Luis Ferruz Agudo
Full Professor
Personal Docente e Investigador
Departamento de Contabilidad y Finanzas
Area de Economia Financiera y Contabilidad
Facultad de Economía y Empresa
Facultad de Economía y Empresa
Outside phone: 


Taught lectures: 

Gestión financiera, ética y medio ambiente(61431)

Gestión de riesgos financieros(30625)

Dirección Financiera(30620)

Coordinated lectures: 

Gestión de riesgos financieros(30625)

Dirección Financiera(30620)


Research activity: 

Luis Ferruz is Full Professor in Finance and Director of the Consolidated Financial Research Group GIECOFIN. He is specialist and expert in Corporate Finance in the context of Corporate Social Responsibility, CSR.  Before joining the University of Zaragoza, he worked as a Financial Analyst and Financial Supervisor in General Motors Spain (Opel Spain, PSA Spain).

He has written several teaching manuals, some of them at national level, in several subjects related with Finance. He has 4 six-year research periods positively assessed by the competent authority within the Ministry of Spanish Economy and Competitiviness, CNEAI, what involves a great amount of high quality JCR financial research papers.  Regarding his Management University tasks and jobs, among many others, he has launched, created and managed several Post-Graduate Financial Assessment Courses as approved E.F.P.A.


Research topics:

·         Financial Management and Financial Risk Management in CSR and ESG context.

·         Socially Responsible Investments, SRI.

·         Mutual Funds and Pension Funds.

·         Portfolio Management.

·         Behavioural Finance.


Papers selected:

Luis Ferruz and Guillermo Badía (2016): “Model adapted from Fama and French, paying attention to the assumptions of the estimation methodology”. Análisis Financiero n° 130. 2016. Págs.: 24-39 

Luis Ferruz y Guillermo Badía (2016):”Adapting and testing the Fama and French model, with some variations of company characteristics”.Applied Economics LettersPublished online: 02 Jul 2016OpenURL University of Zaragoza.

Luis Ferruz y Luis Lample (2016): “Analysis of the impact of excess mortgages on housing prices using the cointegration test”  Applied Economics Letters Published online: 15 Feb 2016

Luis Ferruz y Guillermo Badía (2015): A sector strategy from the Fama and French model”. Applied Economics Letters  Published online: 06 May 2015Open URL University of Zaragoza

Luis Ferruz y Jesús Ancizar Gómez Daza (2015): Fondos de pensiones y su relación de dependencia con el mercado de acciones español. “Un análisis de correlación condicional dinámica Mgarch”.  Anales del Instituto de Actuarios Español, (21): 135-160


Research groups: