Rafael Zambrana Galacho

Rafael Zambrana Galacho is a Visiting Assistant Professor of Finance at Nova School of Business and Economics (NOVA SBE), where he teaches Financial Management in the graduate program. He holds a PhD and a Master’s in Business Economics and Quantitative Methods from Universidad Carlos III de Madrid, and a Bachelor’s in Business Economics from Universidad de Málaga. He was also a visiting scholar at the USC Marshall School of Business in 2013.

His research lies at the intersection of asset management and corporate finance. Key areas include mutual funds, delegated portfolio management, managerial incentives, agency issues, and insider trading. These interests are reflected in his recent publications and collaborations with prominent scholars in the field.

His recent research output, spanning from 2020 to 2025, focuses on mutual fund performance, team dynamics in fund management, the impact of fees on investment behavior, and the economic effects of unexpected financial windfalls. The work often uses large datasets and natural experiments, such as the Spanish Christmas Lottery, to draw robust empirical conclusions.

Rafael Zambrana Galacho’s research has been published in high-impact journals like Management Science and the Journal of Financial and Quantitative Analysis. His work has received media attention and has been referenced in policy discussions, indicating its relevance beyond academia.

He is actively involved in collaborative research, particularly with scholars such as Richard Evans and Melissa Porras Prado. While no formal advising or grant information is provided, his publication record and academic roles suggest strong engagement in research and graduate education at NOVA SBE.