A member of the Kellogg School faculty since 1982, Robert A. Korajczyk is the Harry G. Guthmann Professor of Finance. At Kellogg, Korajczyk has previously served as Senior Associate Dean: Curriculum and Teaching, Chair of the Department of Finance, Director of the Zell Center for Risk Research, and co-director of the Financial Institutions and Markets Research Center.Professor Korajczyk’s research interests are in the areas of investments and empirical asset pricing. He is a recipient of the 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 a 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 University of Melbourne, the University of Vienna, and the Hong Kong University of Science and Technology. Professor Korajczyk serves on the product development committees of Select Innovation Investments, LLC and DSC Quantitative Group, LLC.
Professor Korajczyk received his BA, MBA, and PhD degrees from the University of Chicago.
**This course was formerly known as FINC-935-0**
Students enrolled in this sequence of courses will manage a portion of the Kellogg School's endowment. The courses will combine investment theory with exposure to leading practitioners. Students will rotate across roles of industry analysts, hedge fund fund-of-funds managers, traders, quantitative analysts, and portfolio managers. Students must take three of the four AMP courses: FINC-456, FINC-457, FINC-458, or FINC-459.
Recommended prerequisite: FINC 431 Finance II or FINC 440 Accelerated Corporate Finance
Co-requisites: Practicum students have the following additional requirements.1) For their first quarter of the practicum, students must have taken or be simultaneously registered for one of the following classes: FINC 442: Financial Decisions; FINC 444: Value Investing; FINC 448: M&As, LBOs and Corporate Restructuring; FINC 463: Security Analysis; FINC 477: Global Entrepreneurial Finance, or ACCT 451: Financial Reporting and Analysis (or have the requirement waived by Professor Vincent). 2) Before graduation: either FINC-950 (Capital Markets) or FINC-465 (Derivative Markets I).
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)