Research interests
Corporate Finance, Cryptofinance
Working Papers & Work in Progress
"Distracted by Crypto?", with Matheus Carrijo and Fernando Chague. [1st Place – Brazilian Econometric Society (SBE) 2024 Award for Best Paper in Finance].
"US-China trade war spillovers: causal evidence from the Brazilian soybean export premium", with Larissa Martins and Vanclei Zanin. [Presented at the 2024 Brazilian Finance Meeting (SBFin), 2023 annual meeting of the Brazilian Association of Graduate Programs in Economics (ANPEC) & 1st Elsevier Finance Conference, 2023]. Slides here.
Publications
"The role of taxes and the interdependence among corporate financial policies: Evidence from a natural experiment.", with João Caldeira, Journal of Corporate Finance v. 50, June 2018.
"Are crypto and non-crypto investors alike? Evidence from a comprehensive survey", with Larissa Yarovaya. Technology in Society, 2024, vol. 76. Slides: here. [Presented at the Brazilian Finance Meeting 2022, Cryptocurrency Research Conference 2022, University Blockchain Research Initiative 2022, National Meeting of the Brazilian Academy Management annual meeting 2023.] [Media: Valor Econômico, Portal do Bitcoin, Infomoney].
"Is bitcoin an inflation hedge?", with Harold Rodriguez. Journal of Economics and Business, 2025, vol. 133. 1st place at the annual award for best dissertation in finance, CFA Society Brazil, and 1st place for best young scholar paper at the Brazilian Data Science Meeting (EBDS). Presented at the 2024 Global Finance Conference, 2024 Brazilian Finance Meeting (SBFin), 1st Elsevier Finance Conference (2023) & the 4th FGV's Datathon on Digital Currencies]. Slides here.
"Do foreign portfolio capital flows affect domestic investment? Evidence from Brazil.", with João Caldeira and Tiago Loncan, International Journal of Finance & Economics v. 24 (2), 2019.
"Heterogeneous effects of foreign exchange appreciation on industrial output: Evidence from disaggregated manufacturing data.", with Rodrigo Bampi. The Quarterly Review of Economics and Finance, 80, 2021.
"Store of Value or Speculative Investment? Market Reaction to Corporate Announcements of Cryptocurrency Acquisition", with André Gimenes and Imran Yousaf. Financial Innovation, 2023, vol. 9(1). Slides here. [Presented at the Brazilian Finance Meeting 2023 & Cryptocurrency Research Conference 2023]
"Same, but different? A state-level chronology of the 2014-2016 Brazilian economic recession and comparisons with the GFC and (early data on) COVID-19.", with Martinho Lazzari. Economics Bulletin, 40, 2020.
"Market Reaction to Political Risk: Evidence From the 2018 Brazilian Presidential Election.", with Gustavo Pereira and Otávio Figueiredo. Latin American Business Review, pp. 1-29, 2021.
"Unveiling endogeneity between competition and efficiency in European banks: a robust econometric-neural network approach.", with Peter Wanke, Jorge Antunes, and Abuhl Azad. SN Business & Economics 2 (3), 2022.
"Building State-Level Business Cycle Tracer Tools: Evidence from a Large Emerging Economy.", with Renan Cortes, Fernando Cruz, and Luis Paese. International Journal of Economics and Finance 10 (5), 2018.
"Real Options in the Brazilian Power Generation Sector: Are Domestic Equity Research Analysts Blind Sighted or Is It Just a Temporary Glitch", with Marcio Santiago. International Journal of Economics and Finance 15 (5), 2023.
Publications in Brazilian Journals
"Satisfação dos funcionários e retorno das ações no Brasil", with Eduardo Castellano. Brazilian Review of Finance, 23(1), 2025.
"Corporate governance and efficiency of water and sewage companies in Brazil: An empirical analysis", with Luiz Abel de Andrade and Luiz Esteves. Brazilian Review of Finance, 21(3), 2023.
"Interest on Equity versus Dividends: the Role of Shareholder Identity on Corporate Tax Avoidance", with Paulo Terra. Revista Brasileira de Gestão de Negócios, 24, 2022.
"O impacto de criptomoedas na performance de carteiras multiativos: Evidências para o Brasil", with Oswaldo Neto. Brazilian Review of Finance 19(4), 2021.
"Composite leading indicators of economic activity: An application to the upstream oil and gas industry in Rio de Janeiro", with Rafael Patrocínio. Brazilian Review of Finance 18(2), 2020.