Economic regulation and investment decision: evidence in Brazil

The research sought to analyze differences in investment level facing firms economically regulated by regulatory bodies with not at all regulated firms. Public companies listed on B3 constituted the population object of the research, appreciating events pertinent to the period 2011 to 2015. We handled multiple linear regression, with GMM-SYS estimation in conjunction with descriptive statistics. Although the findings indicated heterogeneity in firms' behavior according the firm come across the group of regulated or unregulated companies, these outcomes do not match with the research arguments of superior level of investment in regulated firms, conducting to reject the proposed hypothesis.