This monograph investigates the influence of ownership structures on stock returns, risk perception, and the premium required by investors in the Brazilian capital market. Metrics grounded in government regimes are developed to estimate the impacts of these configurations through the lens of classical philosophy. These metrics seek to capture the essence of power distribution and its potential influence on capital allocation and corporate transparency. The results suggest that, although a pattern of monotonic growth in required return is observed for firms with a predominance of relevant individual shareholders, the analysis reveals that such a premium lacks robust statistical significance. Consequently, we conclude that even if there is a minor economic penalty associated with personalist control, it is not priced by the market as a systematic risk factor in the analyzed period.