;"β > 0 and is significant";"α is significant";"Risk premium is constant"
Russia;+;+;+
"South Korea";+;–;+
Kuwait;+;+;+
Turkey;+;–;+
Argentina;+;+;–
Indonesia;+;–;–
Thailand;+;–;–
Hungary;–––;;
"Saudi Arabia";–;–;–
India;–;–;–
"Czech Republic";–;–;–
Romania;–;–;–
Estonia;–––;;
"Hong Kong";–––;;
Singapore;–;–;–
Australia;–;–;–
"United Kingdom";–;–;–
Canada;–;–;–
Denmark;–;–;–
Japan;–;–;–
"New Zealand";–;–;–
Norway;–;–;–
Sweden;–;–;–
Switzerland;–;–;–
Eurozone;–;–;–