A member of the Kellogg School faculty since 1982, Robert A. Korajczyk is the Harry G. Guthmann Professor of Finance and co-director of the Center for Financial Institutions and Markets. At Kellogg, Korajczyk has previously served as Senior Associate Dean: Curriculum and Teaching, Chair of the Department of Finance, Director of Graduate Studies for the Department of Finance, and Director of the Zell Center for Risk Research.
Professor Korajczyk’s research interests are in the areas of investments and empirical asset pricing. He is a recipient of the 2022 Journal of Investment Management Harry Markowitz Special Distinction Award; 2009 Crowell Prize for best paper in the field of quantitative asset management, awarded by PanAgora Asset Management; the Alumni Choice Faculty Award 2000; the Core Teaching Award 1998 and 2000; the Sidney J. Levy Teaching Award 1996; the New York Stock Exchange Award for Best Paper on Equity Trading, presented at the 1993 Western Finance Association annual meetings; and the Review of Financial Studies Best Paper Award, 1991.
Professor Korajczyk is an associate editor of Gospodarka Narodowa, past editor of the Review of Financial Studies, and a past associate editor of the Review of Financial Studies, Journal of Business & Economic Statistics, Journal of Empirical Finance, and the Journal of Financial and Quantitative Analysis.
He has held visiting faculty appointments at the University of Chicago, the Vienna University of Economics and Business, the University of Melbourne, the University of Vienna, and the Hong Kong University of Science and Technology.
Professor Korajczyk received his BA, MBA, and PhD degrees from the University of Chicago.
Students enrolled in the Asset Management Practicum's (AMP) sequence of courses participate in managing a portion of the Kellogg School's endowment. Across five different portfolios, the Practicum manages around $19.5 million in total. In the practicum students will rotate across roles of industry analysts and portfolio managers. The AMP courses provides weekly exposure to leading asset management practitioners. Students must take two of the three AMP courses: FINC-456, FINC-457 and FINC-458. AMP requires students to have taken either FINC 431 Finance II or FINC 440 Accelerated Corporate Finance before enrolling in the Practicum. Practicum students have the following additional requirements. Prior to, or during their first quarter of the Practicum, students must have taken or be simultaneously enrolled in one of the following classes: FINC 442 (Financial Decisions); FINC 444 (Value Investing); FINC 448 (M&As, LBOs and Corporate Restructuring); FINC 477 (Global Entrepreneurial Finance), ACCT 451 (Financial Reporting and Analysis) or ACCT 452 (Issues in Financial Reporting). Before their graduation: AMP students must take either FINC-450 (Capital Markets) or FINC-465 (Derivative Markets I). Some of these co-requisites can be waived based on a student's background.
Finance 1 answers managers' and investors' most fundamental finance question: how should a project or an asset be valued? Managers must determine the value of building a factory, entering a new market, or purchasing an entire firm when deciding in which projects to invest. Similarly, individuals must assess the value of financial securities to decide how to invest their wealth. Using a combination of lectures and business cases, Finance 1 teaches the discounted cash flow and multiples methods to value projects or assets. These valuation tools lay the foundation for all work in capital markets and corporate finance.
Prerequisite: Business Analytics I (DECS-430-5)
Corequisite/Prerequisite: Accounting for Decision Making (ACCT-430) and Business Analytics II (DECS 431-0)