摘要：This work tested if brasilian technology companies has a greater systematic risk than traditional companies in Brazil. For to achieve tje purpose, two companies samples , one of technology companies and the other of traditional companies, were composed. The tecnique employed was a multiple regression analysis considering a dichotomous variable wich represents the technological factor and another numerical variable wich represents the intangibility degree of companies. As a dependent variable was considered the CAPM systematic risk. The results indicated that technology companies have a greater systematic risk than traditional companies regardless of the degree of intangibility.
