorg-10857	188	7	can	can	AUX
fueconorg-10857	188	8	determine	determine	VERB
fueconorg-10857	188	9	which	which	PRON
fueconorg-10857	188	10	shares	share	NOUN
fueconorg-10857	188	11	are	be	AUX
fueconorg-10857	188	12	overvalued	overvalue	VERB
fueconorg-10857	188	13	and	and	CCONJ
fueconorg-10857	188	14	which	which	PRON
fueconorg-10857	188	15	are	be	AUX
fueconorg-10857	188	16	undervalued	undervalue	VERB
fueconorg-10857	188	17	.	.	PUNCT
fueconorg-10857	189	1	in	in	ADP
fueconorg-10857	189	2	theory	theory	NOUN
fueconorg-10857	189	3	,	,	PUNCT
fueconorg-10857	189	4	if	if	SCONJ
fueconorg-10857	189	5	the	the	DET
fueconorg-10857	189	6	return	return	NOUN
fueconorg-10857	189	7	is	be	AUX
fueconorg-10857	189	8	above	above	ADP
fueconorg-10857	189	9	the	the	DET
fueconorg-10857	189	10	sml	sml	PROPN
fueconorg-10857	189	11	line	line	NOUN
fueconorg-10857	189	12	then	then	ADV
fueconorg-10857	189	13	it	it	PRON
fueconorg-10857	189	14	means	mean	VERB
fueconorg-10857	189	15	the	the	DET
fueconorg-10857	189	16	stock	stock	NOUN
fueconorg-10857	189	17	is	be	AUX
fueconorg-10857	189	18	undervalued	undervalue	VERB
fueconorg-10857	189	19	but	but	CCONJ
fueconorg-10857	189	20	if	if	SCONJ
fueconorg-10857	189	21	the	the	DET
fueconorg-10857	189	22	return	return	NOUN
fueconorg-10857	189	23	is	be	AUX
fueconorg-10857	189	24	below	below	ADP
fueconorg-10857	189	25	the	the	DET
fueconorg-10857	189	26	line	line	NOUN
fueconorg-10857	189	27	it	it	PRON
fueconorg-10857	189	28	means	mean	VERB
fueconorg-10857	189	29	the	the	DET
fueconorg-10857	189	30	stock	stock	NOUN
fueconorg-10857	189	31	is	be	AUX
fueconorg-10857	189	32	overvalued	overvalue	VERB
fueconorg-10857	189	33	.	.	PUNCT
fueconorg-10857	190	1	this	this	DET
fueconorg-10857	190	2	statement	statement	NOUN
fueconorg-10857	190	3	coincides	coincide	VERB
fueconorg-10857	190	4	with	with	ADP
fueconorg-10857	190	5	the	the	DET
fueconorg-10857	190	6	findings	finding	NOUN
fueconorg-10857	190	7	of	of	ADP
fueconorg-10857	190	8	baltes	balte	NOUN
fueconorg-10857	190	9	,	,	PUNCT
fueconorg-10857	190	10	dragoe	dragoe	PROPN
fueconorg-10857	190	11	&	&	CCONJ
fueconorg-10857	190	12	ardelean	ardelean	PROPN
fueconorg-10857	190	13	(	(	PUNCT
fueconorg-10857	190	14	2014	2014	NUM
fueconorg-10857	190	15	)	)	PUNCT
fueconorg-10857	190	16	who	who	PRON
fueconorg-10857	190	17	,	,	PUNCT
fueconorg-10857	190	18	using	use	VERB
fueconorg-10857	190	19	the	the	DET
fueconorg-10857	190	20	assumptions	assumption	NOUN
fueconorg-10857	190	21	of	of	ADP
fueconorg-10857	190	22	the	the	DET
fueconorg-10857	190	23	capm	capm	PROPN
fueconorg-10857	190	24	model	model	NOUN
fueconorg-10857	190	25	on	on	ADP
fueconorg-10857	190	26	the	the	DET
fueconorg-10857	190	27	bucharest	buchar	ADJ
fueconorg-10857	190	28	stock	stock	PROPN
fueconorg-10857	190	29	exchange	exchange	PROPN
fueconorg-10857	190	30	,	,	PUNCT
fueconorg-10857	190	31	found	find	VERB
fueconorg-10857	190	32	that	that	SCONJ
fueconorg-10857	190	33	the	the	DET
fueconorg-10857	190	34	shares	share	NOUN
fueconorg-10857	190	35	were	be	AUX
fueconorg-10857	190	36	overvalued	overvalue	VERB
fueconorg-10857	190	37	because	because	SCONJ
fueconorg-10857	190	38	their	their	PRON
fueconorg-10857	190	39	price	price	NOUN
fueconorg-10857	190	40	was	be	AUX
fueconorg-10857	190	41	positioned	position	VERB
fueconorg-10857	190	42	under	under	ADP
fueconorg-10857	190	43	the	the	DET
fueconorg-10857	190	44	security	security	NOUN
fueconorg-10857	190	45	market	market	NOUN
fueconorg-10857	190	46	line	line	NOUN
fueconorg-10857	190	47	of	of	ADP
fueconorg-10857	190	48	the	the	DET
fueconorg-10857	190	49	market	market	NOUN
fueconorg-10857	190	50	.	.	PUNCT
fueconorg-10857	191	1	this	this	PRON
fueconorg-10857	191	2	represents	represent	VERB
fueconorg-10857	191	3	one	one	NUM
fueconorg-10857	191	4	of	of	ADP
fueconorg-10857	191	5	the	the	DET
fueconorg-10857	191	6	useful	useful	ADJ
fueconorg-10857	191	7	ways	way	NOUN
fueconorg-10857	191	8	to	to	PART
fueconorg-10857	191	9	check	check	VERB
fueconorg-10857	191	10	the	the	DET
fueconorg-10857	191	11	real	real	ADJ
fueconorg-10857	191	12	value	value	NOUN
fueconorg-10857	191	13	of	of	ADP
fueconorg-10857	191	14	shares	share	NOUN
fueconorg-10857	191	15	in	in	ADP
fueconorg-10857	191	16	the	the	DET
fueconorg-10857	191	17	financial	financial	ADJ
fueconorg-10857	191	18	market	market	NOUN
fueconorg-10857	191	19	.	.	PUNCT
fueconorg-10857	192	1	after	after	ADP
fueconorg-10857	192	2	applying	apply	VERB
fueconorg-10857	192	3	the	the	DET
fueconorg-10857	192	4	capm	capm	PROPN
fueconorg-10857	192	5	model	model	NOUN
fueconorg-10857	192	6	to	to	ADP
fueconorg-10857	192	7	the	the	DET
fueconorg-10857	192	8	example	example	NOUN
fueconorg-10857	192	9	of	of	ADP
fueconorg-10857	192	10	selected	select	VERB
fueconorg-10857	192	11	shares	share	NOUN
fueconorg-10857	192	12	listed	list	VERB
fueconorg-10857	192	13	on	on	ADP
fueconorg-10857	192	14	the	the	DET
fueconorg-10857	192	15	belgrade	belgrade	PROPN
fueconorg-10857	192	16	stock	stock	PROPN
fueconorg-10857	192	17	exchange	exchange	PROPN
fueconorg-10857	192	18	,	,	PUNCT
fueconorg-10857	192	19	we	we	PRON
fueconorg-10857	192	20	established	establish	VERB
fueconorg-10857	192	21	that	that	SCONJ
fueconorg-10857	192	22	,	,	PUNCT
fueconorg-10857	192	23	mainly	mainly	ADV
fueconorg-10857	192	24	due	due	ADP
fueconorg-10857	192	25	to	to	ADP
fueconorg-10857	192	26	the	the	DET
fueconorg-10857	192	27	negative	negative	ADJ
fueconorg-10857	192	28	market	market	NOUN
fueconorg-10857	192	29	premium	premium	NOUN
fueconorg-10857	192	30	,	,	PUNCT
fueconorg-10857	192	31	the	the	DET
fueconorg-10857	192	32	capm	capm	PROPN
fueconorg-10857	192	33	model	model	NOUN
fueconorg-10857	192	34	itself	itself	PRON
fueconorg-10857	192	35	is	be	AUX
fueconorg-10857	192	36	not	not	PART
fueconorg-10857	192	37	applicable	applicable	ADJ
fueconorg-10857	192	38	as	as	ADP
fueconorg-10857	192	39	a	a	DET
fueconorg-10857	192	40	valid	valid	ADJ
fueconorg-10857	192	41	model	model	NOUN
fueconorg-10857	192	42	for	for	ADP
fueconorg-10857	192	43	valuing	value	VERB
fueconorg-10857	192	44	shares	share	NOUN
fueconorg-10857	192	45	on	on	ADP
fueconorg-10857	192	46	the	the	DET
fueconorg-10857	192	47	financial	financial	ADJ
fueconorg-10857	192	48	market	market	NOUN
fueconorg-10857	192	49	of	of	ADP
fueconorg-10857	192	50	serbia	serbia	PROPN
fueconorg-10857	192	51	which	which	PRON
fueconorg-10857	192	52	coincides	coincide	VERB
fueconorg-10857	192	53	with	with	ADP
fueconorg-10857	192	54	the	the	DET
fueconorg-10857	192	55	findings	finding	NOUN
fueconorg-10857	192	56	of	of	ADP
fueconorg-10857	192	57	odobasic	odobasic	ADJ
fueconorg-10857	192	58	,	,	PUNCT
fueconorg-10857	192	59	tolusic	tolusic	ADJ
fueconorg-10857	192	60	&	&	CCONJ
fueconorg-10857	192	61	tolusic	tolusic	PROPN
fueconorg-10857	192	62	(	(	PUNCT
fueconorg-10857	192	63	2014	2014	NUM
fueconorg-10857	192	64	)	)	PUNCT
fueconorg-10857	192	65	which	which	PRON
fueconorg-10857	192	66	also	also	ADV
fueconorg-10857	192	67	stated	state	VERB
fueconorg-10857	192	68	that	that	SCONJ
fueconorg-10857	192	69	the	the	DET
fueconorg-10857	192	70	assumptions	assumption	NOUN
fueconorg-10857	192	71	of	of	ADP
fueconorg-10857	192	72	the	the	DET
fueconorg-10857	192	73	capm	capm	PROPN
fueconorg-10857	192	74	model	model	NOUN
fueconorg-10857	192	75	,	,	PUNCT
fueconorg-10857	192	76	because	because	SCONJ
fueconorg-10857	192	77	of	of	ADP
fueconorg-10857	192	78	the	the	DET
fueconorg-10857	192	79	negative	negative	ADJ
fueconorg-10857	192	80	market	market	NOUN
fueconorg-10857	192	81	premium	premium	NOUN
fueconorg-10857	192	82	and	and	CCONJ
fueconorg-10857	192	83	the	the	DET
fueconorg-10857	192	84	high	high	ADJ
fueconorg-10857	192	85	risk	risk	NOUN
fueconorg-10857	192	86	-	-	PUNCT
fueconorg-10857	192	87	free	free	ADJ
fueconorg-10857	192	88	rate	rate	NOUN
fueconorg-10857	192	89	,	,	PUNCT
fueconorg-10857	192	90	can	can	AUX
fueconorg-10857	192	91	not	not	PART
fueconorg-10857	192	92	be	be	AUX
fueconorg-10857	192	93	applied	apply	VERB
fueconorg-10857	192	94	to	to	ADP
fueconorg-10857	192	95	the	the	DET
fueconorg-10857	192	96	croatian	croatian	ADJ
fueconorg-10857	192	97	market	market	NOUN
fueconorg-10857	192	98	.	.	PUNCT
fueconorg-10857	193	1	also	also	ADV
fueconorg-10857	193	2	,	,	PUNCT
fueconorg-10857	193	3	similar	similar	ADJ
fueconorg-10857	193	4	results	result	NOUN
fueconorg-10857	193	5	were	be	AUX
fueconorg-10857	193	6	obtained	obtain	VERB
fueconorg-10857	193	7	by	by	ADP
fueconorg-10857	193	8	khudoykulov	khudoykulov	PROPN
fueconorg-10857	193	9	,	,	PUNCT
fueconorg-10857	193	10	khamidov	khamidov	PROPN
fueconorg-10857	193	11	,	,	PUNCT
fueconorg-10857	193	12	&	&	CCONJ
fueconorg-10857	193	13	aktamov	aktamov	NOUN
fueconorg-10857	193	14	(	(	PUNCT
fueconorg-10857	193	15	2015	2015	NUM
fueconorg-10857	193	16	)	)	PUNCT
fueconorg-10857	193	17	whose	whose	DET
fueconorg-10857	193	18	findings	finding	NOUN
fueconorg-10857	193	19	,	,	PUNCT
fueconorg-10857	193	20	194	194	NUM
fueconorg-10857	193	21	m.	m.	NOUN
fueconorg-10857	193	22	đaković	đaković	NOUN
fueconorg-10857	193	23	,	,	PUNCT
fueconorg-10857	193	24	j.	j.	PROPN
fueconorg-10857	193	25	andrašić	andrašić	PROPN
fueconorg-10857	193	26	,	,	PUNCT
fueconorg-10857	193	27	d.	d.	PROPN
fueconorg-10857	193	28	cicmil	cicmil	PROPN
fueconorg-10857	193	29	analyzing	analyze	VERB
fueconorg-10857	193	30	the	the	DET
fueconorg-10857	193	31	czech	czech	PROPN
fueconorg-10857	193	32	republic	republic	NOUN
fueconorg-10857	193	33	,	,	PUNCT
fueconorg-10857	193	34	portugal	portugal	PROPN
fueconorg-10857	193	35	,	,	PUNCT
fueconorg-10857	193	36	greece	greece	PROPN
fueconorg-10857	193	37	,	,	PUNCT
fueconorg-10857	193	38	poland	poland	PROPN
fueconorg-10857	193	39	,	,	PUNCT
fueconorg-10857	193	40	and	and	CCONJ
fueconorg-10857	193	41	italy	italy	PROPN
fueconorg-10857	193	42	,	,	PUNCT
fueconorg-10857	193	43	claim	claim	VERB
fueconorg-10857	193	44	that	that	SCONJ
fueconorg-10857	193	45	after	after	SCONJ
fueconorg-10857	193	46	capm	capm	PROPN
fueconorg-10857	193	47	model	model	NOUN
fueconorg-10857	193	48	testing	testing	NOUN
fueconorg-10857	193	49	it	it	PRON
fueconorg-10857	193	50	was	be	AUX
fueconorg-10857	193	51	determined	determine	VERB
fueconorg-10857	193	52	that	that	SCONJ
fueconorg-10857	193	53	high	high	ADJ
fueconorg-10857	193	54	returns	return	NOUN
fueconorg-10857	193	55	did	do	AUX
fueconorg-10857	193	56	not	not	PART
fueconorg-10857	193	57	equal	equal	VERB
fueconorg-10857	193	58	high	high	ADJ
fueconorg-10857	193	59	beta	beta	NOUN
fueconorg-10857	193	60	.	.	PUNCT
fueconorg-10857	194	1	for	for	ADP
fueconorg-10857	194	2	that	that	DET
fueconorg-10857	194	3	reason	reason	NOUN
fueconorg-10857	194	4	,	,	PUNCT
fueconorg-10857	194	5	the	the	DET
fueconorg-10857	194	6	model	model	NOUN
fueconorg-10857	194	7	was	be	AUX
fueconorg-10857	194	8	not	not	PART
fueconorg-10857	194	9	adequate	adequate	ADJ
fueconorg-10857	194	10	for	for	ADP
fueconorg-10857	194	11	the	the	DET
fueconorg-10857	194	12	five	five	NUM
fueconorg-10857	194	13	countries	country	NOUN
fueconorg-10857	194	14	'	'	PART
fueconorg-10857	194	15	stock	stock	NOUN
fueconorg-10857	194	16	exchange	exchange	NOUN
fueconorg-10857	194	17	markets	market	NOUN
fueconorg-10857	194	18	.	.	PUNCT
fueconorg-10857	195	1	other	other	ADJ
fueconorg-10857	195	2	studies	study	NOUN
fueconorg-10857	195	3	employing	employ	VERB
fueconorg-10857	195	4	the	the	DET
fueconorg-10857	195	5	sample	sample	NOUN
fueconorg-10857	195	6	of	of	ADP
fueconorg-10857	195	7	33,301	33,301	NUM
fueconorg-10857	195	8	us	us	PROPN
fueconorg-10857	195	9	stock	stock	NOUN
fueconorg-10857	195	10	observations	observation	NOUN
fueconorg-10857	195	11	using	use	VERB
fueconorg-10857	195	12	data	datum	NOUN
fueconorg-10857	195	13	from	from	ADP
fueconorg-10857	195	14	1991	1991	NUM
fueconorg-10857	195	15	to	to	ADP
fueconorg-10857	195	16	2012	2012	NUM
fueconorg-10857	195	17	found	find	VERB
fueconorg-10857	195	18	that	that	SCONJ
fueconorg-10857	195	19	the	the	DET
fueconorg-10857	195	20	fama	fama	NOUN
fueconorg-10857	195	21	and	and	CCONJ
fueconorg-10857	195	22	french	french	ADJ
fueconorg-10857	195	23	model	model	NOUN
fueconorg-10857	195	24	(	(	PUNCT
fueconorg-10857	195	25	ex	ex	NOUN
fueconorg-10857	195	26	-	-	NOUN
fueconorg-10857	195	27	ante	ante	NOUN
fueconorg-10857	195	28	ff3	ff3	PROPN
fueconorg-10857	195	29	m	m	PROPN
fueconorg-10857	195	30	)	)	PUNCT
fueconorg-10857	195	31	offers	offer	VERB
fueconorg-10857	195	32	a	a	DET
fueconorg-10857	195	33	better	well	ADJ
fueconorg-10857	195	34	explanation	explanation	NOUN
fueconorg-10857	195	35	of	of	ADP
fueconorg-10857	195	36	the	the	DET
fueconorg-10857	195	37	dispersion	dispersion	NOUN
fueconorg-10857	195	38	of	of	ADP
fueconorg-10857	195	39	the	the	DET
fueconorg-10857	195	40	implied	imply	VERB
fueconorg-10857	195	41	cost	cost	NOUN
fueconorg-10857	195	42	of	of	ADP
fueconorg-10857	195	43	equity	equity	NOUN
fueconorg-10857	195	44	observations	observation	NOUN
fueconorg-10857	195	45	than	than	ADP
fueconorg-10857	195	46	the	the	DET
fueconorg-10857	195	47	capital	capital	NOUN
fueconorg-10857	195	48	asset	asset	NOUN
fueconorg-10857	195	49	pricing	pricing	NOUN
fueconorg-10857	195	50	model	model	NOUN
fueconorg-10857	195	51	(	(	PUNCT
fueconorg-10857	195	52	capm	capm	PROPN
fueconorg-10857	195	53	)	)	PUNCT
fueconorg-10857	195	54	and	and	CCONJ
fueconorg-10857	195	55	that	that	SCONJ
fueconorg-10857	195	56	there	there	PRON
fueconorg-10857	195	57	was	be	VERB
fueconorg-10857	195	58	a	a	DET
fueconorg-10857	195	59	significant	significant	ADJ
fueconorg-10857	195	60	average	average	ADJ
fueconorg-10857	195	61	absolute	absolute	ADJ
fueconorg-10857	195	62	difference	difference	NOUN
fueconorg-10857	195	63	between	between	ADP
fueconorg-10857	195	64	the	the	DET
fueconorg-10857	195	65	cost	cost	NOUN
fueconorg-10857	195	66	of	of	ADP
fueconorg-10857	195	67	equity	equity	NOUN
fueconorg-10857	195	68	estimates	estimate	NOUN
fueconorg-10857	195	69	of	of	ADP
fueconorg-10857	195	70	the	the	DET
fueconorg-10857	195	71	two	two	NUM
fueconorg-10857	195	72	models	model	NOUN
fueconorg-10857	195	73	(	(	PUNCT
fueconorg-10857	195	74	mishra	mishra	PROPN
fueconorg-10857	195	75	,	,	PUNCT
fueconorg-10857	195	76	thomas	thomas	PROPN
fueconorg-10857	195	77	,	,	PUNCT
fueconorg-10857	195	78	and	and	CCONJ
fueconorg-10857	195	79	o'brien	o'brien	PROPN
fueconorg-10857	195	80	,	,	PUNCT
fueconorg-10857	195	81	2018	2018	NUM
fueconorg-10857	195	82	)	)	PUNCT
fueconorg-10857	195	83	.	.	PUNCT
fueconorg-10857	196	1	the	the	DET
fueconorg-10857	196	2	actual	actual	ADJ
fueconorg-10857	196	3	application	application	NOUN
fueconorg-10857	196	4	of	of	ADP
fueconorg-10857	196	5	the	the	DET
fueconorg-10857	196	6	ex	ex	PROPN
fueconorg-10857	196	7	-	-	NOUN
fueconorg-10857	196	8	ante	ante	ADJ
fueconorg-10857	196	9	ffm	ffm	NOUN
fueconorg-10857	196	10	model	model	NOUN
fueconorg-10857	196	11	on	on	ADP
fueconorg-10857	196	12	the	the	DET
fueconorg-10857	196	13	capital	capital	NOUN
fueconorg-10857	196	14	market	market	NOUN
fueconorg-10857	196	15	of	of	ADP
fueconorg-10857	196	16	serbia	serbia	PROPN
fueconorg-10857	196	17	can	can	AUX
fueconorg-10857	196	18	be	be	AUX
fueconorg-10857	196	19	the	the	DET
fueconorg-10857	196	20	subject	subject	NOUN
fueconorg-10857	196	21	of	of	ADP
fueconorg-10857	196	22	future	future	ADJ
fueconorg-10857	196	23	research	research	NOUN
fueconorg-10857	196	24	in	in	ADP
fueconorg-10857	196	25	addition	addition	NOUN
fueconorg-10857	196	26	to	to	ADP
fueconorg-10857	196	27	the	the	DET
fueconorg-10857	196	28	apt	apt	ADJ
fueconorg-10857	196	29	model	model	NOUN
fueconorg-10857	196	30	as	as	ADP
fueconorg-10857	196	31	a	a	DET
fueconorg-10857	196	32	potential	potential	ADJ
fueconorg-10857	196	33	predictor	predictor	NOUN
fueconorg-10857	196	34	of	of	ADP
fueconorg-10857	196	35	future	future	ADJ
fueconorg-10857	196	36	share	share	NOUN
fueconorg-10857	196	37	prices	price	NOUN
fueconorg-10857	196	38	.	.	PUNCT
fueconorg-10857	197	1	in	in	ADP
fueconorg-10857	197	2	addition	addition	NOUN
fueconorg-10857	197	3	to	to	ADP
fueconorg-10857	197	4	the	the	DET
fueconorg-10857	197	5	capm	capm	PROPN
fueconorg-10857	197	6	model	model	NOUN
fueconorg-10857	197	7	,	,	PUNCT
fueconorg-10857	197	8	the	the	DET
fueconorg-10857	197	9	so	so	ADV
fueconorg-10857	197	10	-	-	PUNCT
fueconorg-10857	197	11	called	call	VERB
fueconorg-10857	197	12	arbitrage	arbitrage	NOUN
fueconorg-10857	197	13	model	model	NOUN
fueconorg-10857	197	14	(	(	PUNCT
fueconorg-10857	197	15	apt	apt	ADJ
fueconorg-10857	197	16	)	)	PUNCT
fueconorg-10857	197	17	is	be	AUX
fueconorg-10857	197	18	widely	widely	ADV
fueconorg-10857	197	19	used	use	VERB
fueconorg-10857	197	20	in	in	ADP
fueconorg-10857	197	21	the	the	DET
fueconorg-10857	197	22	valuation	valuation	NOUN
fueconorg-10857	197	23	of	of	ADP
fueconorg-10857	197	24	shares	share	NOUN
fueconorg-10857	197	25	,	,	PUNCT
fueconorg-10857	197	26	which	which	PRON
fueconorg-10857	197	27	,	,	PUNCT
fueconorg-10857	197	28	unlike	unlike	ADP
fueconorg-10857	197	29	the	the	DET
fueconorg-10857	197	30	capm	capm	PROPN
fueconorg-10857	197	31	model	model	NOUN
fueconorg-10857	197	32	,	,	PUNCT
fueconorg-10857	197	33	takes	take	VERB
fueconorg-10857	197	34	into	into	ADP
fueconorg-10857	197	35	account	account	NOUN
fueconorg-10857	197	36	various	various	ADJ
fueconorg-10857	197	37	other	other	ADJ
fueconorg-10857	197	38	variables	variable	NOUN
fueconorg-10857	197	39	in	in	ADP
fueconorg-10857	197	40	the	the	DET
fueconorg-10857	197	41	analysis	analysis	NOUN
fueconorg-10857	197	42	of	of	ADP
fueconorg-10857	197	43	the	the	DET
fueconorg-10857	197	44	value	value	NOUN
fueconorg-10857	197	45	of	of	ADP
fueconorg-10857	197	46	shares	share	NOUN
fueconorg-10857	197	47	.	.	PUNCT
fueconorg-10857	198	1	the	the	DET
fueconorg-10857	198	2	underlying	underlie	VERB
fueconorg-10857	198	3	premise	premise	NOUN
fueconorg-10857	198	4	of	of	ADP
fueconorg-10857	198	5	capm	capm	PROPN
fueconorg-10857	198	6	is	be	AUX
fueconorg-10857	198	7	fairly	fairly	ADV
fueconorg-10857	198	8	difficult	difficult	ADJ
fueconorg-10857	198	9	to	to	PART
fueconorg-10857	198	10	accept	accept	VERB
fueconorg-10857	198	11	when	when	SCONJ
fueconorg-10857	198	12	taken	take	VERB
fueconorg-10857	198	13	literally	literally	ADV
fueconorg-10857	198	14	.	.	PUNCT
fueconorg-10857	199	1	contrarily	contrarily	ADV
fueconorg-10857	199	2	,	,	PUNCT
fueconorg-10857	199	3	apt	apt	ADJ
fueconorg-10857	199	4	is	be	AUX
fueconorg-10857	199	5	slightly	slightly	ADV
fueconorg-10857	199	6	less	less	ADV
fueconorg-10857	199	7	demanding	demanding	ADJ
fueconorg-10857	199	8	than	than	ADP
fueconorg-10857	199	9	capm	capm	PROPN
fueconorg-10857	199	10	in	in	ADP
fueconorg-10857	199	11	terms	term	NOUN
fueconorg-10857	199	12	of	of	ADP
fueconorg-10857	199	13	fundamental	fundamental	ADJ
fueconorg-10857	199	14	presuppositions	presupposition	NOUN
fueconorg-10857	199	15	,	,	PUNCT
fueconorg-10857	199	16	but	but	CCONJ
fueconorg-10857	199	17	it	it	PRON
fueconorg-10857	199	18	is	be	AUX
fueconorg-10857	199	19	significantly	significantly	ADV
fueconorg-10857	199	20	less	less	ADV
fueconorg-10857	199	21	precise	precise	ADJ
fueconorg-10857	199	22	in	in	ADP
fueconorg-10857	199	23	its	its	PRON
fueconorg-10857	199	24	outcomes	outcome	NOUN
fueconorg-10857	199	25	because	because	SCONJ
fueconorg-10857	199	26	it	it	PRON
fueconorg-10857	199	27	does	do	AUX
fueconorg-10857	199	28	not	not	PART
fueconorg-10857	199	29	identify	identify	VERB
fueconorg-10857	199	30	the	the	DET
fueconorg-10857	199	31	model	model	NOUN
fueconorg-10857	199	32	's	's	PART
fueconorg-10857	199	33	input	input	NOUN
fueconorg-10857	199	34	variables	variable	NOUN
fueconorg-10857	199	35	(	(	PUNCT
fueconorg-10857	199	36	brandimarte	brandimarte	X
fueconorg-10857	199	37	,	,	PUNCT
fueconorg-10857	199	38	2017	2017	NUM
fueconorg-10857	199	39	)	)	PUNCT
fueconorg-10857	199	40	.	.	PUNCT
fueconorg-10857	200	1	in	in	ADP
fueconorg-10857	200	2	the	the	DET
fueconorg-10857	200	3	basic	basic	ADJ
fueconorg-10857	200	4	assumptions	assumption	NOUN
fueconorg-10857	200	5	of	of	ADP
fueconorg-10857	200	6	the	the	DET
fueconorg-10857	200	7	capm	capm	PROPN
fueconorg-10857	200	8	model	model	NOUN
fueconorg-10857	200	9	,	,	PUNCT
fueconorg-10857	200	10	we	we	PRON
fueconorg-10857	200	11	noticed	notice	VERB
fueconorg-10857	200	12	the	the	DET
fueconorg-10857	200	13	application	application	NOUN
fueconorg-10857	200	14	of	of	ADP
fueconorg-10857	200	15	the	the	DET
fueconorg-10857	200	16	beta	beta	ADJ
fueconorg-10857	200	17	coefficient	coefficient	NOUN
fueconorg-10857	200	18	,	,	PUNCT
fueconorg-10857	200	19	which	which	PRON
fueconorg-10857	200	20	is	be	AUX
fueconorg-10857	200	21	a	a	DET
fueconorg-10857	200	22	measure	measure	NOUN
fueconorg-10857	200	23	of	of	ADP
fueconorg-10857	200	24	systemic	systemic	ADJ
fueconorg-10857	200	25	risk	risk	NOUN
fueconorg-10857	200	26	,	,	PUNCT
fueconorg-10857	200	27	or	or	CCONJ
fueconorg-10857	200	28	that	that	DET
fueconorg-10857	200	29	risk	risk	NOUN
fueconorg-10857	200	30	that	that	PRON
fueconorg-10857	200	31	can	can	AUX
fueconorg-10857	200	32	not	not	PART
fueconorg-10857	200	33	be	be	AUX
fueconorg-10857	200	34	eliminated	eliminate	VERB
fueconorg-10857	200	35	by	by	ADP
fueconorg-10857	200	36	diversification	diversification	NOUN
fueconorg-10857	200	37	,	,	PUNCT
fueconorg-10857	200	38	which	which	PRON
fueconorg-10857	200	39	,	,	PUNCT
fueconorg-10857	200	40	together	together	ADV
fueconorg-10857	200	41	with	with	ADP
fueconorg-10857	200	42	the	the	DET
fueconorg-10857	200	43	market	market	NOUN
fueconorg-10857	200	44	premium	premium	NOUN
fueconorg-10857	200	45	,	,	PUNCT
fueconorg-10857	200	46	is	be	AUX
fueconorg-10857	200	47	used	use	VERB
fueconorg-10857	200	48	to	to	PART
fueconorg-10857	200	49	value	value	VERB
fueconorg-10857	200	50	shares	share	NOUN
fueconorg-10857	200	51	.	.	PUNCT
fueconorg-10857	201	1	an	an	DET
fueconorg-10857	201	2	alternative	alternative	NOUN
fueconorg-10857	201	3	to	to	ADP
fueconorg-10857	201	4	this	this	DET
fueconorg-10857	201	5	model	model	NOUN
fueconorg-10857	201	6	is	be	AUX
fueconorg-10857	201	7	the	the	DET
fueconorg-10857	201	8	apt	apt	ADJ
fueconorg-10857	201	9	model	model	NOUN
fueconorg-10857	201	10	,	,	PUNCT
fueconorg-10857	201	11	which	which	PRON
fueconorg-10857	201	12	in	in	ADP
fueconorg-10857	201	13	its	its	PRON
fueconorg-10857	201	14	application	application	NOUN
fueconorg-10857	201	15	takes	take	VERB
fueconorg-10857	201	16	more	more	ADV
fueconorg-10857	201	17	dependent	dependent	ADJ
fueconorg-10857	201	18	variables	variable	NOUN
fueconorg-10857	201	19	that	that	PRON
fueconorg-10857	201	20	can	can	AUX
fueconorg-10857	201	21	have	have	VERB
fueconorg-10857	201	22	an	an	DET
fueconorg-10857	201	23	impact	impact	NOUN
fueconorg-10857	201	24	on	on	ADP
fueconorg-10857	201	25	price	price	NOUN
fueconorg-10857	201	26	formation	formation	NOUN
fueconorg-10857	201	27	.	.	PUNCT
fueconorg-10857	202	1	the	the	DET
fueconorg-10857	202	2	apt	apt	ADJ
fueconorg-10857	202	3	model	model	NOUN
fueconorg-10857	202	4	mainly	mainly	ADV
fueconorg-10857	202	5	takes	take	VERB
fueconorg-10857	202	6	into	into	ADP
fueconorg-10857	202	7	account	account	NOUN
fueconorg-10857	202	8	macroeconomic	macroeconomic	ADJ
fueconorg-10857	202	9	factors	factor	NOUN
fueconorg-10857	202	10	such	such	ADJ
fueconorg-10857	202	11	as	as	ADP
fueconorg-10857	202	12	gdp	gdp	NOUN
fueconorg-10857	202	13	(	(	PUNCT
fueconorg-10857	202	14	gross	gross	ADJ
fueconorg-10857	202	15	domestic	domestic	ADJ
fueconorg-10857	202	16	product	product	NOUN
fueconorg-10857	202	17	)	)	PUNCT
fueconorg-10857	202	18	,	,	PUNCT
fueconorg-10857	202	19	unemployment	unemployment	NOUN
fueconorg-10857	202	20	rate	rate	NOUN
fueconorg-10857	202	21	,	,	PUNCT
fueconorg-10857	202	22	inflation	inflation	NOUN
fueconorg-10857	202	23	rate	rate	NOUN
fueconorg-10857	202	24	or	or	CCONJ
fueconorg-10857	202	25	cpi	cpi	PROPN
fueconorg-10857	202	26	(	(	PUNCT
fueconorg-10857	202	27	consumer	consumer	NOUN
fueconorg-10857	202	28	price	price	NOUN
fueconorg-10857	202	29	index	index	NOUN
fueconorg-10857	202	30	)	)	PUNCT
fueconorg-10857	202	31	,	,	PUNCT
fueconorg-10857	202	32	external	external	ADJ
fueconorg-10857	202	33	debt	debt	NOUN
fueconorg-10857	202	34	as	as	ADV
fueconorg-10857	202	35	well	well	ADV
fueconorg-10857	202	36	as	as	ADP
fueconorg-10857	202	37	certain	certain	ADJ
fueconorg-10857	202	38	internal	internal	ADJ
fueconorg-10857	202	39	factors	factor	NOUN
fueconorg-10857	202	40	such	such	ADJ
fueconorg-10857	202	41	as	as	ADP
fueconorg-10857	202	42	trading	trading	NOUN
fueconorg-10857	202	43	volume	volume	NOUN
fueconorg-10857	202	44	on	on	ADP
fueconorg-10857	202	45	the	the	DET
fueconorg-10857	202	46	stock	stock	NOUN
fueconorg-10857	202	47	exchange	exchange	NOUN
fueconorg-10857	202	48	itself	itself	PRON
fueconorg-10857	202	49	.	.	PUNCT
fueconorg-10857	203	1	table	table	NOUN
fueconorg-10857	203	2	7	7	NUM
fueconorg-10857	203	3	correlation	correlation	NOUN
fueconorg-10857	203	4	model	model	NOUN
fueconorg-10857	203	5	belexline	belexline	NOUN
fueconorg-10857	203	6	belexline	belexline	NOUN
fueconorg-10857	203	7	1	1	NUM
fueconorg-10857	203	8	trading	trading	NOUN
fueconorg-10857	203	9	volume	volume	NOUN
fueconorg-10857	203	10	0.70383886	0.70383886	NUM
fueconorg-10857	203	11	gdp	gdp	NOUN
fueconorg-10857	203	12	0.462281296	0.462281296	NUM
fueconorg-10857	203	13	gdp	gdp	NOUN
fueconorg-10857	203	14	per	per	ADP
fueconorg-10857	203	15	capita	capita	X
fueconorg-10857	203	16	0.526415086	0.526415086	NUM
fueconorg-10857	203	17	unemployment	unemployment	NOUN
fueconorg-10857	203	18	(	(	PUNCT
fueconorg-10857	203	19	%	%	INTJ
fueconorg-10857	203	20	)	)	PUNCT
fueconorg-10857	204	1	-0.916047487	-0.916047487	PROPN
fueconorg-10857	204	2	gross	gross	ADJ
fueconorg-10857	204	3	external	external	ADJ
fueconorg-10857	204	4	dept	dept	NOUN
fueconorg-10857	204	5	0.557048549	0.557048549	PROPN
fueconorg-10857	204	6	cpi	cpi	PROPN
fueconorg-10857	204	7	0.797684042	0.797684042	NUM
fueconorg-10857	204	8	source	source	NOUN
fueconorg-10857	204	9	:	:	PUNCT
fueconorg-10857	204	10	author	author	NOUN
fueconorg-10857	204	11	’s	’s	PART
fueconorg-10857	204	12	calculation	calculation	NOUN
fueconorg-10857	204	13	in	in	ADP
fueconorg-10857	204	14	the	the	DET
fueconorg-10857	204	15	analysis	analysis	NOUN
fueconorg-10857	204	16	,	,	PUNCT
fueconorg-10857	204	17	we	we	PRON
fueconorg-10857	204	18	take	take	VERB
fueconorg-10857	204	19	exactly	exactly	ADV
fueconorg-10857	204	20	these	these	DET
fueconorg-10857	204	21	factors	factor	NOUN
fueconorg-10857	204	22	collected	collect	VERB
fueconorg-10857	204	23	for	for	ADP
fueconorg-10857	204	24	the	the	DET
fueconorg-10857	204	25	period	period	NOUN
fueconorg-10857	204	26	from	from	ADP
fueconorg-10857	204	27	2011	2011	NUM
fueconorg-10857	204	28	to	to	ADP
fueconorg-10857	204	29	2021	2021	NUM
fueconorg-10857	204	30	,	,	PUNCT
fueconorg-10857	204	31	and	and	CCONJ
fueconorg-10857	204	32	,	,	PUNCT
fueconorg-10857	204	33	using	use	VERB
fueconorg-10857	204	34	correlation	correlation	NOUN
fueconorg-10857	204	35	methods	method	NOUN
fueconorg-10857	204	36	,	,	PUNCT
fueconorg-10857	204	37	we	we	PRON
fueconorg-10857	204	38	establish	establish	VERB
fueconorg-10857	204	39	the	the	DET
fueconorg-10857	204	40	connection	connection	NOUN
fueconorg-10857	204	41	of	of	ADP
fueconorg-10857	204	42	certain	certain	ADJ
fueconorg-10857	204	43	variables	variable	NOUN
fueconorg-10857	204	44	with	with	ADP
fueconorg-10857	204	45	the	the	DET
fueconorg-10857	204	46	price	price	NOUN
fueconorg-10857	204	47	movement	movement	NOUN
fueconorg-10857	204	48	of	of	ADP
fueconorg-10857	204	49	the	the	DET
fueconorg-10857	204	50	belexline	belexline	NOUN
fueconorg-10857	204	51	stock	stock	NOUN
fueconorg-10857	204	52	market	market	NOUN
fueconorg-10857	204	53	index	index	NOUN
fueconorg-10857	204	54	.	.	PUNCT
fueconorg-10857	205	1	in	in	ADP
fueconorg-10857	205	2	table	table	NOUN
fueconorg-10857	205	3	no	no	NOUN
fueconorg-10857	205	4	.	.	NOUN
fueconorg-10857	205	5	7	7	NUM
fueconorg-10857	205	6	we	we	PRON
fueconorg-10857	205	7	observe	observe	VERB
fueconorg-10857	205	8	a	a	DET
fueconorg-10857	205	9	significant	significant	ADJ
fueconorg-10857	205	10	correlation	correlation	NOUN
fueconorg-10857	205	11	between	between	ADP
fueconorg-10857	205	12	the	the	DET
fueconorg-10857	205	13	cpi	cpi	PROPN
fueconorg-10857	205	14	index	index	NOUN
fueconorg-10857	205	15	and	and	CCONJ
fueconorg-10857	205	16	the	the	DET
fueconorg-10857	205	17	unemployment	unemployment	NOUN
fueconorg-10857	205	18	rate	rate	NOUN
fueconorg-10857	205	19	with	with	ADP
fueconorg-10857	205	20	index	index	NOUN
fueconorg-10857	205	21	price	price	NOUN
fueconorg-10857	205	22	movements	movement	NOUN
fueconorg-10857	205	23	.	.	PUNCT
fueconorg-10857	206	1	in	in	ADP
fueconorg-10857	206	2	the	the	DET
fueconorg-10857	206	3	case	case	NOUN
fueconorg-10857	206	4	of	of	ADP
fueconorg-10857	206	5	the	the	DET
fueconorg-10857	206	6	cpi	cpi	PROPN
fueconorg-10857	206	7	index	index	NOUN
fueconorg-10857	206	8	,	,	PUNCT
fueconorg-10857	206	9	there	there	PRON
fueconorg-10857	206	10	is	be	VERB
fueconorg-10857	206	11	a	a	DET
fueconorg-10857	206	12	positive	positive	ADJ
fueconorg-10857	206	13	correlation	correlation	NOUN
fueconorg-10857	206	14	,	,	PUNCT
fueconorg-10857	206	15	while	while	SCONJ
fueconorg-10857	206	16	there	there	PRON
fueconorg-10857	206	17	is	be	VERB
fueconorg-10857	206	18	a	a	DET
fueconorg-10857	206	19	negative	negative	ADJ
fueconorg-10857	206	20	but	but	CCONJ
fueconorg-10857	206	21	strong	strong	ADJ
fueconorg-10857	206	22	correlation	correlation	NOUN
fueconorg-10857	206	23	with	with	ADP
fueconorg-10857	206	24	the	the	DET
fueconorg-10857	206	25	unemployment	unemployment	NOUN
fueconorg-10857	206	26	rate	rate	NOUN
fueconorg-10857	206	27	.	.	PUNCT
fueconorg-10857	207	1	there	there	PRON
fueconorg-10857	207	2	is	be	VERB
fueconorg-10857	207	3	also	also	ADV
fueconorg-10857	207	4	a	a	DET
fueconorg-10857	207	5	noticeable	noticeable	ADJ
fueconorg-10857	207	6	positive	positive	ADJ
fueconorg-10857	207	7	correlation	correlation	NOUN
fueconorg-10857	207	8	between	between	ADP
fueconorg-10857	207	9	trading	trading	NOUN
fueconorg-10857	207	10	volume	volume	NOUN
fueconorg-10857	207	11	and	and	CCONJ
fueconorg-10857	207	12	share	share	NOUN
fueconorg-10857	207	13	price	price	NOUN
fueconorg-10857	207	14	growth	growth	NOUN
fueconorg-10857	207	15	.	.	PUNCT
fueconorg-10857	208	1	with	with	ADP
fueconorg-10857	208	2	the	the	DET
fueconorg-10857	208	3	help	help	NOUN
fueconorg-10857	208	4	of	of	ADP
fueconorg-10857	208	5	the	the	DET
fueconorg-10857	208	6	analysis	analysis	NOUN
fueconorg-10857	208	7	,	,	PUNCT
fueconorg-10857	208	8	we	we	PRON
fueconorg-10857	208	9	notice	notice	VERB
fueconorg-10857	208	10	that	that	SCONJ
fueconorg-10857	208	11	the	the	DET
fueconorg-10857	208	12	prices	price	NOUN
fueconorg-10857	208	13	of	of	ADP
fueconorg-10857	208	14	shares	share	NOUN
fueconorg-10857	208	15	on	on	ADP
fueconorg-10857	208	16	the	the	DET
fueconorg-10857	208	17	belgrade	belgrade	PROPN
fueconorg-10857	208	18	stock	stock	PROPN
fueconorg-10857	208	19	exchange	exchange	PROPN
fueconorg-10857	208	20	are	be	AUX
fueconorg-10857	208	21	influenced	influence	VERB
fueconorg-10857	208	22	by	by	ADP
fueconorg-10857	208	23	other	other	ADJ
fueconorg-10857	208	24	factors	factor	NOUN
fueconorg-10857	208	25	.	.	PUNCT
fueconorg-10857	209	1	since	since	SCONJ
fueconorg-10857	209	2	the	the	DET
fueconorg-10857	209	3	analysis	analysis	NOUN
fueconorg-10857	209	4	of	of	ADP
fueconorg-10857	209	5	these	these	DET
fueconorg-10857	209	6	factors	factor	NOUN
fueconorg-10857	209	7	does	do	AUX
fueconorg-10857	209	8	not	not	PART
fueconorg-10857	209	9	represent	represent	VERB
fueconorg-10857	209	10	a	a	DET
fueconorg-10857	209	11	problem	problem	NOUN
fueconorg-10857	209	12	of	of	ADP
fueconorg-10857	209	13	this	this	DET
fueconorg-10857	209	14	research	research	NOUN
fueconorg-10857	209	15	,	,	PUNCT
fueconorg-10857	209	16	we	we	PRON
fueconorg-10857	209	17	suggest	suggest	VERB
fueconorg-10857	209	18	that	that	SCONJ
fueconorg-10857	209	19	future	future	ADJ
fueconorg-10857	209	20	deeper	deep	ADJ
fueconorg-10857	209	21	analysis	analysis	NOUN
fueconorg-10857	209	22	of	of	ADP
fueconorg-10857	209	23	the	the	DET
fueconorg-10857	209	24	effects	effect	NOUN
fueconorg-10857	209	25	of	of	ADP
fueconorg-10857	209	26	these	these	DET
fueconorg-10857	209	27	factors	factor	NOUN
fueconorg-10857	209	28	can	can	AUX
fueconorg-10857	209	29	contribute	contribute	VERB
fueconorg-10857	209	30	to	to	ADP
fueconorg-10857	209	31	the	the	DET
fueconorg-10857	209	32	establishment	establishment	NOUN
fueconorg-10857	209	33	of	of	ADP
fueconorg-10857	209	34	a	a	DET
fueconorg-10857	209	35	more	more	ADV
fueconorg-10857	209	36	precise	precise	ADJ
fueconorg-10857	209	37	model	model	NOUN
fueconorg-10857	209	38	of	of	ADP
fueconorg-10857	209	39	the	the	DET
fueconorg-10857	209	40	predictability	predictability	NOUN
fueconorg-10857	209	41	of	of	ADP
fueconorg-10857	209	42	stock	stock	NOUN
fueconorg-10857	209	43	valuation	valuation	NOUN
fueconorg-10857	209	44	on	on	ADP
fueconorg-10857	209	45	the	the	DET
fueconorg-10857	209	46	belgrade	belgrade	PROPN
fueconorg-10857	209	47	stock	stock	PROPN
fueconorg-10857	209	48	exchange	exchange	PROPN
fueconorg-10857	209	49	.	.	PUNCT
fueconorg-10857	210	1	testing	testing	NOUN
fueconorg-10857	210	2	of	of	ADP
fueconorg-10857	210	3	applicability	applicability	NOUN
fueconorg-10857	210	4	of	of	ADP
fueconorg-10857	210	5	the	the	DET
fueconorg-10857	210	6	capm	capm	PROPN
fueconorg-10857	210	7	model	model	NOUN
fueconorg-10857	210	8	using	use	VERB
fueconorg-10857	210	9	selected	select	VERB
fueconorg-10857	210	10	stocks	stock	NOUN
fueconorg-10857	210	11	listed	list	VERB
fueconorg-10857	210	12	on	on	ADP
fueconorg-10857	210	13	the	the	DET
fueconorg-10857	210	14	belgrade	belgrade	PROPN
fueconorg-10857	210	15	stock	stock	PROPN
fueconorg-10857	210	16	exchange	exchange	PROPN
fueconorg-10857	210	17	195	195	NUM
fueconorg-10857	210	18	5	5	NUM
fueconorg-10857	210	19	.	.	PUNCT
fueconorg-10857	211	1	conclusion	conclusion	NOUN
fueconorg-10857	211	2	using	use	VERB
fueconorg-10857	211	3	the	the	DET
fueconorg-10857	211	4	assumptions	assumption	NOUN
fueconorg-10857	211	5	of	of	ADP
fueconorg-10857	211	6	the	the	DET
fueconorg-10857	211	7	capm	capm	PROPN
fueconorg-10857	211	8	model	model	NOUN
fueconorg-10857	211	9	,	,	PUNCT
fueconorg-10857	211	10	in	in	ADP
fueconorg-10857	211	11	this	this	DET
fueconorg-10857	211	12	study	study	NOUN
fueconorg-10857	211	13	we	we	PRON
fueconorg-10857	211	14	tried	try	VERB
fueconorg-10857	211	15	to	to	PART
fueconorg-10857	211	16	test	test	VERB
fueconorg-10857	211	17	its	its	PRON
fueconorg-10857	211	18	actual	actual	ADJ
fueconorg-10857	211	19	applicability	applicability	NOUN
fueconorg-10857	211	20	on	on	ADP
fueconorg-10857	211	21	the	the	DET
fueconorg-10857	211	22	example	example	NOUN
fueconorg-10857	211	23	of	of	ADP
fueconorg-10857	211	24	selected	select	VERB
fueconorg-10857	211	25	shares	share	NOUN
fueconorg-10857	211	26	listed	list	VERB
fueconorg-10857	211	27	on	on	ADP
fueconorg-10857	211	28	the	the	DET
fueconorg-10857	211	29	belgrade	belgrade	PROPN
fueconorg-10857	211	30	stock	stock	PROPN
fueconorg-10857	211	31	exchange	exchange	PROPN
fueconorg-10857	211	32	.	.	PUNCT
fueconorg-10857	212	1	using	use	VERB
fueconorg-10857	212	2	a	a	DET
fueconorg-10857	212	3	long	long	ADJ
fueconorg-10857	212	4	time	time	NOUN
fueconorg-10857	212	5	series	series	NOUN
fueconorg-10857	212	6	,	,	PUNCT
fueconorg-10857	212	7	we	we	PRON
fueconorg-10857	212	8	aimed	aim	VERB
fueconorg-10857	212	9	for	for	ADP
fueconorg-10857	212	10	the	the	DET
fueconorg-10857	212	11	greatest	great	ADJ
fueconorg-10857	212	12	possible	possible	ADJ
fueconorg-10857	212	13	precision	precision	NOUN
fueconorg-10857	212	14	of	of	ADP
fueconorg-10857	212	15	the	the	DET
fueconorg-10857	212	16	model	model	NOUN
fueconorg-10857	212	17	itself	itself	PRON
fueconorg-10857	212	18	.	.	PUNCT
fueconorg-10857	213	1	it	it	PRON
fueconorg-10857	213	2	was	be	AUX
fueconorg-10857	213	3	determined	determine	VERB
fueconorg-10857	213	4	that	that	SCONJ
fueconorg-10857	213	5	there	there	PRON
fueconorg-10857	213	6	is	be	VERB
fueconorg-10857	213	7	a	a	DET
fueconorg-10857	213	8	negative	negative	ADJ
fueconorg-10857	213	9	market	market	NOUN
fueconorg-10857	213	10	premium	premium	NOUN
fueconorg-10857	213	11	on	on	ADP
fueconorg-10857	213	12	the	the	DET
fueconorg-10857	213	13	financial	financial	ADJ
fueconorg-10857	213	14	market	market	NOUN
fueconorg-10857	213	15	of	of	ADP
fueconorg-10857	213	16	the	the	DET
fueconorg-10857	213	17	republic	republic	NOUN
fueconorg-10857	213	18	of	of	ADP
fueconorg-10857	213	19	serbia	serbia	PROPN
fueconorg-10857	213	20	,	,	PUNCT
fueconorg-10857	213	21	which	which	PRON
fueconorg-10857	213	22	means	mean	VERB
fueconorg-10857	213	23	that	that	SCONJ
fueconorg-10857	213	24	it	it	PRON
fueconorg-10857	213	25	pays	pay	VERB
fueconorg-10857	213	26	more	more	ADJ
fueconorg-10857	213	27	for	for	SCONJ
fueconorg-10857	213	28	investors	investor	NOUN
fueconorg-10857	213	29	to	to	PART
fueconorg-10857	213	30	invest	invest	VERB
fueconorg-10857	213	31	money	money	NOUN
fueconorg-10857	213	32	in	in	ADP
fueconorg-10857	213	33	bonds	bond	NOUN
fueconorg-10857	213	34	(	(	PUNCT
fueconorg-10857	213	35	as	as	ADP
fueconorg-10857	213	36	a	a	DET
fueconorg-10857	213	37	representative	representative	NOUN
fueconorg-10857	213	38	of	of	ADP
fueconorg-10857	213	39	risk	risk	NOUN
fueconorg-10857	213	40	-	-	PUNCT
fueconorg-10857	213	41	free	free	ADJ
fueconorg-10857	213	42	return	return	NOUN
fueconorg-10857	213	43	)	)	PUNCT
fueconorg-10857	213	44	than	than	ADP
fueconorg-10857	213	45	in	in	ADP
fueconorg-10857	213	46	shares	share	NOUN
fueconorg-10857	213	47	listed	list	VERB
fueconorg-10857	213	48	on	on	ADP
fueconorg-10857	213	49	the	the	DET
fueconorg-10857	213	50	stock	stock	NOUN
fueconorg-10857	213	51	exchange	exchange	NOUN
fueconorg-10857	213	52	.	.	PUNCT
fueconorg-10857	214	1	due	due	ADP
fueconorg-10857	214	2	to	to	ADP
fueconorg-10857	214	3	the	the	DET
fueconorg-10857	214	4	violation	violation	NOUN
fueconorg-10857	214	5	of	of	ADP
fueconorg-10857	214	6	this	this	DET
fueconorg-10857	214	7	assumption	assumption	NOUN
fueconorg-10857	214	8	of	of	ADP
fueconorg-10857	214	9	the	the	DET
fueconorg-10857	214	10	capm	capm	PROPN
fueconorg-10857	214	11	model	model	NOUN
fueconorg-10857	214	12	,	,	PUNCT
fueconorg-10857	214	13	which	which	PRON
fueconorg-10857	214	14	states	state	VERB
fueconorg-10857	214	15	that	that	SCONJ
fueconorg-10857	214	16	the	the	DET
fueconorg-10857	214	17	market	market	NOUN
fueconorg-10857	214	18	premium	premium	NOUN
fueconorg-10857	214	19	represents	represent	VERB
fueconorg-10857	214	20	the	the	DET
fueconorg-10857	214	21	market	market	NOUN
fueconorg-10857	214	22	return	return	NOUN
fueconorg-10857	214	23	above	above	ADP
fueconorg-10857	214	24	the	the	DET
fueconorg-10857	214	25	risk	risk	NOUN
fueconorg-10857	214	26	-	-	PUNCT
fueconorg-10857	214	27	free	free	ADJ
fueconorg-10857	214	28	market	market	NOUN
fueconorg-10857	214	29	,	,	PUNCT
fueconorg-10857	214	30	we	we	PRON
fueconorg-10857	214	31	must	must	AUX
fueconorg-10857	214	32	conclude	conclude	VERB
fueconorg-10857	214	33	that	that	SCONJ
fueconorg-10857	214	34	the	the	DET
fueconorg-10857	214	35	applicability	applicability	NOUN
fueconorg-10857	214	36	of	of	ADP
fueconorg-10857	214	37	the	the	DET
fueconorg-10857	214	38	capm	capm	PROPN
fueconorg-10857	214	39	model	model	NOUN
fueconorg-10857	214	40	as	as	ADP
fueconorg-10857	214	41	a	a	DET
fueconorg-10857	214	42	predictor	predictor	NOUN
fueconorg-10857	214	43	of	of	ADP
fueconorg-10857	214	44	future	future	ADJ
fueconorg-10857	214	45	stock	stock	NOUN
fueconorg-10857	214	46	returns	return	NOUN
fueconorg-10857	214	47	is	be	AUX
fueconorg-10857	214	48	not	not	PART
fueconorg-10857	214	49	valid	valid	ADJ
fueconorg-10857	214	50	.	.	PUNCT
fueconorg-10857	215	1	the	the	DET
fueconorg-10857	215	2	serbian	serbian	ADJ
fueconorg-10857	215	3	financial	financial	ADJ
fueconorg-10857	215	4	capital	capital	NOUN
fueconorg-10857	215	5	market	market	NOUN
fueconorg-10857	215	6	is	be	AUX
fueconorg-10857	215	7	still	still	ADV
fueconorg-10857	215	8	an	an	DET
fueconorg-10857	215	9	emerging	emerge	VERB
fueconorg-10857	215	10	market	market	NOUN
fueconorg-10857	215	11	with	with	ADP
fueconorg-10857	215	12	a	a	DET
fueconorg-10857	215	13	small	small	ADJ
fueconorg-10857	215	14	number	number	NOUN
fueconorg-10857	215	15	of	of	ADP
fueconorg-10857	215	16	shares	share	NOUN
fueconorg-10857	215	17	in	in	ADP
fueconorg-10857	215	18	circulation	circulation	NOUN
fueconorg-10857	215	19	and	and	CCONJ
fueconorg-10857	215	20	a	a	DET
fueconorg-10857	215	21	small	small	ADJ
fueconorg-10857	215	22	volume	volume	NOUN
fueconorg-10857	215	23	of	of	ADP
fueconorg-10857	215	24	total	total	ADJ
fueconorg-10857	215	25	transactions	transaction	NOUN
fueconorg-10857	215	26	.	.	PUNCT
fueconorg-10857	216	1	we	we	PRON
fueconorg-10857	216	2	noticed	notice	VERB
fueconorg-10857	216	3	that	that	SCONJ
fueconorg-10857	216	4	the	the	DET
fueconorg-10857	216	5	actual	actual	ADJ
fueconorg-10857	216	6	stock	stock	NOUN
fueconorg-10857	216	7	returns	return	NOUN
fueconorg-10857	216	8	in	in	ADP
fueconorg-10857	216	9	the	the	DET
fueconorg-10857	216	10	sample	sample	NOUN
fueconorg-10857	216	11	differed	differ	VERB
fueconorg-10857	216	12	significantly	significantly	ADV
fueconorg-10857	216	13	from	from	ADP
fueconorg-10857	216	14	those	those	PRON
fueconorg-10857	216	15	assumed	assume	VERB
fueconorg-10857	216	16	by	by	ADP
fueconorg-10857	216	17	the	the	DET
fueconorg-10857	216	18	capm	capm	PROPN
fueconorg-10857	216	19	model	model	NOUN
fueconorg-10857	216	20	.	.	PUNCT
fueconorg-10857	217	1	also	also	ADV
fueconorg-10857	217	2	,	,	PUNCT
fueconorg-10857	217	3	based	base	VERB
fueconorg-10857	217	4	on	on	ADP
fueconorg-10857	217	5	the	the	DET
fueconorg-10857	217	6	obtained	obtain	VERB
fueconorg-10857	217	7	results	result	NOUN
fueconorg-10857	217	8	,	,	PUNCT
fueconorg-10857	217	9	we	we	PRON
fueconorg-10857	217	10	could	could	AUX
fueconorg-10857	217	11	conclude	conclude	VERB
fueconorg-10857	217	12	that	that	SCONJ
fueconorg-10857	217	13	the	the	DET
fueconorg-10857	217	14	biggest	big	ADJ
fueconorg-10857	217	15	limitation	limitation	NOUN
fueconorg-10857	217	16	of	of	ADP
fueconorg-10857	217	17	this	this	DET
fueconorg-10857	217	18	research	research	NOUN
fueconorg-10857	217	19	is	be	AUX
fueconorg-10857	217	20	the	the	DET
fueconorg-10857	217	21	examination	examination	NOUN
fueconorg-10857	217	22	of	of	ADP
fueconorg-10857	217	23	the	the	DET
fueconorg-10857	217	24	variable	variable	NOUN
fueconorg-10857	217	25	covered	cover	VERB
fueconorg-10857	217	26	by	by	ADP
fueconorg-10857	217	27	the	the	DET
fueconorg-10857	217	28	capm	capm	PROPN
fueconorg-10857	217	29	model	model	NOUN
fueconorg-10857	217	30	.	.	PUNCT
fueconorg-10857	218	1	the	the	DET
fueconorg-10857	218	2	significance	significance	NOUN
fueconorg-10857	218	3	of	of	ADP
fueconorg-10857	218	4	the	the	DET
fueconorg-10857	218	5	research	research	NOUN
fueconorg-10857	218	6	is	be	AUX
fueconorg-10857	218	7	reflected	reflect	VERB
fueconorg-10857	218	8	in	in	ADP
fueconorg-10857	218	9	the	the	DET
fueconorg-10857	218	10	knowledge	knowledge	NOUN
fueconorg-10857	218	11	that	that	SCONJ
fueconorg-10857	218	12	the	the	DET
fueconorg-10857	218	13	basic	basic	ADJ
fueconorg-10857	218	14	assumptions	assumption	NOUN
fueconorg-10857	218	15	of	of	ADP
fueconorg-10857	218	16	the	the	DET
fueconorg-10857	218	17	capm	capm	PROPN
fueconorg-10857	218	18	model	model	NOUN
fueconorg-10857	218	19	can	can	AUX
fueconorg-10857	218	20	not	not	PART
fueconorg-10857	218	21	be	be	AUX
fueconorg-10857	218	22	applied	apply	VERB
fueconorg-10857	218	23	in	in	ADP
fueconorg-10857	218	24	the	the	DET
fueconorg-10857	218	25	process	process	NOUN
fueconorg-10857	218	26	of	of	ADP
fueconorg-10857	218	27	predicting	predict	VERB
fueconorg-10857	218	28	future	future	ADJ
fueconorg-10857	218	29	returns	return	NOUN
fueconorg-10857	218	30	of	of	ADP
fueconorg-10857	218	31	shares	share	NOUN
fueconorg-10857	218	32	in	in	ADP
fueconorg-10857	218	33	the	the	DET
fueconorg-10857	218	34	serbian	serbian	ADJ
fueconorg-10857	218	35	capital	capital	NOUN
fueconorg-10857	218	36	market	market	NOUN
fueconorg-10857	218	37	.	.	PUNCT
fueconorg-10857	219	1	research	research	NOUN
fueconorg-10857	219	2	is	be	AUX
fueconorg-10857	219	3	primarily	primarily	ADV
fueconorg-10857	219	4	intended	intend	VERB
fueconorg-10857	219	5	for	for	ADP
fueconorg-10857	219	6	potential	potential	ADJ
fueconorg-10857	219	7	investors	investor	NOUN
fueconorg-10857	219	8	in	in	ADP
fueconorg-10857	219	9	shares	share	NOUN
fueconorg-10857	219	10	on	on	ADP
fueconorg-10857	219	11	the	the	DET
fueconorg-10857	219	12	belgrade	belgrade	PROPN
fueconorg-10857	219	13	stock	stock	PROPN
fueconorg-10857	219	14	exchange	exchange	PROPN
fueconorg-10857	219	15	,	,	PUNCT
fueconorg-10857	219	16	firstly	firstly	ADV
fueconorg-10857	219	17	to	to	PART
fueconorg-10857	219	18	understand	understand	VERB
fueconorg-10857	219	19	the	the	DET
fueconorg-10857	219	20	application	application	NOUN
fueconorg-10857	219	21	of	of	ADP
fueconorg-10857	219	22	the	the	DET
fueconorg-10857	219	23	capm	capm	PROPN
fueconorg-10857	219	24	model	model	NOUN
fueconorg-10857	219	25	,	,	PUNCT
fueconorg-10857	219	26	and	and	CCONJ
fueconorg-10857	219	27	secondly	secondly	ADV
fueconorg-10857	219	28	to	to	PART
fueconorg-10857	219	29	recognize	recognize	VERB
fueconorg-10857	219	30	the	the	DET
fueconorg-10857	219	31	incompleteness	incompleteness	NOUN
fueconorg-10857	219	32	of	of	ADP
fueconorg-10857	219	33	the	the	DET
fueconorg-10857	219	34	model	model	NOUN
fueconorg-10857	219	35	itself	itself	PRON
fueconorg-10857	219	36	in	in	ADP
fueconorg-10857	219	37	the	the	DET
fueconorg-10857	219	38	valuation	valuation	NOUN
fueconorg-10857	219	39	of	of	ADP
fueconorg-10857	219	40	shares	share	NOUN
fueconorg-10857	219	41	on	on	ADP
fueconorg-10857	219	42	the	the	DET
fueconorg-10857	219	43	serbian	serbian	ADJ
fueconorg-10857	219	44	capital	capital	NOUN
fueconorg-10857	219	45	market	market	NOUN
fueconorg-10857	219	46	.	.	PUNCT
fueconorg-10857	220	1	as	as	SCONJ
fueconorg-10857	220	2	it	it	PRON
fueconorg-10857	220	3	was	be	AUX
fueconorg-10857	220	4	discovered	discover	VERB
fueconorg-10857	220	5	in	in	ADP
fueconorg-10857	220	6	the	the	DET
fueconorg-10857	220	7	study	study	NOUN
fueconorg-10857	220	8	that	that	SCONJ
fueconorg-10857	220	9	the	the	DET
fueconorg-10857	220	10	capm	capm	PROPN
fueconorg-10857	220	11	model	model	NOUN
fueconorg-10857	220	12	has	have	VERB
fueconorg-10857	220	13	certain	certain	ADJ
fueconorg-10857	220	14	limitations	limitation	NOUN
fueconorg-10857	220	15	mentioned	mention	VERB
fueconorg-10857	220	16	earlier	early	ADV
fueconorg-10857	220	17	in	in	ADP
fueconorg-10857	220	18	the	the	DET
fueconorg-10857	220	19	research	research	NOUN
fueconorg-10857	220	20	,	,	PUNCT
fueconorg-10857	220	21	for	for	ADP
fueconorg-10857	220	22	future	future	ADJ
fueconorg-10857	220	23	research	research	NOUN
fueconorg-10857	220	24	it	it	PRON
fueconorg-10857	220	25	is	be	AUX
fueconorg-10857	220	26	suggested	suggest	VERB
fueconorg-10857	220	27	to	to	PART
fueconorg-10857	220	28	apply	apply	VERB
fueconorg-10857	220	29	the	the	DET
fueconorg-10857	220	30	apt	apt	ADJ
fueconorg-10857	220	31	(	(	PUNCT
fueconorg-10857	220	32	arbitrage	arbitrage	NOUN
fueconorg-10857	220	33	pricing	pricing	NOUN
fueconorg-10857	220	34	theory	theory	NOUN
fueconorg-10857	220	35	)	)	PUNCT
fueconorg-10857	220	36	model	model	NOUN
fueconorg-10857	220	37	in	in	ADP
fueconorg-10857	220	38	the	the	DET
fueconorg-10857	220	39	assessment	assessment	NOUN
fueconorg-10857	220	40	of	of	ADP
fueconorg-10857	220	41	the	the	DET
fueconorg-10857	220	42	movement	movement	NOUN
fueconorg-10857	220	43	of	of	ADP
fueconorg-10857	220	44	stock	stock	NOUN
fueconorg-10857	220	45	returns	return	NOUN
fueconorg-10857	220	46	,	,	PUNCT
fueconorg-10857	220	47	as	as	ADV
fueconorg-10857	220	48	well	well	ADV
fueconorg-10857	220	49	as	as	ADP
fueconorg-10857	220	50	the	the	DET
fueconorg-10857	220	51	research	research	NOUN
fueconorg-10857	220	52	of	of	ADP
fueconorg-10857	220	53	the	the	DET
fueconorg-10857	220	54	ex	ex	NOUN
fueconorg-10857	220	55	-	-	NOUN
fueconorg-10857	220	56	ante	ante	NOUN
fueconorg-10857	220	57	ff3	ff3	PROPN
fueconorg-10857	220	58	m	m	PROPN
fueconorg-10857	220	59	(	(	PUNCT
fueconorg-10857	220	60	fama	fama	PROPN
fueconorg-10857	220	61	&	&	CCONJ
fueconorg-10857	220	62	french	french	ADJ
fueconorg-10857	220	63	)	)	PUNCT
fueconorg-10857	220	64	model	model	NOUN
fueconorg-10857	220	65	,	,	PUNCT
fueconorg-10857	220	66	which	which	PRON
fueconorg-10857	220	67	was	be	AUX
fueconorg-10857	220	68	shown	show	VERB
fueconorg-10857	220	69	in	in	ADP
fueconorg-10857	220	70	previous	previous	ADJ
fueconorg-10857	220	71	studies	study	NOUN
fueconorg-10857	220	72	to	to	PART
fueconorg-10857	220	73	be	be	AUX
fueconorg-10857	220	74	more	more	ADV
fueconorg-10857	220	75	precise	precise	ADJ
fueconorg-10857	220	76	.	.	PUNCT
fueconorg-10857	221	1	references	reference	NOUN
fueconorg-10857	221	2	anghel	anghel	PROPN
fueconorg-10857	221	3	,	,	PUNCT
fueconorg-10857	221	4	m.	m.	NOUN
fueconorg-10857	221	5	g.	g.	PROPN
fueconorg-10857	221	6	,	,	PUNCT
fueconorg-10857	221	7	&	&	CCONJ
fueconorg-10857	221	8	paschia	paschia	PROPN
fueconorg-10857	221	9	,	,	PUNCT
fueconorg-10857	221	10	l.	l.	PROPN
fueconorg-10857	221	11	(	(	PUNCT
fueconorg-10857	221	12	2013	2013	NUM
fueconorg-10857	221	13	)	)	PUNCT
fueconorg-10857	221	14	.	.	PUNCT
fueconorg-10857	222	1	using	use	VERB
fueconorg-10857	222	2	the	the	DET
fueconorg-10857	222	3	capm	capm	PROPN
fueconorg-10857	222	4	model	model	NOUN
fueconorg-10857	222	5	to	to	PART
fueconorg-10857	222	6	estimate	estimate	VERB
fueconorg-10857	222	7	the	the	DET
fueconorg-10857	222	8	profitability	profitability	NOUN
fueconorg-10857	222	9	of	of	ADP
fueconorg-10857	222	10	a	a	DET
fueconorg-10857	222	11	financial	financial	ADJ
fueconorg-10857	222	12	instrument	instrument	NOUN
fueconorg-10857	222	13	portfolio	portfolio	NOUN
fueconorg-10857	222	14	.	.	PUNCT
fueconorg-10857	223	1	annales	annale	VERB
fueconorg-10857	223	2	universitatis	universitatis	PROPN
fueconorg-10857	223	3	apulensis	apulensis	NOUN
fueconorg-10857	223	4	:	:	PUNCT
fueconorg-10857	223	5	series	series	PROPN
fueconorg-10857	223	6	oeconomica	oeconomica	PROPN
fueconorg-10857	223	7	,	,	PUNCT
fueconorg-10857	223	8	15(2	15(2	NUM
fueconorg-10857	223	9	)	)	PUNCT
fueconorg-10857	223	10	,	,	PUNCT
fueconorg-10857	223	11	541	541	NUM
fueconorg-10857	223	12	-	-	SYM
fueconorg-10857	223	13	551	551	NUM
fueconorg-10857	223	14	.	.	PUNCT
fueconorg-10857	224	1	ansari	ansari	ADJ
fueconorg-10857	224	2	,	,	PUNCT
fueconorg-10857	224	3	v.	v.	ADP
fueconorg-10857	224	4	a.	a.	NOUN
fueconorg-10857	224	5	(	(	PUNCT
fueconorg-10857	224	6	2000	2000	NUM
fueconorg-10857	224	7	)	)	PUNCT
fueconorg-10857	224	8	.	.	PUNCT
fueconorg-10857	225	1	capital	capital	NOUN
fueconorg-10857	225	2	asset	asset	NOUN
fueconorg-10857	225	3	pricing	pricing	NOUN
fueconorg-10857	225	4	model	model	NOUN
fueconorg-10857	225	5	:	:	PUNCT
fueconorg-10857	225	6	should	should	AUX
fueconorg-10857	225	7	we	we	PRON
fueconorg-10857	225	8	stop	stop	VERB
fueconorg-10857	225	9	using	use	VERB
fueconorg-10857	225	10	it	it	PRON
fueconorg-10857	225	11	?	?	PUNCT
fueconorg-10857	225	12	.	.	PUNCT
fueconorg-10857	226	1	vikalpa	vikalpa	PROPN
fueconorg-10857	226	2	,	,	PUNCT
fueconorg-10857	226	3	25(1	25(1	NUM
fueconorg-10857	226	4	)	)	PUNCT
fueconorg-10857	226	5	,	,	PUNCT
fueconorg-10857	226	6	55	55	NUM
fueconorg-10857	226	7	-	-	SYM
fueconorg-10857	226	8	64	64	NUM
fueconorg-10857	226	9	.	.	PUNCT
fueconorg-10857	227	1	https://doi.org/10.1177/0256090920000114	https://doi.org/10.1177/0256090920000114	X
fueconorg-10857	228	1	bao	bao	PROPN
fueconorg-10857	228	2	,	,	PUNCT
fueconorg-10857	228	3	t.	t.	PROPN
fueconorg-10857	228	4	,	,	PUNCT
fueconorg-10857	228	5	diks	dik	NOUN
fueconorg-10857	228	6	,	,	PUNCT
fueconorg-10857	228	7	c.	c.	PROPN
fueconorg-10857	228	8	,	,	PUNCT
fueconorg-10857	228	9	&	&	CCONJ
fueconorg-10857	228	10	li	li	PROPN
fueconorg-10857	228	11	,	,	PUNCT
fueconorg-10857	228	12	h.	h.	PROPN
fueconorg-10857	228	13	(	(	PUNCT
fueconorg-10857	228	14	2018	2018	NUM
fueconorg-10857	228	15	)	)	PUNCT
fueconorg-10857	228	16	.	.	PUNCT
fueconorg-10857	229	1	a	a	DET
fueconorg-10857	229	2	generalized	generalized	ADJ
fueconorg-10857	229	3	capm	capm	PROPN
fueconorg-10857	229	4	model	model	NOUN
fueconorg-10857	229	5	with	with	ADP
fueconorg-10857	229	6	asymmetric	asymmetric	ADJ
fueconorg-10857	229	7	power	power	NOUN
fueconorg-10857	229	8	distributed	distribute	VERB
fueconorg-10857	229	9	errors	error	NOUN
fueconorg-10857	229	10	with	with	ADP
fueconorg-10857	229	11	an	an	DET
fueconorg-10857	229	12	application	application	NOUN
fueconorg-10857	229	13	to	to	ADP
fueconorg-10857	229	14	portfolio	portfolio	NOUN
fueconorg-10857	229	15	construction	construction	NOUN
fueconorg-10857	229	16	.	.	PUNCT
fueconorg-10857	230	1	economic	economic	ADJ
fueconorg-10857	230	2	modelling	modelling	NOUN
fueconorg-10857	230	3	,	,	PUNCT
fueconorg-10857	230	4	68	68	NUM
fueconorg-10857	230	5	,	,	PUNCT
fueconorg-10857	230	6	611	611	NUM
fueconorg-10857	230	7	-	-	SYM
fueconorg-10857	230	8	621	621	NUM
fueconorg-10857	230	9	.	.	PUNCT
fueconorg-10857	231	1	https://doi.org/10.1016/j	https://doi.org/10.1016/j	NOUN
fueconorg-10857	231	2	.	.	PUNCT
fueconorg-10857	231	3	econmod.2017.03.035	econmod.2017.03.035	VERB
fueconorg-10857	232	1	balteș	balteș	ADJ
fueconorg-10857	232	2	,	,	PUNCT
fueconorg-10857	232	3	n.	n.	NOUN
fueconorg-10857	232	4	,	,	PUNCT
fueconorg-10857	232	5	dragoe	dragoe	NOUN
fueconorg-10857	232	6	,	,	PUNCT
fueconorg-10857	232	7	a.	a.	NOUN
fueconorg-10857	232	8	g.	g.	PROPN
fueconorg-10857	232	9	m.	m.	PROPN
fueconorg-10857	232	10	,	,	PUNCT
fueconorg-10857	232	11	&	&	CCONJ
fueconorg-10857	232	12	ardelean	ardelean	PROPN
fueconorg-10857	232	13	,	,	PUNCT
fueconorg-10857	232	14	d.	d.	PROPN
fueconorg-10857	232	15	i.	i.	PROPN
fueconorg-10857	232	16	(	(	PUNCT
fueconorg-10857	232	17	2014	2014	NUM
fueconorg-10857	232	18	)	)	PUNCT
fueconorg-10857	232	19	.	.	PUNCT
fueconorg-10857	233	1	study	study	NOUN
fueconorg-10857	233	2	regarding	regard	VERB
fueconorg-10857	233	3	the	the	DET
fueconorg-10857	233	4	assets	asset	NOUN
fueconorg-10857	233	5	evaluation	evaluation	NOUN
fueconorg-10857	233	6	on	on	ADP
fueconorg-10857	233	7	the	the	DET
fueconorg-10857	233	8	financial	financial	ADJ
fueconorg-10857	233	9	market	market	NOUN
fueconorg-10857	233	10	through	through	ADP
fueconorg-10857	233	11	the	the	DET
fueconorg-10857	233	12	c.a.p.m	c.a.p.m	PROPN
fueconorg-10857	233	13	.	.	PUNCT
fueconorg-10857	233	14	model	model	PROPN
fueconorg-10857	233	15	.	.	PUNCT
fueconorg-10857	234	1	studia	studia	PROPN
fueconorg-10857	234	2	universitatis	universitatis	PROPN
fueconorg-10857	234	3	vasile	vasile	PROPN
fueconorg-10857	234	4	goldiș	goldiș	NOUN
fueconorg-10857	234	5	arad	arad	PROPN
fueconorg-10857	234	6	,	,	PUNCT
fueconorg-10857	234	7	seria	seria	PROPN
fueconorg-10857	234	8	științe	științe	PROPN
fueconorg-10857	234	9	economice	economice	PROPN
fueconorg-10857	234	10	,	,	PUNCT
fueconorg-10857	234	11	24(3	24(3	NUM
fueconorg-10857	234	12	)	)	PUNCT
fueconorg-10857	234	13	,	,	PUNCT
fueconorg-10857	234	14	78	78	NUM
fueconorg-10857	234	15	-	-	SYM
fueconorg-10857	234	16	87	87	NUM
fueconorg-10857	234	17	.	.	PUNCT
fueconorg-10857	235	1	retrieved	retrieve	VERB
fueconorg-10857	235	2	from	from	ADP
fueconorg-10857	235	3	https://publicatii.uvvg.ro/index.php/studiaeconomia/article/view/270	https://publicatii.uvvg.ro/index.php/studiaeconomia/article/view/270	PROPN
fueconorg-10857	235	4	myers	myers	PROPN
fueconorg-10857	235	5	,	,	PUNCT
fueconorg-10857	235	6	s.	s.	PROPN
fueconorg-10857	235	7	c.	c.	PROPN
fueconorg-10857	235	8	,	,	PUNCT
fueconorg-10857	235	9	allen	allen	PROPN
fueconorg-10857	235	10	,	,	PUNCT
fueconorg-10857	235	11	f.	f.	PROPN
fueconorg-10857	235	12	,	,	PUNCT
fueconorg-10857	235	13	&	&	CCONJ
fueconorg-10857	235	14	mohanty	mohanty	PROPN
fueconorg-10857	235	15	,	,	PUNCT
fueconorg-10857	235	16	p.	p.	NOUN
fueconorg-10857	235	17	(	(	PUNCT
fueconorg-10857	235	18	2016	2016	NUM
fueconorg-10857	235	19	)	)	PUNCT
fueconorg-10857	235	20	.	.	PUNCT
fueconorg-10857	236	1	principles	principle	NOUN
fueconorg-10857	236	2	of	of	ADP
fueconorg-10857	236	3	corporate	corporate	ADJ
fueconorg-10857	236	4	finance	finance	NOUN
fueconorg-10857	236	5	,	,	PUNCT
fueconorg-10857	236	6	12	12	NUM
fueconorg-10857	236	7	/	/	SYM
fueconorg-10857	236	8	e	e	NOUN
fueconorg-10857	236	9	(	(	PUNCT
fueconorg-10857	236	10	vol	vol	NOUN
fueconorg-10857	236	11	.	.	PROPN
fueconorg-10857	236	12	12	12	NUM
fueconorg-10857	236	13	)	)	PUNCT
fueconorg-10857	236	14	.	.	PUNCT
fueconorg-10857	237	1	mcgraw	mcgraw	PROPN
fueconorg-10857	237	2	-	-	PUNCT
fueconorg-10857	237	3	hill	hill	NOUN
fueconorg-10857	237	4	education	education	NOUN
fueconorg-10857	237	5	.	.	PUNCT
fueconorg-10857	238	1	brandimarte	brandimarte	PROPN
fueconorg-10857	238	2	,	,	PUNCT
fueconorg-10857	238	3	p.	p.	NOUN
fueconorg-10857	238	4	(	(	PUNCT
fueconorg-10857	238	5	2017	2017	NUM
fueconorg-10857	238	6	)	)	PUNCT
fueconorg-10857	238	7	.	.	PUNCT
fueconorg-10857	239	1	an	an	DET
fueconorg-10857	239	2	introduction	introduction	NOUN
fueconorg-10857	239	3	to	to	ADP
fueconorg-10857	239	4	financial	financial	ADJ
fueconorg-10857	239	5	markets	market	NOUN
fueconorg-10857	239	6	:	:	PUNCT
fueconorg-10857	239	7	a	a	DET
fueconorg-10857	239	8	quantitative	quantitative	ADJ
fueconorg-10857	239	9	approach	approach	NOUN
fueconorg-10857	239	10	.	.	PUNCT
fueconorg-10857	240	1	john	john	PROPN
fueconorg-10857	240	2	wiley	wiley	PROPN
fueconorg-10857	240	3	&	&	CCONJ
fueconorg-10857	240	4	sons	son	NOUN
fueconorg-10857	240	5	.	.	PUNCT
fueconorg-10857	241	1	https://doi.org/10.1002/9781119450290.ch10	https://doi.org/10.1002/9781119450290.ch10	PROPN
fueconorg-10857	241	2	campbell	campbell	PROPN
fueconorg-10857	241	3	,	,	PUNCT
fueconorg-10857	241	4	j.	j.	PROPN
fueconorg-10857	241	5	y.	y.	PROPN
fueconorg-10857	241	6	,	,	PUNCT
fueconorg-10857	241	7	giglio	giglio	PROPN
fueconorg-10857	241	8	,	,	PUNCT
fueconorg-10857	241	9	s.	s.	PROPN
fueconorg-10857	241	10	,	,	PUNCT
fueconorg-10857	241	11	polk	polk	PROPN
fueconorg-10857	241	12	,	,	PUNCT
fueconorg-10857	241	13	c.	c.	PROPN
fueconorg-10857	241	14	,	,	PUNCT
fueconorg-10857	241	15	&	&	CCONJ
fueconorg-10857	241	16	turley	turley	PROPN
fueconorg-10857	241	17	,	,	PUNCT
fueconorg-10857	241	18	r.	r.	PROPN
fueconorg-10857	241	19	(	(	PUNCT
fueconorg-10857	241	20	2018	2018	NUM
fueconorg-10857	241	21	)	)	PUNCT
fueconorg-10857	241	22	.	.	PUNCT
fueconorg-10857	242	1	an	an	DET
fueconorg-10857	242	2	intertemporal	intertemporal	ADJ
fueconorg-10857	242	3	capm	capm	NOUN
fueconorg-10857	242	4	with	with	ADP
fueconorg-10857	242	5	stochastic	stochastic	ADJ
fueconorg-10857	242	6	volatility	volatility	NOUN
fueconorg-10857	242	7	.	.	PUNCT
fueconorg-10857	243	1	journal	journal	NOUN
fueconorg-10857	243	2	of	of	ADP
fueconorg-10857	243	3	financial	financial	ADJ
fueconorg-10857	243	4	economics	economic	NOUN
fueconorg-10857	243	5	,	,	PUNCT
fueconorg-10857	243	6	128(2	128(2	NUM
fueconorg-10857	243	7	)	)	PUNCT
fueconorg-10857	243	8	,	,	PUNCT
fueconorg-10857	243	9	207	207	NUM
fueconorg-10857	243	10	-	-	SYM
fueconorg-10857	243	11	233	233	NUM
fueconorg-10857	243	12	.	.	PUNCT
fueconorg-10857	244	1	https://doi.org/10.1016/j.jfineco.2018.02.011	https://doi.org/10.1016/j.jfineco.2018.02.011	PROPN
fueconorg-10857	244	2	džaja	džaja	NOUN
fueconorg-10857	244	3	,	,	PUNCT
fueconorg-10857	244	4	j.	j.	PROPN
fueconorg-10857	244	5	,	,	PUNCT
fueconorg-10857	244	6	&	&	CCONJ
fueconorg-10857	244	7	aljinović	aljinović	PROPN
fueconorg-10857	244	8	,	,	PUNCT
fueconorg-10857	244	9	z.	z.	PROPN
fueconorg-10857	244	10	(	(	PUNCT
fueconorg-10857	244	11	2013	2013	NUM
fueconorg-10857	244	12	)	)	PUNCT
fueconorg-10857	244	13	.	.	PUNCT
fueconorg-10857	245	1	testing	test	VERB
fueconorg-10857	245	2	capm	capm	PROPN
fueconorg-10857	245	3	model	model	NOUN
fueconorg-10857	245	4	on	on	ADP
fueconorg-10857	245	5	the	the	DET
fueconorg-10857	245	6	emerging	emerge	VERB
fueconorg-10857	245	7	markets	market	NOUN
fueconorg-10857	245	8	of	of	ADP
fueconorg-10857	245	9	central	central	ADJ
fueconorg-10857	245	10	and	and	CCONJ
fueconorg-10857	245	11	southeastern	southeastern	ADJ
fueconorg-10857	245	12	europe	europe	PROPN
fueconorg-10857	245	13	.	.	PUNCT
fueconorg-10857	246	1	croatian	croatian	PROPN
fueconorg-10857	246	2	operational	operational	ADJ
fueconorg-10857	246	3	research	research	PROPN
fueconorg-10857	246	4	review	review	PROPN
fueconorg-10857	246	5	,	,	PUNCT
fueconorg-10857	246	6	4(1	4(1	NOUN
fueconorg-10857	246	7	)	)	PUNCT
fueconorg-10857	246	8	,	,	PUNCT
fueconorg-10857	246	9	164	164	NUM
fueconorg-10857	246	10	-	-	SYM
fueconorg-10857	246	11	175	175	NUM
fueconorg-10857	246	12	.	.	PUNCT
fueconorg-10857	247	1	uri	uri	NOUN
fueconorg-10857	247	2	:	:	PUNCT
fueconorg-10857	247	3	https://hrcak.srce.hr/97395	https://hrcak.srce.hr/97395	PROPN
fueconorg-10857	247	4	fama	fama	PROPN
fueconorg-10857	247	5	,	,	PUNCT
fueconorg-10857	247	6	e.	e.	PROPN
fueconorg-10857	247	7	f.	f.	PROPN
fueconorg-10857	247	8	,	,	PUNCT
fueconorg-10857	247	9	&	&	CCONJ
fueconorg-10857	247	10	french	french	PROPN
fueconorg-10857	247	11	,	,	PUNCT
fueconorg-10857	247	12	k.	k.	PROPN
fueconorg-10857	247	13	r.	r.	PROPN
fueconorg-10857	247	14	(	(	PUNCT
fueconorg-10857	247	15	2004	2004	NUM
fueconorg-10857	247	16	)	)	PUNCT
fueconorg-10857	247	17	.	.	PUNCT
fueconorg-10857	248	1	the	the	DET
fueconorg-10857	248	2	capital	capital	NOUN
fueconorg-10857	248	3	asset	asset	NOUN
fueconorg-10857	248	4	pricing	pricing	NOUN
fueconorg-10857	248	5	model	model	NOUN
fueconorg-10857	248	6	:	:	PUNCT
fueconorg-10857	248	7	theory	theory	NOUN
fueconorg-10857	248	8	and	and	CCONJ
fueconorg-10857	248	9	evidence	evidence	NOUN
fueconorg-10857	248	10	.	.	PUNCT
fueconorg-10857	249	1	journal	journal	NOUN
fueconorg-10857	249	2	of	of	ADP
fueconorg-10857	249	3	economic	economic	ADJ
fueconorg-10857	249	4	perspectives	perspective	NOUN
fueconorg-10857	249	5	,	,	PUNCT
fueconorg-10857	249	6	18(3	18(3	NUM
fueconorg-10857	249	7	)	)	PUNCT
fueconorg-10857	249	8	,	,	PUNCT
fueconorg-10857	249	9	25	25	NUM
fueconorg-10857	249	10	-	-	SYM
fueconorg-10857	249	11	46	46	NUM
fueconorg-10857	249	12	.	.	PUNCT
fueconorg-10857	250	1	https://doi.org/10.1257/0895330042162430	https://doi.org/10.1257/0895330042162430	PROPN
fueconorg-10857	250	2	fernandez	fernandez	PROPN
fueconorg-10857	250	3	,	,	PUNCT
fueconorg-10857	250	4	p.	p.	NOUN
fueconorg-10857	250	5	(	(	PUNCT
fueconorg-10857	250	6	2019	2019	NUM
fueconorg-10857	250	7	)	)	PUNCT
fueconorg-10857	250	8	.	.	PUNCT
fueconorg-10857	251	1	wacc	wacc	PROPN
fueconorg-10857	251	2	and	and	CCONJ
fueconorg-10857	251	3	capm	capm	PROPN
fueconorg-10857	251	4	according	accord	VERB
fueconorg-10857	251	5	to	to	ADP
fueconorg-10857	251	6	utilities	utility	NOUN
fueconorg-10857	251	7	regulators	regulator	NOUN
fueconorg-10857	251	8	:	:	PUNCT
fueconorg-10857	251	9	confusions	confusion	NOUN
fueconorg-10857	251	10	,	,	PUNCT
fueconorg-10857	251	11	errors	error	NOUN
fueconorg-10857	251	12	and	and	CCONJ
fueconorg-10857	251	13	inconsistencies	inconsistency	NOUN
fueconorg-10857	251	14	.	.	PUNCT
fueconorg-10857	252	1	https://doi.org/10.2139/ssrn.3327206	https://doi.org/10.2139/ssrn.3327206	NOUN
fueconorg-10857	252	2	https://doi.org/10.1177/0256090920000114	https://doi.org/10.1177/0256090920000114	X
fueconorg-10857	252	3	https://doi.org/10.1016/j.%0beconmod.2017.03.035	https://doi.org/10.1016/j.%0beconmod.2017.03.035	PROPN
fueconorg-10857	252	4	https://doi.org/10.1016/j.%0beconmod.2017.03.035	https://doi.org/10.1016/j.%0beconmod.2017.03.035	PROPN
fueconorg-10857	252	5	https://publicatii.uvvg.ro/index.php/studiaeconomia/article/view/270	https://publicatii.uvvg.ro/index.php/studiaeconomia/article/view/270	PROPN
fueconorg-10857	253	1	https://doi.org/10.1002/9781119450290.ch10	https://doi.org/10.1002/9781119450290.ch10	PROPN
fueconorg-10857	253	2	https://doi.org/10.1016/j.jfineco.2018.02.011	https://doi.org/10.1016/j.jfineco.2018.02.011	PROPN
fueconorg-10857	253	3	https://hrcak.srce.hr/97395	https://hrcak.srce.hr/97395	PROPN
fueconorg-10857	253	4	https://doi.org/10.1257/0895330042162430	https://doi.org/10.1257/0895330042162430	PROPN
fueconorg-10857	253	5	https://doi.org/10.2139/ssrn.3327206	https://doi.org/10.2139/ssrn.3327206	NOUN
fueconorg-10857	253	6	196	196	NUM
fueconorg-10857	253	7	m.	m.	NOUN
fueconorg-10857	253	8	đaković	đaković	NOUN
fueconorg-10857	253	9	,	,	PUNCT
fueconorg-10857	253	10	j.	j.	PROPN
fueconorg-10857	253	11	andrašić	andrašić	PROPN
fueconorg-10857	253	12	,	,	PUNCT
fueconorg-10857	253	13	d.	d.	PROPN
fueconorg-10857	253	14	cicmil	cicmil	PROPN
fueconorg-10857	253	15	french	french	PROPN
fueconorg-10857	253	16	,	,	PUNCT
fueconorg-10857	253	17	j.	j.	PROPN
fueconorg-10857	253	18	(	(	PUNCT
fueconorg-10857	253	19	2017	2017	NUM
fueconorg-10857	253	20	)	)	PUNCT
fueconorg-10857	253	21	.	.	PUNCT
fueconorg-10857	254	1	macroeconomic	macroeconomic	ADJ
fueconorg-10857	254	2	forces	force	NOUN
fueconorg-10857	254	3	and	and	CCONJ
fueconorg-10857	254	4	arbitrage	arbitrage	NOUN
fueconorg-10857	254	5	pricing	pricing	NOUN
fueconorg-10857	254	6	theory	theory	NOUN
fueconorg-10857	254	7	.	.	PUNCT
fueconorg-10857	255	1	journal	journal	PROPN
fueconorg-10857	255	2	of	of	ADP
fueconorg-10857	255	3	comparative	comparative	ADJ
fueconorg-10857	255	4	asian	asian	ADJ
fueconorg-10857	255	5	development	development	NOUN
fueconorg-10857	255	6	,	,	PUNCT
fueconorg-10857	255	7	16(1	16(1	NUM
fueconorg-10857	255	8	)	)	PUNCT
fueconorg-10857	255	9	,	,	PUNCT
fueconorg-10857	255	10	1	1	NUM
fueconorg-10857	255	11	-	-	SYM
fueconorg-10857	255	12	20	20	NUM
fueconorg-10857	255	13	.	.	PUNCT
fueconorg-10857	256	1	https://doi.org/10.1080/15339114.2017.1297245	https://doi.org/10.1080/15339114.2017.1297245	PROPN
fueconorg-10857	256	2	gardner	gardner	PROPN
fueconorg-10857	256	3	,	,	PUNCT
fueconorg-10857	256	4	j.	j.	PROPN
fueconorg-10857	256	5	c.	c.	PROPN
fueconorg-10857	256	6	,	,	PUNCT
fueconorg-10857	256	7	mcgowan	mcgowan	PROPN
fueconorg-10857	256	8	jr	jr	PROPN
fueconorg-10857	256	9	,	,	PUNCT
fueconorg-10857	256	10	c.	c.	PROPN
fueconorg-10857	256	11	b.	b.	PROPN
fueconorg-10857	256	12	,	,	PUNCT
fueconorg-10857	256	13	&	&	CCONJ
fueconorg-10857	256	14	moeller	moeller	PROPN
fueconorg-10857	256	15	,	,	PUNCT
fueconorg-10857	256	16	s.	s.	PROPN
fueconorg-10857	256	17	e.	e.	PROPN
fueconorg-10857	256	18	(	(	PUNCT
fueconorg-10857	256	19	2010	2010	NUM
fueconorg-10857	256	20	)	)	PUNCT
fueconorg-10857	256	21	.	.	PUNCT
fueconorg-10857	257	1	calculating	calculate	VERB
fueconorg-10857	257	2	the	the	DET
fueconorg-10857	257	3	beta	beta	ADJ
fueconorg-10857	257	4	coefficient	coefficient	NOUN
fueconorg-10857	257	5	and	and	CCONJ
fueconorg-10857	257	6	required	required	ADJ
fueconorg-10857	257	7	rate	rate	NOUN
fueconorg-10857	257	8	of	of	ADP
fueconorg-10857	257	9	return	return	NOUN
fueconorg-10857	257	10	for	for	ADP
fueconorg-10857	257	11	coca	coca	PROPN
fueconorg-10857	257	12	-	-	PUNCT
fueconorg-10857	257	13	cola	cola	PROPN
fueconorg-10857	257	14	.	.	PUNCT
fueconorg-10857	258	1	journal	journal	PROPN
fueconorg-10857	258	2	of	of	ADP
fueconorg-10857	258	3	business	business	NOUN
fueconorg-10857	258	4	case	case	NOUN
fueconorg-10857	258	5	studies	study	NOUN
fueconorg-10857	258	6	(	(	PUNCT
fueconorg-10857	258	7	jbcs	jbcs	PROPN
fueconorg-10857	258	8	)	)	PUNCT
fueconorg-10857	258	9	,	,	PUNCT
fueconorg-10857	258	10	6(6	6(6	NOUN
fueconorg-10857	258	11	)	)	PUNCT
fueconorg-10857	258	12	,	,	PUNCT
fueconorg-10857	258	13	103	103	NUM
fueconorg-10857	258	14	-	-	SYM
fueconorg-10857	258	15	110	110	NUM
fueconorg-10857	258	16	.	.	PUNCT
fueconorg-10857	259	1	https://doi.org/10.19030/	https://doi.org/10.19030/	PROPN
fueconorg-10857	259	2	jbcs.v6i6.264	jbcs.v6i6.264	PROPN
fueconorg-10857	259	3	hundal	hundal	NOUN
fueconorg-10857	259	4	,	,	PUNCT
fueconorg-10857	259	5	s.	s.	PROPN
fueconorg-10857	259	6	,	,	PUNCT
fueconorg-10857	259	7	eskola	eskola	PROPN
fueconorg-10857	259	8	,	,	PUNCT
fueconorg-10857	259	9	a.	a.	PROPN
fueconorg-10857	259	10	,	,	PUNCT
fueconorg-10857	259	11	&	&	CCONJ
fueconorg-10857	259	12	tuan	tuan	PROPN
fueconorg-10857	259	13	,	,	PUNCT
fueconorg-10857	259	14	d.	d.	PROPN
fueconorg-10857	259	15	(	(	PUNCT
fueconorg-10857	259	16	2019	2019	NUM
fueconorg-10857	259	17	)	)	PUNCT
fueconorg-10857	259	18	.	.	PUNCT
fueconorg-10857	260	1	risk	risk	NOUN
fueconorg-10857	260	2	–	–	PUNCT
fueconorg-10857	260	3	return	return	NOUN
fueconorg-10857	260	4	relationship	relationship	NOUN
fueconorg-10857	260	5	in	in	ADP
fueconorg-10857	260	6	the	the	DET
fueconorg-10857	260	7	finnish	finnish	ADJ
fueconorg-10857	260	8	stock	stock	NOUN
fueconorg-10857	260	9	market	market	NOUN
fueconorg-10857	260	10	in	in	ADP
fueconorg-10857	260	11	the	the	DET
fueconorg-10857	260	12	light	light	NOUN
fueconorg-10857	260	13	of	of	ADP
fueconorg-10857	260	14	capital	capital	NOUN
fueconorg-10857	260	15	asset	asset	NOUN
fueconorg-10857	260	16	pricing	pricing	NOUN
fueconorg-10857	260	17	model	model	NOUN
fueconorg-10857	260	18	(	(	PUNCT
fueconorg-10857	260	19	capm	capm	PROPN
fueconorg-10857	260	20	)	)	PUNCT
fueconorg-10857	260	21	.	.	PUNCT
fueconorg-10857	261	1	journal	journal	PROPN
fueconorg-10857	261	2	of	of	ADP
fueconorg-10857	261	3	transnational	transnational	ADJ
fueconorg-10857	261	4	management	management	NOUN
fueconorg-10857	261	5	,	,	PUNCT
fueconorg-10857	261	6	24(4	24(4	NOUN
fueconorg-10857	261	7	)	)	PUNCT
fueconorg-10857	261	8	,	,	PUNCT
fueconorg-10857	261	9	305	305	NUM
fueconorg-10857	261	10	-	-	SYM
fueconorg-10857	261	11	322	322	NUM
fueconorg-10857	261	12	.	.	PUNCT
fueconorg-10857	261	13	https://doi.org/10.1080/15475778.2019.1641394	https://doi.org/10.1080/15475778.2019.1641394	PROPN
fueconorg-10857	262	1	jakšić	jakšić	PROPN
fueconorg-10857	262	2	,	,	PUNCT
fueconorg-10857	262	3	m.	m.	NOUN
fueconorg-10857	262	4	,	,	PUNCT
fueconorg-10857	262	5	milanović	milanović	NOUN
fueconorg-10857	262	6	,	,	PUNCT
fueconorg-10857	262	7	m.	m.	NOUN
fueconorg-10857	262	8	,	,	PUNCT
fueconorg-10857	262	9	&	&	CCONJ
fueconorg-10857	262	10	stojković	stojković	PROPN
fueconorg-10857	262	11	,	,	PUNCT
fueconorg-10857	262	12	d.	d.	PROPN
fueconorg-10857	262	13	(	(	PUNCT
fueconorg-10857	262	14	2020	2020	NUM
fueconorg-10857	262	15	)	)	PUNCT
fueconorg-10857	262	16	.	.	PUNCT
fueconorg-10857	263	1	short	short	ADJ
fueconorg-10857	263	2	-	-	PUNCT
fueconorg-10857	263	3	term	term	NOUN
fueconorg-10857	263	4	forecasting	forecasting	NOUN
fueconorg-10857	263	5	of	of	ADP
fueconorg-10857	263	6	belexline	belexline	NOUN
fueconorg-10857	263	7	and	and	CCONJ
fueconorg-10857	263	8	belex15	belex15	ADJ
fueconorg-10857	263	9	movements	movement	NOUN
fueconorg-10857	263	10	.	.	PUNCT
fueconorg-10857	264	1	facta	facta	PROPN
fueconorg-10857	264	2	universitatis	universitatis	PROPN
fueconorg-10857	264	3	,	,	PUNCT
fueconorg-10857	264	4	series	series	NOUN
fueconorg-10857	264	5	:	:	PUNCT
fueconorg-10857	264	6	economics	economic	NOUN
fueconorg-10857	264	7	and	and	CCONJ
fueconorg-10857	264	8	organization	organization	NOUN
fueconorg-10857	264	9	,	,	PUNCT
fueconorg-10857	264	10	17(1	17(1	NUM
fueconorg-10857	264	11	)	)	PUNCT
fueconorg-10857	264	12	,	,	PUNCT
fueconorg-10857	264	13	087	087	NUM
fueconorg-10857	264	14	-	-	PUNCT
fueconorg-10857	264	15	096	096	NUM
fueconorg-10857	264	16	.	.	PUNCT
fueconorg-10857	264	17	https://doi.org/	https://doi.org/	VERB
fueconorg-10857	264	18	10.22190	10.22190	NUM
fueconorg-10857	264	19	/	/	SYM
fueconorg-10857	264	20	fueo190828007j	fueo190828007j	PROPN
fueconorg-10857	264	21	kisman	kisman	NOUN
fueconorg-10857	264	22	,	,	PUNCT
fueconorg-10857	264	23	z.	z.	PROPN
fueconorg-10857	264	24	,	,	PUNCT
fueconorg-10857	264	25	&	&	CCONJ
fueconorg-10857	264	26	restiyanita	restiyanita	PROPN
fueconorg-10857	264	27	,	,	PUNCT
fueconorg-10857	264	28	s.	s.	PROPN
fueconorg-10857	264	29	(	(	PUNCT
fueconorg-10857	264	30	2015	2015	NUM
fueconorg-10857	264	31	)	)	PUNCT
fueconorg-10857	264	32	.	.	PUNCT
fueconorg-10857	265	1	the	the	DET
fueconorg-10857	265	2	validity	validity	NOUN
fueconorg-10857	265	3	of	of	ADP
fueconorg-10857	265	4	capital	capital	NOUN
fueconorg-10857	265	5	asset	asset	NOUN
fueconorg-10857	265	6	pricing	pricing	NOUN
fueconorg-10857	265	7	model	model	NOUN
fueconorg-10857	265	8	(	(	PUNCT
fueconorg-10857	265	9	capm	capm	PROPN
fueconorg-10857	265	10	)	)	PUNCT
fueconorg-10857	265	11	and	and	CCONJ
fueconorg-10857	265	12	arbitrage	arbitrage	NOUN
fueconorg-10857	265	13	pricing	pricing	NOUN
fueconorg-10857	265	14	theory	theory	NOUN
fueconorg-10857	265	15	(	(	PUNCT
fueconorg-10857	265	16	apt	apt	ADJ
fueconorg-10857	265	17	)	)	PUNCT
fueconorg-10857	265	18	in	in	ADP
fueconorg-10857	265	19	predicting	predict	VERB
fueconorg-10857	265	20	the	the	DET
fueconorg-10857	265	21	return	return	NOUN
fueconorg-10857	265	22	of	of	ADP
fueconorg-10857	265	23	stocks	stock	NOUN
fueconorg-10857	265	24	in	in	ADP
fueconorg-10857	265	25	indonesia	indonesia	PROPN
fueconorg-10857	265	26	stock	stock	PROPN
fueconorg-10857	265	27	exchange	exchange	PROPN
fueconorg-10857	265	28	.	.	PUNCT
fueconorg-10857	266	1	american	american	ADJ
fueconorg-10857	266	2	journal	journal	PROPN
fueconorg-10857	266	3	of	of	ADP
fueconorg-10857	266	4	economics	economic	NOUN
fueconorg-10857	266	5	,	,	PUNCT
fueconorg-10857	266	6	finance	finance	NOUN
fueconorg-10857	266	7	,	,	PUNCT
fueconorg-10857	266	8	and	and	CCONJ
fueconorg-10857	266	9	management	management	NOUN
fueconorg-10857	266	10	,	,	PUNCT
fueconorg-10857	266	11	1(3	1(3	NUM
fueconorg-10857	266	12	)	)	PUNCT
fueconorg-10857	266	13	,	,	PUNCT
fueconorg-10857	266	14	184	184	NUM
fueconorg-10857	266	15	-	-	SYM
fueconorg-10857	266	16	189	189	NUM
fueconorg-10857	266	17	.	.	PUNCT
fueconorg-10857	266	18	url	url	PROPN
fueconorg-10857	266	19	:	:	PUNCT
fueconorg-10857	266	20	http://www.aiscience.org/journal/ajefm	http://www.aiscience.org/journal/ajefm	PROPN
fueconorg-10857	266	21	khudoykulov	khudoykulov	NOUN
fueconorg-10857	266	22	,	,	PUNCT
fueconorg-10857	266	23	k.	k.	PROPN
fueconorg-10857	266	24	,	,	PUNCT
fueconorg-10857	266	25	khamidov	khamidov	PROPN
fueconorg-10857	266	26	,	,	PUNCT
fueconorg-10857	266	27	o.	o.	PROPN
fueconorg-10857	266	28	,	,	PUNCT
fueconorg-10857	266	29	&	&	CCONJ
fueconorg-10857	266	30	aktamov	aktamov	NOUN
fueconorg-10857	266	31	,	,	PUNCT
fueconorg-10857	266	32	a.	a.	NOUN
fueconorg-10857	266	33	(	(	PUNCT
fueconorg-10857	266	34	2015	2015	NUM
fueconorg-10857	266	35	)	)	PUNCT
fueconorg-10857	266	36	.	.	PUNCT
fueconorg-10857	267	1	testing	test	VERB
fueconorg-10857	267	2	capital	capital	NOUN
fueconorg-10857	267	3	assert	assert	VERB
fueconorg-10857	267	4	pricing	pricing	NOUN
fueconorg-10857	267	5	model	model	NOUN
fueconorg-10857	267	6	(	(	PUNCT
fueconorg-10857	267	7	capm	capm	PROPN
fueconorg-10857	267	8	)	)	PUNCT
fueconorg-10857	267	9	on	on	ADP
fueconorg-10857	267	10	the	the	DET
fueconorg-10857	267	11	emerging	emerge	VERB
fueconorg-10857	267	12	markets	market	NOUN
fueconorg-10857	267	13	of	of	ADP
fueconorg-10857	267	14	the	the	DET
fueconorg-10857	267	15	europe	europe	PROPN
fueconorg-10857	267	16	.	.	PUNCT
fueconorg-10857	268	1	spanish	spanish	ADJ
fueconorg-10857	268	2	journal	journal	PROPN
fueconorg-10857	268	3	of	of	ADP
fueconorg-10857	268	4	rural	rural	ADJ
fueconorg-10857	268	5	development	development	NOUN
fueconorg-10857	268	6	,	,	PUNCT
fueconorg-10857	268	7	6(3	6(3	NUM
fueconorg-10857	268	8	)	)	PUNCT
fueconorg-10857	268	9	,	,	PUNCT
fueconorg-10857	268	10	1	1	NUM
fueconorg-10857	268	11	-	-	SYM
fueconorg-10857	268	12	8	8	NUM
fueconorg-10857	268	13	.	.	PUNCT
fueconorg-10857	269	1	https://doi.org/	https://doi.org/	NOUN
fueconorg-10857	269	2	10.5261/2015.gen3.01	10.5261/2015.gen3.01	NUM
fueconorg-10857	269	3	krneta	krneta	PROPN
fueconorg-10857	269	4	s.	s.	PROPN
fueconorg-10857	269	5	(	(	PUNCT
fueconorg-10857	269	6	2006	2006	NUM
fueconorg-10857	269	7	)	)	PUNCT
fueconorg-10857	269	8	.	.	PUNCT
fueconorg-10857	270	1	portfolio	portfolio	NOUN
fueconorg-10857	270	2	hartija	hartija	PROPN
fueconorg-10857	270	3	od	od	PROPN
fueconorg-10857	270	4	vrednosti	vrednosti	PROPN
fueconorg-10857	270	5	i	i	PRON
fueconorg-10857	270	6	stragegije	stragegije	VERB
fueconorg-10857	271	1	upravljanja	upravljanja	ADJ
fueconorg-10857	271	2	portfoliom	portfoliom	NOUN
fueconorg-10857	271	3	[	[	X
fueconorg-10857	271	4	securities	security	NOUN
fueconorg-10857	271	5	portfolio	portfolio	NOUN
fueconorg-10857	271	6	and	and	CCONJ
fueconorg-10857	271	7	portfolio	portfolio	NOUN
fueconorg-10857	271	8	management	management	NOUN
fueconorg-10857	271	9	strategies	strategy	NOUN
fueconorg-10857	271	10	]	]	PUNCT
fueconorg-10857	271	11	.	.	PUNCT
fueconorg-10857	272	1	ekonomski	ekonomski	PROPN
fueconorg-10857	272	2	fakultet	fakultet	NOUN
fueconorg-10857	272	3	u	u	PROPN
fueconorg-10857	272	4	subotici	subotici	PROPN
fueconorg-10857	272	5	.	.	PUNCT
fueconorg-10857	273	1	lintner	lintner	PROPN
fueconorg-10857	273	2	,	,	PUNCT
fueconorg-10857	273	3	j.	j.	PROPN
fueconorg-10857	273	4	(	(	PUNCT
fueconorg-10857	273	5	1965	1965	NUM
fueconorg-10857	273	6	)	)	PUNCT
fueconorg-10857	273	7	.	.	PUNCT
fueconorg-10857	274	1	the	the	DET
fueconorg-10857	274	2	valuation	valuation	NOUN
fueconorg-10857	274	3	of	of	ADP
fueconorg-10857	274	4	risk	risk	NOUN
fueconorg-10857	274	5	assets	asset	NOUN
fueconorg-10857	274	6	and	and	CCONJ
fueconorg-10857	274	7	the	the	DET
fueconorg-10857	274	8	selection	selection	NOUN
fueconorg-10857	274	9	of	of	ADP
fueconorg-10857	274	10	risky	risky	ADJ
fueconorg-10857	274	11	investments	investment	NOUN
fueconorg-10857	274	12	in	in	ADP
fueconorg-10857	274	13	stock	stock	NOUN
fueconorg-10857	274	14	portfolios	portfolio	NOUN
fueconorg-10857	274	15	and	and	CCONJ
fueconorg-10857	274	16	capital	capital	NOUN
fueconorg-10857	274	17	budgets	budget	NOUN
fueconorg-10857	274	18	.	.	PUNCT
fueconorg-10857	275	1	review	review	NOUN
fueconorg-10857	275	2	of	of	ADP
fueconorg-10857	275	3	economics	economic	NOUN
fueconorg-10857	275	4	and	and	CCONJ
fueconorg-10857	275	5	statistics	statistic	NOUN
fueconorg-10857	275	6	,	,	PUNCT
fueconorg-10857	275	7	47(1	47(1	NUM
fueconorg-10857	275	8	)	)	PUNCT
fueconorg-10857	275	9	,	,	PUNCT
fueconorg-10857	275	10	13	13	NUM
fueconorg-10857	275	11	-	-	SYM
fueconorg-10857	275	12	37	37	NUM
fueconorg-10857	275	13	.	.	PUNCT
fueconorg-10857	276	1	https://doi.org/10.2307/1924119	https://doi.org/10.2307/1924119	PROPN
fueconorg-10857	276	2	markowitz	markowitz	PROPN
fueconorg-10857	276	3	,	,	PUNCT
fueconorg-10857	276	4	h.	h.	PROPN
fueconorg-10857	276	5	(	(	PUNCT
fueconorg-10857	276	6	1952	1952	NUM
fueconorg-10857	276	7	)	)	PUNCT
fueconorg-10857	276	8	.	.	PUNCT
fueconorg-10857	277	1	portfolio	portfolio	NOUN
fueconorg-10857	277	2	selection	selection	NOUN
fueconorg-10857	277	3	.	.	PUNCT
fueconorg-10857	278	1	the	the	DET
fueconorg-10857	278	2	journal	journal	PROPN
fueconorg-10857	278	3	of	of	ADP
fueconorg-10857	278	4	finance	finance	NOUN
fueconorg-10857	278	5	,	,	PUNCT
fueconorg-10857	278	6	7(1	7(1	NUM
fueconorg-10857	278	7	)	)	PUNCT
fueconorg-10857	278	8	,	,	PUNCT
fueconorg-10857	278	9	77	77	NUM
fueconorg-10857	278	10	-	-	SYM
fueconorg-10857	278	11	91	91	NUM
fueconorg-10857	278	12	.	.	PUNCT
fueconorg-10857	279	1	https://doi.org/10.2307/	https://doi.org/10.2307/	PROPN
fueconorg-10857	279	2	2975974	2975974	NUM
fueconorg-10857	279	3	mirović	mirović	NOUN
fueconorg-10857	279	4	v.	v.	PROPN
fueconorg-10857	279	5	,	,	PUNCT
fueconorg-10857	279	6	mijić	mijić	PROPN
fueconorg-10857	279	7	k.	k.	PROPN
fueconorg-10857	279	8	,	,	PUNCT
fueconorg-10857	279	9	andrašić	andrašić	PROPN
fueconorg-10857	279	10	j.	j.	PROPN
fueconorg-10857	279	11	,	,	PUNCT
fueconorg-10857	279	12	&	&	CCONJ
fueconorg-10857	279	13	kalaš	kalaš	PROPN
fueconorg-10857	279	14	b.	b.	PROPN
fueconorg-10857	279	15	(	(	PUNCT
fueconorg-10857	279	16	2019	2019	NUM
fueconorg-10857	279	17	)	)	PUNCT
fueconorg-10857	279	18	.	.	PUNCT
fueconorg-10857	280	1	performanse	performanse	PROPN
fueconorg-10857	280	2	poslovanja	poslovanja	PROPN
fueconorg-10857	280	3	preduzeća	preduzeća	ADV
fueconorg-10857	280	4	,	,	PUNCT
fueconorg-10857	280	5	finansijski	finansijski	PROPN
fueconorg-10857	280	6	i	i	PRON
fueconorg-10857	280	7	računovodstveni	računovodstveni	PROPN
fueconorg-10857	280	8	aspekti	aspekti	NOUN
fueconorg-10857	281	1	[	[	X
fueconorg-10857	281	2	business	business	NOUN
fueconorg-10857	281	3	performance	performance	NOUN
fueconorg-10857	281	4	of	of	ADP
fueconorg-10857	281	5	the	the	DET
fueconorg-10857	281	6	company	company	NOUN
fueconorg-10857	281	7	,	,	PUNCT
fueconorg-10857	281	8	financial	financial	ADJ
fueconorg-10857	281	9	and	and	CCONJ
fueconorg-10857	281	10	accounting	accounting	NOUN
fueconorg-10857	281	11	aspects	aspect	NOUN
fueconorg-10857	281	12	]	]	PUNCT
fueconorg-10857	281	13	.	.	PUNCT
fueconorg-10857	282	1	ekonomski	ekonomski	PROPN
fueconorg-10857	282	2	fakultet	fakultet	NOUN
fueconorg-10857	282	3	u	u	PROPN
fueconorg-10857	282	4	subotici	subotici	PROPN
fueconorg-10857	282	5	.	.	PUNCT
fueconorg-10857	283	1	mishra	mishra	PROPN
fueconorg-10857	283	2	,	,	PUNCT
fueconorg-10857	283	3	d.	d.	PROPN
fueconorg-10857	283	4	r.	r.	PROPN
fueconorg-10857	283	5	,	,	PUNCT
fueconorg-10857	283	6	&	&	CCONJ
fueconorg-10857	283	7	o’brien	o’brien	PROPN
fueconorg-10857	283	8	,	,	PUNCT
fueconorg-10857	283	9	t.	t.	PROPN
fueconorg-10857	283	10	j.	j.	PROPN
fueconorg-10857	283	11	(	(	PUNCT
fueconorg-10857	283	12	2019	2019	NUM
fueconorg-10857	283	13	)	)	PUNCT
fueconorg-10857	283	14	.	.	PUNCT
fueconorg-10857	284	1	fama	fama	NOUN
fueconorg-10857	284	2	-	-	PUNCT
fueconorg-10857	284	3	french	french	NOUN
fueconorg-10857	284	4	,	,	PUNCT
fueconorg-10857	284	5	capm	capm	PROPN
fueconorg-10857	284	6	,	,	PUNCT
fueconorg-10857	284	7	and	and	CCONJ
fueconorg-10857	284	8	implied	imply	VERB
fueconorg-10857	284	9	cost	cost	NOUN
fueconorg-10857	284	10	of	of	ADP
fueconorg-10857	284	11	equity	equity	NOUN
fueconorg-10857	284	12	.	.	PUNCT
fueconorg-10857	285	1	journal	journal	PROPN
fueconorg-10857	285	2	of	of	ADP
fueconorg-10857	285	3	economics	economic	NOUN
fueconorg-10857	285	4	and	and	CCONJ
fueconorg-10857	285	5	business	business	NOUN
fueconorg-10857	285	6	,	,	PUNCT
fueconorg-10857	285	7	101	101	NUM
fueconorg-10857	285	8	,	,	PUNCT
fueconorg-10857	285	9	73	73	NUM
fueconorg-10857	285	10	-	-	SYM
fueconorg-10857	285	11	85	85	NUM
fueconorg-10857	285	12	.	.	PUNCT
fueconorg-10857	286	1	https://doi.org/10.1016/j.jeconbus.2018.08.002	https://doi.org/10.1016/j.jeconbus.2018.08.002	NOUN
fueconorg-10857	286	2	mossin	mossin	NOUN
fueconorg-10857	286	3	,	,	PUNCT
fueconorg-10857	286	4	j.	j.	PROPN
fueconorg-10857	286	5	(	(	PUNCT
fueconorg-10857	286	6	1966	1966	NUM
fueconorg-10857	286	7	)	)	PUNCT
fueconorg-10857	286	8	.	.	PUNCT
fueconorg-10857	287	1	equilibrium	equilibrium	NOUN
fueconorg-10857	287	2	in	in	ADP
fueconorg-10857	287	3	a	a	DET
fueconorg-10857	287	4	capital	capital	NOUN
fueconorg-10857	287	5	asset	asset	NOUN
fueconorg-10857	287	6	market	market	NOUN
fueconorg-10857	287	7	.	.	PUNCT
fueconorg-10857	288	1	econometrica	econometrica	PROPN
fueconorg-10857	288	2	,	,	PUNCT
fueconorg-10857	288	3	34(4	34(4	NUM
fueconorg-10857	288	4	)	)	PUNCT
fueconorg-10857	288	5	,	,	PUNCT
fueconorg-10857	288	6	68	68	NUM
fueconorg-10857	288	7	-	-	SYM
fueconorg-10857	288	8	83	83	NUM
fueconorg-10857	288	9	.	.	PUNCT
fueconorg-10857	289	1	https://doi.org/10.2307/	https://doi.org/10.2307/	PROPN
fueconorg-10857	289	2	1910098	1910098	NUM
fueconorg-10857	289	3	odobašić	odobašić	ADV
fueconorg-10857	289	4	,	,	PUNCT
fueconorg-10857	289	5	s.	s.	PROPN
fueconorg-10857	289	6	,	,	PUNCT
fueconorg-10857	289	7	tolušić	tolušić	ADV
fueconorg-10857	289	8	,	,	PUNCT
fueconorg-10857	289	9	m.	m.	NOUN
fueconorg-10857	289	10	,	,	PUNCT
fueconorg-10857	289	11	&	&	CCONJ
fueconorg-10857	289	12	tolušić	tolušić	PROPN
fueconorg-10857	289	13	,	,	PUNCT
fueconorg-10857	289	14	z.	z.	PROPN
fueconorg-10857	289	15	(	(	PUNCT
fueconorg-10857	289	16	2014	2014	NUM
fueconorg-10857	289	17	)	)	PUNCT
fueconorg-10857	289	18	.	.	PUNCT
fueconorg-10857	290	1	the	the	DET
fueconorg-10857	290	2	application	application	NOUN
fueconorg-10857	290	3	of	of	ADP
fueconorg-10857	290	4	the	the	DET
fueconorg-10857	290	5	capm	capm	PROPN
fueconorg-10857	290	6	model	model	NOUN
fueconorg-10857	290	7	to	to	ADP
fueconorg-10857	290	8	selected	select	VERB
fueconorg-10857	290	9	shares	share	NOUN
fueconorg-10857	290	10	on	on	ADP
fueconorg-10857	290	11	the	the	DET
fueconorg-10857	290	12	croatian	croatian	ADJ
fueconorg-10857	290	13	capital	capital	NOUN
fueconorg-10857	290	14	market	market	NOUN
fueconorg-10857	290	15	.	.	PUNCT
fueconorg-10857	291	1	ekonomski	ekonomski	ADJ
fueconorg-10857	291	2	vjesnik	vjesnik	PROPN
fueconorg-10857	291	3	:	:	PUNCT
fueconorg-10857	291	4	review	review	NOUN
fueconorg-10857	291	5	of	of	ADP
fueconorg-10857	291	6	contemporary	contemporary	ADJ
fueconorg-10857	291	7	entrepreneurship	entrepreneurship	NOUN
fueconorg-10857	291	8	,	,	PUNCT
fueconorg-10857	291	9	business	business	NOUN
fueconorg-10857	291	10	,	,	PUNCT
fueconorg-10857	291	11	and	and	CCONJ
fueconorg-10857	291	12	economic	economic	ADJ
fueconorg-10857	291	13	issues	issue	NOUN
fueconorg-10857	291	14	,	,	PUNCT
fueconorg-10857	291	15	27(2	27(2	PRON
fueconorg-10857	291	16	)	)	PUNCT
fueconorg-10857	291	17	,	,	PUNCT
fueconorg-10857	291	18	297	297	NUM
fueconorg-10857	291	19	-	-	SYM
fueconorg-10857	291	20	311	311	NUM
fueconorg-10857	291	21	.	.	PUNCT
fueconorg-10857	292	1	uri	uri	NOUN
fueconorg-10857	292	2	:	:	PUNCT
fueconorg-10857	292	3	https://hrcak.srce.hr/132838	https://hrcak.srce.hr/132838	NOUN
fueconorg-10857	292	4	perold	perold	NOUN
fueconorg-10857	292	5	,	,	PUNCT
fueconorg-10857	292	6	a.	a.	PROPN
fueconorg-10857	292	7	f.	f.	PROPN
fueconorg-10857	292	8	(	(	PUNCT
fueconorg-10857	292	9	2004	2004	NUM
fueconorg-10857	292	10	)	)	PUNCT
fueconorg-10857	292	11	.	.	PUNCT
fueconorg-10857	293	1	the	the	DET
fueconorg-10857	293	2	capital	capital	NOUN
fueconorg-10857	293	3	asset	asset	NOUN
fueconorg-10857	293	4	pricing	pricing	NOUN
fueconorg-10857	293	5	model	model	NOUN
fueconorg-10857	293	6	.	.	PUNCT
fueconorg-10857	294	1	journal	journal	PROPN
fueconorg-10857	294	2	of	of	ADP
fueconorg-10857	294	3	economic	economic	ADJ
fueconorg-10857	294	4	perspectives	perspective	NOUN
fueconorg-10857	294	5	,	,	PUNCT
fueconorg-10857	294	6	18(3	18(3	NUM
fueconorg-10857	294	7	)	)	PUNCT
fueconorg-10857	294	8	,	,	PUNCT
fueconorg-10857	294	9	3	3	NUM
fueconorg-10857	294	10	-	-	SYM
fueconorg-10857	294	11	24	24	NUM
fueconorg-10857	294	12	.	.	PUNCT
fueconorg-10857	295	1	https://doi.org/10.2307/3216804	https://doi.org/10.2307/3216804	NOUN
fueconorg-10857	295	2	rossi	rossi	ADJ
fueconorg-10857	295	3	,	,	PUNCT
fueconorg-10857	295	4	m.	m.	NOUN
fueconorg-10857	295	5	(	(	PUNCT
fueconorg-10857	295	6	2016	2016	NUM
fueconorg-10857	295	7	)	)	PUNCT
fueconorg-10857	295	8	.	.	PUNCT
fueconorg-10857	296	1	the	the	DET
fueconorg-10857	296	2	capital	capital	NOUN
fueconorg-10857	296	3	asset	asset	NOUN
fueconorg-10857	296	4	pricing	pricing	NOUN
fueconorg-10857	296	5	model	model	NOUN
fueconorg-10857	296	6	:	:	PUNCT
fueconorg-10857	296	7	a	a	DET
fueconorg-10857	296	8	critical	critical	ADJ
fueconorg-10857	296	9	literature	literature	NOUN
fueconorg-10857	296	10	review	review	NOUN
fueconorg-10857	296	11	.	.	PUNCT
fueconorg-10857	297	1	global	global	ADJ
fueconorg-10857	297	2	business	business	PROPN
fueconorg-10857	297	3	and	and	CCONJ
fueconorg-10857	297	4	economics	economic	NOUN
fueconorg-10857	297	5	review	review	NOUN
fueconorg-10857	297	6	,	,	PUNCT
fueconorg-10857	297	7	18(5	18(5	NUM
fueconorg-10857	297	8	)	)	PUNCT
fueconorg-10857	297	9	,	,	PUNCT
fueconorg-10857	297	10	604	604	NUM
fueconorg-10857	297	11	-	-	SYM
fueconorg-10857	297	12	617	617	NUM
fueconorg-10857	297	13	.	.	PUNCT
fueconorg-10857	298	1	https://doi.org/10.1504/gber.2016.078682	https://doi.org/10.1504/gber.2016.078682	PROPN
fueconorg-10857	298	2	ross	ross	PROPN
fueconorg-10857	298	3	,	,	PUNCT
fueconorg-10857	298	4	s.	s.	PROPN
fueconorg-10857	298	5	a.	a.	PROPN
fueconorg-10857	298	6	,	,	PUNCT
fueconorg-10857	298	7	westerfield	westerfield	PROPN
fueconorg-10857	298	8	,	,	PUNCT
fueconorg-10857	298	9	r.	r.	PROPN
fueconorg-10857	298	10	w.	w.	PROPN
fueconorg-10857	298	11	,	,	PUNCT
fueconorg-10857	298	12	&	&	CCONJ
fueconorg-10857	298	13	jaffe	jaffe	PROPN
fueconorg-10857	298	14	,	,	PUNCT
fueconorg-10857	298	15	j.	j.	PROPN
fueconorg-10857	298	16	f.	f.	PROPN
fueconorg-10857	298	17	(	(	PUNCT
fueconorg-10857	298	18	1996	1996	NUM
fueconorg-10857	298	19	)	)	PUNCT
fueconorg-10857	298	20	.	.	PUNCT
fueconorg-10857	299	1	corporate	corporate	ADJ
fueconorg-10857	299	2	finance	finance	NOUN
fueconorg-10857	299	3	.	.	PUNCT
fueconorg-10857	300	1	irwin	irwin	PROPN
fueconorg-10857	300	2	.	.	PUNCT
fueconorg-10857	301	1	homewood	homewood	PROPN
fueconorg-10857	301	2	.	.	PUNCT
fueconorg-10857	302	1	stanković	stanković	PROPN
fueconorg-10857	302	2	,	,	PUNCT
fueconorg-10857	302	3	j.	j.	PROPN
fueconorg-10857	302	4	z.	z.	PROPN
fueconorg-10857	302	5	,	,	PUNCT
fueconorg-10857	302	6	petrović	petrović	PROPN
fueconorg-10857	302	7	,	,	PUNCT
fueconorg-10857	302	8	e.	e.	PROPN
fueconorg-10857	302	9	,	,	PUNCT
fueconorg-10857	302	10	&	&	CCONJ
fueconorg-10857	302	11	denčić	denčić	PROPN
fueconorg-10857	302	12	-	-	PUNCT
fueconorg-10857	302	13	mihajlov	mihajlov	PROPN
fueconorg-10857	302	14	,	,	PUNCT
fueconorg-10857	302	15	k.	k.	PROPN
fueconorg-10857	302	16	(	(	PUNCT
fueconorg-10857	302	17	2020	2020	NUM
fueconorg-10857	302	18	)	)	PUNCT
fueconorg-10857	302	19	.	.	PUNCT
fueconorg-10857	303	1	effects	effect	NOUN
fueconorg-10857	303	2	of	of	ADP
fueconorg-10857	303	3	applying	apply	VERB
fueconorg-10857	303	4	different	different	ADJ
fueconorg-10857	303	5	risk	risk	NOUN
fueconorg-10857	303	6	measures	measure	NOUN
fueconorg-10857	303	7	on	on	ADP
fueconorg-10857	303	8	the	the	DET
fueconorg-10857	303	9	optimal	optimal	ADJ
fueconorg-10857	303	10	portfolio	portfolio	NOUN
fueconorg-10857	303	11	selection	selection	NOUN
fueconorg-10857	303	12	:	:	PUNCT
fueconorg-10857	303	13	the	the	DET
fueconorg-10857	303	14	case	case	NOUN
fueconorg-10857	303	15	of	of	ADP
fueconorg-10857	303	16	the	the	DET
fueconorg-10857	303	17	belgrade	belgrade	PROPN
fueconorg-10857	303	18	stock	stock	PROPN
fueconorg-10857	303	19	exchange	exchange	PROPN
fueconorg-10857	303	20	.	.	PUNCT
fueconorg-10857	304	1	facta	facta	PROPN
fueconorg-10857	304	2	universitatis	universitatis	PROPN
fueconorg-10857	304	3	,	,	PUNCT
fueconorg-10857	304	4	series	series	NOUN
fueconorg-10857	304	5	:	:	PUNCT
fueconorg-10857	304	6	economics	economic	NOUN
fueconorg-10857	304	7	and	and	CCONJ
fueconorg-10857	304	8	organization	organization	NOUN
fueconorg-10857	304	9	,	,	PUNCT
fueconorg-10857	304	10	17(1	17(1	NUM
fueconorg-10857	304	11	)	)	PUNCT
fueconorg-10857	304	12	,	,	PUNCT
fueconorg-10857	304	13	017	017	NUM
fueconorg-10857	304	14	-	-	SYM
fueconorg-10857	304	15	026	026	NUM
fueconorg-10857	304	16	.	.	PUNCT
fueconorg-10857	305	1	https://doi.org/10.22190/fueo191016002s	https://doi.org/10.22190/fueo191016002	NOUN
fueconorg-10857	305	2	schoenmaker	schoenmaker	PROPN
fueconorg-10857	305	3	,	,	PUNCT
fueconorg-10857	305	4	d.	d.	PROPN
fueconorg-10857	305	5	,	,	PUNCT
fueconorg-10857	305	6	&	&	CCONJ
fueconorg-10857	305	7	schramade	schramade	PROPN
fueconorg-10857	305	8	,	,	PUNCT
fueconorg-10857	305	9	w.	w.	PROPN
fueconorg-10857	305	10	(	(	PUNCT
fueconorg-10857	305	11	2020	2020	NUM
fueconorg-10857	305	12	)	)	PUNCT
fueconorg-10857	305	13	.	.	PUNCT
fueconorg-10857	306	1	asset	asset	NOUN
fueconorg-10857	306	2	pricing	pricing	NOUN
fueconorg-10857	306	3	and	and	CCONJ
fueconorg-10857	306	4	sustainability	sustainability	NOUN
fueconorg-10857	306	5	:	:	PUNCT
fueconorg-10857	306	6	a	a	DET
fueconorg-10857	306	7	teaching	teaching	NOUN
fueconorg-10857	306	8	note	note	NOUN
fueconorg-10857	306	9	.	.	PUNCT
fueconorg-10857	307	1	ssrn	ssrn	PROPN
fueconorg-10857	307	2	electronic	electronic	ADJ
fueconorg-10857	307	3	journal	journal	NOUN
fueconorg-10857	307	4	.	.	PUNCT
fueconorg-10857	308	1	https://doi.org/10.2139/ssrn.3539080	https://doi.org/10.2139/ssrn.3539080	VERB
fueconorg-10857	308	2	suroso	suroso	PROPN
fueconorg-10857	308	3	,	,	PUNCT
fueconorg-10857	308	4	s.	s.	PROPN
fueconorg-10857	308	5	,	,	PUNCT
fueconorg-10857	308	6	rusiadi	rusiadi	NOUN
fueconorg-10857	308	7	,	,	PUNCT
fueconorg-10857	308	8	r.	r.	PROPN
fueconorg-10857	308	9	b.	b.	PROPN
fueconorg-10857	308	10	,	,	PUNCT
fueconorg-10857	308	11	purba	purba	PROPN
fueconorg-10857	308	12	,	,	PUNCT
fueconorg-10857	308	13	a.	a.	NOUN
fueconorg-10857	308	14	p.	p.	PROPN
fueconorg-10857	308	15	u.	u.	PROPN
fueconorg-10857	308	16	,	,	PUNCT
fueconorg-10857	308	17	siahaan	siahaan	PROPN
fueconorg-10857	308	18	,	,	PUNCT
fueconorg-10857	308	19	a.	a.	PROPN
fueconorg-10857	308	20	k.	k.	PROPN
fueconorg-10857	308	21	,	,	PUNCT
fueconorg-10857	308	22	sari	sari	PROPN
fueconorg-10857	308	23	,	,	PUNCT
fueconorg-10857	308	24	a.	a.	NOUN
fueconorg-10857	308	25	n.	n.	PROPN
fueconorg-10857	308	26	,	,	PUNCT
fueconorg-10857	308	27	&	&	CCONJ
fueconorg-10857	308	28	lubis	lubis	PROPN
fueconorg-10857	308	29	,	,	PUNCT
fueconorg-10857	308	30	a.	a.	PROPN
fueconorg-10857	308	31	i.	i.	PROPN
fueconorg-10857	308	32	f.	f.	PROPN
fueconorg-10857	308	33	(	(	PUNCT
fueconorg-10857	308	34	2018	2018	NUM
fueconorg-10857	308	35	)	)	PUNCT
fueconorg-10857	308	36	.	.	PUNCT
fueconorg-10857	309	1	autoregression	autoregression	NOUN
fueconorg-10857	309	2	vector	vector	NOUN
fueconorg-10857	309	3	prediction	prediction	NOUN
fueconorg-10857	309	4	on	on	ADP
fueconorg-10857	309	5	banking	banking	NOUN
fueconorg-10857	309	6	stock	stock	NOUN
fueconorg-10857	309	7	return	return	NOUN
fueconorg-10857	309	8	using	use	VERB
fueconorg-10857	309	9	capm	capm	PROPN
fueconorg-10857	309	10	model	model	NOUN
fueconorg-10857	309	11	approach	approach	NOUN
fueconorg-10857	309	12	and	and	CCONJ
fueconorg-10857	309	13	multi	multi	ADJ
fueconorg-10857	309	14	-	-	ADJ
fueconorg-10857	309	15	factor	factor	NOUN
fueconorg-10857	309	16	apt	apt	ADJ
fueconorg-10857	309	17	.	.	PROPN
fueconorg-10857	309	18	international	international	ADJ
fueconorg-10857	309	19	journal	journal	NOUN
fueconorg-10857	309	20	of	of	ADP
fueconorg-10857	309	21	civil	civil	ADJ
fueconorg-10857	309	22	engineering	engineering	NOUN
fueconorg-10857	309	23	and	and	CCONJ
fueconorg-10857	309	24	technology	technology	NOUN
fueconorg-10857	309	25	,	,	PUNCT
fueconorg-10857	309	26	9(9	9(9	NUM
fueconorg-10857	309	27	)	)	PUNCT
fueconorg-10857	309	28	,	,	PUNCT
fueconorg-10857	309	29	1093	1093	NUM
fueconorg-10857	309	30	-	-	SYM
fueconorg-10857	309	31	1103	1103	NUM
fueconorg-10857	309	32	.	.	PUNCT
fueconorg-10857	310	1	available	available	ADJ
fueconorg-10857	310	2	online	online	ADV
fueconorg-10857	310	3	at	at	ADP
fueconorg-10857	310	4	http://www.iaeme.com/ijciet/issues.asp?jtype=ijciet&vtype=9&itype=9	http://www.iaeme.com/ijciet/issues.asp?jtype=ijciet&vtype=9&itype=9	PROPN
fueconorg-10857	310	5	sharpe	sharpe	PROPN
fueconorg-10857	310	6	,	,	PUNCT
fueconorg-10857	310	7	w.	w.	PROPN
fueconorg-10857	310	8	f.	f.	PROPN
fueconorg-10857	310	9	(	(	PUNCT
fueconorg-10857	310	10	1964	1964	NUM
fueconorg-10857	310	11	)	)	PUNCT
fueconorg-10857	310	12	.	.	PUNCT
fueconorg-10857	311	1	capital	capital	NOUN
fueconorg-10857	311	2	asset	asset	NOUN
fueconorg-10857	311	3	prices	price	NOUN
fueconorg-10857	311	4	:	:	PUNCT
fueconorg-10857	311	5	a	a	DET
fueconorg-10857	311	6	theory	theory	NOUN
fueconorg-10857	311	7	of	of	ADP
fueconorg-10857	311	8	market	market	NOUN
fueconorg-10857	311	9	equilibrium	equilibrium	NOUN
fueconorg-10857	311	10	under	under	ADP
fueconorg-10857	311	11	conditions	condition	NOUN
fueconorg-10857	311	12	of	of	ADP
fueconorg-10857	311	13	risk	risk	NOUN
fueconorg-10857	311	14	.	.	PUNCT
fueconorg-10857	312	1	journal	journal	NOUN
fueconorg-10857	312	2	of	of	ADP
fueconorg-10857	312	3	finance	finance	NOUN
fueconorg-10857	312	4	.	.	PUNCT
fueconorg-10857	313	1	19(39	19(39	NUM
fueconorg-10857	313	2	)	)	PUNCT
fueconorg-10857	313	3	,	,	PUNCT
fueconorg-10857	313	4	425	425	NUM
fueconorg-10857	313	5	-	-	SYM
fueconorg-10857	313	6	442	442	NUM
fueconorg-10857	313	7	.	.	PUNCT
fueconorg-10857	314	1	https://doi.org/10.2307/2977928	https://doi.org/10.2307/2977928	X
fueconorg-10857	315	1	šoškić	šoškić	NOUN
fueconorg-10857	315	2	,	,	PUNCT
fueconorg-10857	315	3	d.	d.	PROPN
fueconorg-10857	315	4	(	(	PUNCT
fueconorg-10857	315	5	2010	2010	NUM
fueconorg-10857	315	6	)	)	PUNCT
fueconorg-10857	315	7	.	.	PUNCT
fueconorg-10857	316	1	hartije	hartije	PROPN
fueconorg-10857	316	2	od	od	NUM
fueconorg-10857	316	3	vrednosti	vrednosti	PROPN
fueconorg-10857	316	4	:	:	PUNCT
fueconorg-10857	317	1	upravljanje	upravljanje	ADJ
fueconorg-10857	317	2	portfoliom	portfoliom	NOUN
fueconorg-10857	317	3	i	i	PRON
fueconorg-10857	317	4	investicioni	investicioni	VERB
fueconorg-10857	317	5	fondovi	fondovi	NOUN
fueconorg-10857	318	1	[	[	X
fueconorg-10857	318	2	securities	security	NOUN
fueconorg-10857	318	3	:	:	PUNCT
fueconorg-10857	318	4	portfolio	portfolio	NOUN
fueconorg-10857	318	5	management	management	NOUN
fueconorg-10857	318	6	and	and	CCONJ
fueconorg-10857	318	7	investment	investment	NOUN
fueconorg-10857	318	8	funds	fund	NOUN
fueconorg-10857	318	9	]	]	PUNCT
fueconorg-10857	318	10	.	.	PUNCT
fueconorg-10857	319	1	ekonomski	ekonomski	PROPN
fueconorg-10857	319	2	fakultet	fakultet	PROPN
fueconorg-10857	319	3	univerziteta	univerziteta	PROPN
fueconorg-10857	319	4	u	u	PROPN
fueconorg-10857	319	5	beogradu	beogradu	PROPN
fueconorg-10857	319	6	.	.	PUNCT
fueconorg-10857	320	1	vunjak	vunjak	PROPN
fueconorg-10857	320	2	,	,	PUNCT
fueconorg-10857	320	3	n.	n.	PROPN
fueconorg-10857	320	4	(	(	PUNCT
fueconorg-10857	320	5	2008	2008	NUM
fueconorg-10857	320	6	)	)	PUNCT
fueconorg-10857	320	7	.	.	PUNCT
fueconorg-10857	321	1	finansijski	finansijski	PROPN
fueconorg-10857	321	2	menadžment	menadžment	NOUN
fueconorg-10857	321	3	,	,	PUNCT
fueconorg-10857	321	4	poslovne	poslovne	ADJ
fueconorg-10857	321	5	finansije	finansije	NOUN
fueconorg-10857	321	6	[	[	X
fueconorg-10857	321	7	financial	financial	ADJ
fueconorg-10857	321	8	management	management	NOUN
fueconorg-10857	321	9	,	,	PUNCT
fueconorg-10857	321	10	business	business	NOUN
fueconorg-10857	321	11	finance	finance	NOUN
fueconorg-10857	321	12	]	]	PUNCT
fueconorg-10857	321	13	.	.	PUNCT
fueconorg-10857	322	1	proleter	proleter	NOUN
fueconorg-10857	322	2	,	,	PUNCT
fueconorg-10857	322	3	ekonomski	ekonomski	NOUN
fueconorg-10857	322	4	fakultet	fakultet	NOUN
fueconorg-10857	322	5	u	u	PROPN
fueconorg-10857	322	6	subotici	subotici	PROPN
fueconorg-10857	322	7	.	.	PUNCT
fueconorg-10857	323	1	belgrade	belgrade	PROPN
fueconorg-10857	323	2	stock	stock	PROPN
fueconorg-10857	323	3	exchange	exchange	PROPN
fueconorg-10857	323	4	,	,	PUNCT
fueconorg-10857	323	5	retrieved	retrieve	VERB
fueconorg-10857	323	6	from	from	ADP
fueconorg-10857	323	7	:	:	PUNCT
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fueconorg-10857	323	13	3	3	NUM
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fueconorg-10857	323	15	2022	2022	NUM
fueconorg-10857	323	16	.	.	PUNCT
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fueconorg-10857	324	2	point	point	NOUN
fueconorg-10857	324	3	,	,	PUNCT
fueconorg-10857	324	4	retrieved	retrieve	VERB
fueconorg-10857	324	5	from	from	ADP
fueconorg-10857	324	6	:	:	PUNCT
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fueconorg-10857	324	8	,	,	PUNCT
fueconorg-10857	324	9	accessed	access	VERB
fueconorg-10857	324	10	on	on	ADP
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fueconorg-10857	324	12	02	02	NUM
fueconorg-10857	324	13	june	june	PROPN
fueconorg-10857	324	14	2022	2022	NUM
fueconorg-10857	324	15	.	.	PUNCT
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fueconorg-10857	326	7	https://doi.org/10.2307/%0b2975974	https://doi.org/10.2307/%0b2975974	X
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fueconorg-10857	326	12	https://hrcak.srce.hr/132838	https://hrcak.srce.hr/132838	NOUN
fueconorg-10857	326	13	https://doi.org/10.2307/3216804	https://doi.org/10.2307/3216804	NOUN
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fueconorg-10857	326	17	http://www.iaeme.com/ijciet/issues.asp?jtype=ijciet&vtype=9&itype=9	http://www.iaeme.com/ijciet/issues.asp?jtype=ijciet&vtype=9&itype=9	ADP
fueconorg-10857	326	18	https://doi.org/10.2307/2977928	https://doi.org/10.2307/2977928	X
fueconorg-10857	327	1	https://www.belex.rs/trgovanje/indeksi/belexline/korpa	https://www.belex.rs/trgovanje/indeksi/belexline/korpa	ADV
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fueconorg-10857	327	3	testing	testing	NOUN
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fueconorg-10857	327	5	applicability	applicability	NOUN
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fueconorg-10857	327	8	capm	capm	PROPN
fueconorg-10857	327	9	model	model	NOUN
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fueconorg-10857	327	16	belgrade	belgrade	PROPN
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fueconorg-10857	327	21	primenljivost	primenljivost	PROPN
fueconorg-10857	327	22	capm	capm	PROPN
fueconorg-10857	327	23	modela	modela	PROPN
fueconorg-10857	327	24	korišćenjem	korišćenjem	PROPN
fueconorg-10857	327	25	odabranih	odabranih	PROPN
fueconorg-10857	327	26	akcija	akcija	X
fueconorg-10857	327	27	koje	koje	PROPN
fueconorg-10857	327	28	se	se	X
fueconorg-10857	327	29	kotiraju	kotiraju	PROPN
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fueconorg-10857	328	2	beogradskoj	beogradskoj	VERB
fueconorg-10857	328	3	berzi	berzi	PROPN
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fueconorg-10857	328	5	od	od	PROPN
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fueconorg-10857	328	7	vidova	vidova	PROPN
fueconorg-10857	328	8	procene	procene	PROPN
fueconorg-10857	328	9	portfolija	portfolija	PROPN
fueconorg-10857	328	10	kao	kao	PROPN
fueconorg-10857	329	1	i	i	PRON
fueconorg-10857	329	2	vrednovanja	vrednovanja	VERB
fueconorg-10857	329	3	pojedinačnih	pojedinačnih	PROPN
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fueconorg-10857	329	5	preduzeća	preduzeća	PROPN
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fueconorg-10857	329	7	capm	capm	PROPN
fueconorg-10857	329	8	(	(	PUNCT
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fueconorg-10857	329	12	)	)	PUNCT
fueconorg-10857	329	13	model	model	NOUN
fueconorg-10857	329	14	,	,	PUNCT
fueconorg-10857	329	15	koji	koji	PROPN
fueconorg-10857	329	16	u	u	PROPN
fueconorg-10857	329	17	svojoj	svojoj	PROPN
fueconorg-10857	329	18	analizi	analizi	PROPN
fueconorg-10857	329	19	koristi	koristi	PROPN
fueconorg-10857	329	20	dobro	dobro	PROPN
fueconorg-10857	329	21	poznatu	poznatu	PROPN
fueconorg-10857	329	22	meru	meru	PROPN
fueconorg-10857	329	23	sistemskog	sistemskog	PROPN
fueconorg-10857	329	24	rizika	rizika	PROPN
fueconorg-10857	329	25	,	,	PUNCT
fueconorg-10857	329	26	a	a	PRON
fueconorg-10857	329	27	to	to	ADP
fueconorg-10857	329	28	je	je	X
fueconorg-10857	329	29	beta	beta	PROPN
fueconorg-10857	329	30	.	.	PUNCT
fueconorg-10857	330	1	capm	capm	PROPN
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fueconorg-10857	330	3	u	u	PROPN
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fueconorg-10857	330	5	analizi	analizi	PROPN
fueconorg-10857	330	6	koristi	koristi	NOUN
fueconorg-10857	330	7	vezu	vezu	NOUN
fueconorg-10857	330	8	između	između	VERB
fueconorg-10857	330	9	mere	mere	ADJ
fueconorg-10857	330	10	sistemskog	sistemskog	ADJ
fueconorg-10857	330	11	rizika	rizika	X
fueconorg-10857	330	12	(	(	PUNCT
fueconorg-10857	330	13	beta	beta	NOUN
fueconorg-10857	330	14	)	)	PUNCT
fueconorg-10857	331	1	i	i	PRON
fueconorg-10857	331	2	očekivanog	očekivanog	VERB
fueconorg-10857	331	3	tržišnog	tržišnog	PROPN
fueconorg-10857	331	4	prinosa	prinosa	PROPN
fueconorg-10857	331	5	.	.	PUNCT
fueconorg-10857	332	1	rukovodeći	rukovodeći	PROPN
fueconorg-10857	332	2	se	se	PROPN
fueconorg-10857	332	3	ovim	ovim	PROPN
fueconorg-10857	332	4	modelom	modelom	PROPN
fueconorg-10857	332	5	,	,	PUNCT
fueconorg-10857	332	6	u	u	PROPN
fueconorg-10857	332	7	ovom	ovom	PROPN
fueconorg-10857	332	8	istraživanju	istraživanju	PROPN
fueconorg-10857	332	9	izvršena	izvršena	PROPN
fueconorg-10857	332	10	je	je	PROPN
fueconorg-10857	332	11	analiza	analiza	PROPN
fueconorg-10857	332	12	mesečnih	mesečnih	PROPN
fueconorg-10857	332	13	prinosa	prinosa	PROPN
fueconorg-10857	332	14	odabranih	odabranih	PROPN
fueconorg-10857	332	15	akcija	akcija	VERB
fueconorg-10857	332	16	na	na	ADP
fueconorg-10857	332	17	beogradskoj	beogradskoj	ADJ
fueconorg-10857	332	18	berzi	berzi	NOUN
fueconorg-10857	332	19	u	u	PROPN
fueconorg-10857	332	20	periodu	periodu	NOUN
fueconorg-10857	332	21	od	od	PROPN
fueconorg-10857	332	22	2011	2011	NUM
fueconorg-10857	332	23	.	.	PUNCT
fueconorg-10857	333	1	do	do	VERB
fueconorg-10857	333	2	2021	2021	NUM
fueconorg-10857	333	3	.	.	PUNCT
fueconorg-10857	334	1	godine	godine	NOUN
fueconorg-10857	334	2	.	.	PUNCT
fueconorg-10857	335	1	u	u	PROPN
fueconorg-10857	335	2	istraživanju	istraživanju	PROPN
fueconorg-10857	335	3	je	je	PROPN
fueconorg-10857	335	4	beta	beta	PROPN
fueconorg-10857	335	5	koeficijent	koeficijent	PROPN
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fueconorg-10857	335	7	akcija	akcija	PROPN
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fueconorg-10857	335	9	uz	uz	PROPN
fueconorg-10857	335	10	pomoć	pomoć	PROPN
fueconorg-10857	335	11	kovarijanse	kovarijanse	PROPN
fueconorg-10857	335	12	tržišnog	tržišnog	PROPN
fueconorg-10857	335	13	prinosa	prinosa	PROPN
fueconorg-10857	335	14	i	i	PRON
fueconorg-10857	335	15	prinosa	prinosa	PROPN
fueconorg-10857	335	16	akcija	akcija	VERB
fueconorg-10857	335	17	.	.	PUNCT
fueconorg-10857	336	1	rezultati	rezultati	NOUN
fueconorg-10857	337	1	i	i	PRON
fueconorg-10857	337	2	njihova	njihova	VERB
fueconorg-10857	337	3	statistička	statistička	PROPN
fueconorg-10857	337	4	vrednost	vrednost	ADP
fueconorg-10857	337	5	potvrđeni	potvrđeni	PROPN
fueconorg-10857	337	6	su	su	PROPN
fueconorg-10857	337	7	testom	testom	PROPN
fueconorg-10857	337	8	linearne	linearne	ADJ
fueconorg-10857	337	9	regresije	regresije	PROPN
fueconorg-10857	337	10	.	.	PUNCT
fueconorg-10857	338	1	ostatak	ostatak	PROPN
fueconorg-10857	338	2	istraživanja	istraživanja	PROPN
fueconorg-10857	338	3	testira	testira	PROPN
fueconorg-10857	338	4	primennjivost	primennjivost	VERB
fueconorg-10857	338	5	capm	capm	PROPN
fueconorg-10857	338	6	modela	modela	PROPN
fueconorg-10857	338	7	na	na	PROPN
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fueconorg-10857	339	2	radnje	radnje	VERB
fueconorg-10857	339	3	i	i	PRON
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fueconorg-10857	339	9	sml	sml	PROPN
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fueconorg-10857	339	14	)	)	PUNCT
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fueconorg-10857	339	18	grafički	grafički	PROPN
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fueconorg-10857	339	20	modela	modela	PROPN
fueconorg-10857	339	21	.	.	PUNCT
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fueconorg-10857	340	4	da	da	PROPN
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fueconorg-10857	340	6	pretpostavke	pretpostavke	PROPN
fueconorg-10857	340	7	capm	capm	PROPN
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fueconorg-10857	340	13	budućih	budućih	PROPN
fueconorg-10857	340	14	očekivanih	očekivanih	PROPN
fueconorg-10857	340	15	prinosa	prinosa	PROPN
fueconorg-10857	340	16	odabranih	odabranih	PROPN
fueconorg-10857	340	17	akcija	akcija	VERB
fueconorg-10857	340	18	na	na	ADP
fueconorg-10857	340	19	beogradskoj	beogradskoj	ADJ
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fueconorg-10857	340	21	zbog	zbog	PROPN
fueconorg-10857	340	22	raznih	raznih	PROPN
fueconorg-10857	340	23	drugih	drugih	PROPN
fueconorg-10857	340	24	elemenata	elemenata	PROPN
fueconorg-10857	340	25	koji	koji	PROPN
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fueconorg-10857	340	28	kretanje	kretanje	PROPN
fueconorg-10857	340	29	cena	cena	PROPN
fueconorg-10857	341	1	i	i	PRON
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fueconorg-10857	341	5	koje	koje	PROPN
fueconorg-10857	341	6	nisu	nisu	PROPN
fueconorg-10857	341	7	obuhvaćene	obuhvaćene	PROPN
fueconorg-10857	341	8	modelom	modelom	X
fueconorg-10857	341	9	.	.	PUNCT
fueconorg-10857	342	1	ključne	ključne	PROPN
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fueconorg-10857	342	3	:	:	PUNCT
fueconorg-10857	342	4	capm	capm	PROPN
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fueconorg-10857	342	6	,	,	PUNCT
fueconorg-10857	342	7	beta	beta	PROPN
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fueconorg-10857	342	9	,	,	PUNCT
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fueconorg-10857	342	12	,	,	PUNCT
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