The study looked at how beta, a measure of stock market risk, can predict the returns of companies listed in the Colombo Stock Exchange. Researchers analyzed data from 90 companies over five years and found that beta is a significant factor in predicting stock returns. They also found that the company's size has a weak positive relationship with returns, while the earning-to-price ratio has a weak negative relationship. This suggests that beta can help investors make informed decisions about investing in the stock market.