Published Papers

• Leite, R., Moraes, F., Moura, M. 2025. Pay to pump: financial influencers and stock returns. Applied Economics Letters, p. 1 - 5 - Paper

• Barthman, G., Moura, M., Norden, L. 2024. Lending technologies and consumer defaults in times of crisis: Evidence from Brazil. Finance Research Letters, v. 62, Part B, 105236 - Paper

Working Papers

• Leite, R., Moraes, F., Moura, M. Hedging Against Uncertainty: Economic Policy Uncertainty and Household Asset Financing. SSRN

  • Revise and Resubmit at the Review of Asset Pricing Studies

• Barthman, G., Karapetyan, A., Moura, M., Norden, L. Like Magic: Reducing Consumer Credit Risk with Non-Pecuniary Incentives. SSRN

Policy Publications:

• Brazilian Securities Exchange Commission in 2025 (Portuguese): Technical Report
  This report presents findings from the second study of my thesis, which investigates investor decision-making in the context of real investments, gambling, and Ponzi schemes under the influence of psychological priming. The results indicate that overconfident and impulsive investors are more likely to invest in Ponzi schemes when exposed to psychological primes. However, these behavioral biases decrease for investors who have higher levels of financial literacy.

• Brazilian Securities Exchange Commission in 2024 (Portuguese): Technical Report
  This report, based on the first study of my thesis, examines investor decision-making in the context of Ponzi schemes under conditions of manipulated risk perception. Conducted in collaboration with the Securities and Exchange Commission of Brazil (CVM), the study finds that individuals tend to overlook key characteristics indicative of Ponzi schemes when their perception of risk is altered.