Dra. Layla Mendes

Education

• PhD in Business, Brazilian School of Public and Business Administration - FGV EBAPE (2017-2021)

• MSc in Business, Brazilian School of Public and Business Administration  - FGV EBAPE (2015-2016)

• BA in Business Administration, Universidade Federal de Juiz de Fora - UFJF (2010-2014)

Academic Position

• Professor, Brazilian School of Economics and Finance - FGV EPGE (2020-present)

• Resercher in Finance and Entrepreneurship.

Research

Publications:

• FERNANDES, G.; MENDES, L. S.; Tachy, M. (2026). A global assessment of banks’ capacity to support the energy transition: Evidence from developed and emerging markets.  Journal of International Money and Finance.

• LEITE, R.O.; MENDES, L. S; NASCIMENTO I. (2025). The political economy of banks’ cash holdings. Journal of Economic Studies.

• LEITE, R.O.; MENDES, L. S; Camelo E. (2024). Innovating Microcredit: how fintechs change the field. Journal of Economics and Business.

• LEITE, R.O.; Moura M.; MENDES, L. S.; Pilla L.H.L. (2024). Bank Accessibility and Entrepreneurial Activity: Evidence from Brazil. International Journal of Financial Studies. 

• MENDES, L. S.; FAJARDO, J.; LEITE, R.O. (2022). Do Contingent Convertible Bonds Reduce Systemic Risk? Journal of International Financial Markets, Institutions & Money.

•  LEITE, R. O.; MENDES, L. S.; Tommasetti, R.; Maia, V. M.; Larrain, R. S.;  (2022); The Role of Motivated Financial Institutions on Community Currencies Loans. International Journal of Financial Studies.

• FERNANDES, G.; MENDES, L. S.; LEITE, R. O. (2021). Cash holdings and profitability of banking firms in developed and emerging markets. International Review of Economics and Finance.

• LEITE, R. O. ; MENDES, L. S. ; MOREIRA, R. L. (2020). Profit Status of Microfinance Institutions and Incentives for Earnings Management. Research in International Business and Finance.

• LEITE, R.O.; DIAS, R.; MENDES, L. S. (2020). Morality and perception of corruption. Latin American Business Review.

• MENDES, L. S.; FAJARDO, J. (2019). On the propensity to issue contingent convertible (CoCo) bonds. Quantitative Finance. 

• LEITE, R.O., MENDES, L. S.; SACRAMENTO L.C. (2019). To Profit or not to Profit? Assessing financial sustainability outcomes of Microfinance Institutions. International Journal of Finance & Economics.

Working Papers:

• MENDES, L. S.; LEITE, R.O.; FAJARDO, J. Hybrid Securities as a strategy of sequential finance in the banking sector.  (submitted)

• MENDES, L. S.; MOTTA, J. H.; MENEZES, A. L. Poverty Mafia? Contributions of Government-nonprofit Collaborations to Reduce Educational Inequality  (submitted)

• MENDES, L. S.; LEITE, R.O.; MOREIRA, C. A. S. Predicting Openings and Closings of Bank Branches Using Machine Learning: Evidence from Brazil.  (submitted)

• LEITE, R.O.; MENDES, L. S.; Moura M. The Real Effects of Fintech: Instant Digital Payments and Entrepreneurship.  (submitted)

• FERNANDES, G.; MENDES, L. S.; SILVA, D. F. C.; Determinants of the Green Finance Gap: Evidence from Cross-Country Latent Constructs.

• LEITE, R.O.; MENDES, L. S.; MITROF, T. P.; Assessing the influence of the Internet on Portfolio Risk in Microfinance Institutions

Working in Progress:

• MENDES, L. S.; LEITE, R.O.; LUNA, L.; Subsidies and Entrepreneurship: The Role of Financial Technology 

• PALOMO, P. S. H.; TAVARES, G.M.; BARROS, L. S. G.; ISABELLA, G.; MENDES, L. S.; O Efeito de Diferentes Nudges para Tomada de Decisão de Poupança Individual

• SOARES, P.; MENDES, L. S.; LEITE, R.O.;Desenrola Brasil: Impacto Sobre a Inadimplência e o Volume de Crédito da População de Baixa Renda

TEACHING

Fundação Getulio Vargas:

• EPGE,

  1. Entrepreneurship Lab, 2020–2025

  2. Financial Mathematics and Accounting, 2024–2025

  3. Field Project, 2022–2023

• EAESP

  1. Entrepreneurship Immersion, 2025

• EBAPE

  1. Entrepreneurship, 2026

  2. Innovation and Business Models, 2026

COPPEAD/UFRJ

• Financial Innovation, MBA Program, 2022

OTHER ACTIVITIES:

• Workshop on Financial Decision-Making, high schools in Rio de Janeiro, 2021-2025

• Course on Financial Innovation, SBFin School, 2025

• Lecture on Economics and Finance, FGV CDMC, 2025

• Mentor to the winning team at L’Oréal Brandstorm 2024 (Brazil), a global innovation competition

Professional Positions

• Business Consulting for startups, Genêsis PUC Rio (2024 - atual)

• Data Analysis & Decision-Making Consulting, Liti Saúde (2023 - 2024)

• Co-founder of Hathor Network, a blockchain startup (2018-2022)

• Smarti9, intern in a technology development startup (2013-2014)

• SEBRAE, intern in financial departament (2011-2012)