This study aims to evaluate whether energy savings from energy efficiency programs in Brazil affected the risks taken by energy companies during the period 2000-2013, based on the following research question: can we assume that energy conservation programs affect return risks to electrical...

This study analyzes the risk related effect of content intensity in regulatory legislation on the shares of the companies operating in the Brazilian electricity energy market. For this analysis, the regulatory legislation, enshrined in the Federal Constitution of 1988 until 2013 and addressed to...