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Arthur G. Korteweg

University of Southern California - Marshall School of Business

Associate Professor of Finance and Business Economics

3670 Trousdale Parkway

Los Angeles, CA 90089

United States

http://www-bcf.usc.edu/~korteweg/

  • University of Southern California - Marshall School of Business

SCHOLARLY PAPERS

16

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CITATIONS
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118

Scholarly Papers (16)

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1.

The Costs of Financial Distress Across Industries

Number of pages: 59 Posted: 17 Nov 2006
Arthur G. Korteweg
University of Southern California - Marshall School of Business
Downloads 2,895 (2,381)
Citation 8

Abstract:

financial distress, bankruptcy, capital structure, trade-off theory, agency costs, MCMC

2.

Financial Leverage and Expected Stock Returns: Evidence from Pure Exchange Offers

Number of pages: 46 Posted: 04 Oct 2004
Arthur G. Korteweg
University of Southern California - Marshall School of Business
Downloads 1,932 (4,988)
Citation 6

Abstract:

Financial leverage, expected returns, exchange offers, levered beta, asset beta, capital structure, modigliani-miller, market efficiency, convertible arbitrage, capital structure arbitrage

3.

Skill and Luck in Private Equity Performance

Downloads 1,625 ( 7,887)

Skill and Luck in Private Equity Performance

Rock Center for Corporate Governance at Stanford University Working Paper No. 179
Number of pages: 69 Posted: 03 Apr 2014 Last Revised: 16 Dec 2015
Arthur G. Korteweg and Morten Sorensen
University of Southern California - Marshall School of Business and Copenhagen Business School
Downloads 1,319 (10,799)

Abstract:

Persistence, private equity, venture capital, skill, learning

Skill and Luck in Private Equity Performance

Netspar Discussion Paper No. 04/2014-026
Number of pages: 59 Posted: 08 Jul 2014
Arthur G. Korteweg and Morten Sorensen
University of Southern California - Marshall School of Business and Copenhagen Business School
Downloads 306 (79,527)

Abstract:

4.

Does It Pay to Invest in Art? A Selection-Corrected Returns Perspective

Review of Financial Studies, Vol. 29, No. 4, 2016
Number of pages: 72 Posted: 17 Jun 2013 Last Revised: 12 Jan 2017
Arthur G. Korteweg, Roman Kräussl and Patrick Verwijmeren
University of Southern California - Marshall School of Business, Luxembourg School of Finance and Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE)
Downloads 1,540 (8,569)

Abstract:

Art investing, Alternative Assets, Selection bias, Illiquidity, Portfolio Choice, Asset Allocation, MCMC

5.

Corporate Credit Spreads under Parameter Uncertainty

AFA 2009 San Francisco Meetings Paper
Number of pages: 45 Posted: 26 Mar 2008 Last Revised: 30 Nov 2009
Arthur G. Korteweg and Nick Polson
University of Southern California - Marshall School of Business and University of Chicago - Booth School of Business
Downloads 1,503 (8,552)
Citation 10

Abstract:

Credit risk, credit spread, bankruptcy, default, corporate bonds, MCMC

6.

The Net Benefits to Leverage

Journal of Finance, Forthcoming
Number of pages: 56 Posted: 30 Mar 2009
Arthur G. Korteweg
University of Southern California - Marshall School of Business
Downloads 1,440 (7,387)
Citation 35

Abstract:

capital structure, leverage, financial distress, trade-off theory, agency costs, MCMC

7.

Sequential Learning, Predictability, and Optimal Portfolio Returns

Journal of Finance, Forthcoming, AFA 2009 San Francisco Meetings Paper
Number of pages: 58 Posted: 25 Mar 2008 Last Revised: 04 Apr 2013
Michael S. Johannes, Arthur G. Korteweg and Nick Polson
Columbia Business School - Finance and Economics, University of Southern California - Marshall School of Business and University of Chicago - Booth School of Business
Downloads 1,241 (10,103)
Citation 9

Abstract:

Learning, predictability, optimal portfolio formation

8.

Risk and Return Characteristics of Venture Capital-Backed Entrepreneurial Companies

Downloads 1,212 ( 12,599)
Citation 32

Risk and Return Characteristics of Venture Capital-Backed Entrepreneurial Companies

Review of Financial Studies, Forthcoming, AFA 2009 San Francisco Meetings Paper
Number of pages: 58 Posted: 25 Mar 2008 Last Revised: 13 Jan 2015
Arthur G. Korteweg and Morten Sorensen
University of Southern California - Marshall School of Business and Copenhagen Business School
Downloads 1,042 (15,667)
Citation 32

Abstract:

Entrepreneurship, Venture Capital, Sample Selection, Liquidity, Endogenous Trading, MCMC, Gibbs Sampling

Risk and Return Characteristics of Venture Capital-Backed Entrepreneurial Companies

The Review of Financial Studies, Vol. 23, No. 10, pp. 3738-3772, 2011
Number of pages: 63 Posted: 27 Oct 2011
Arthur G. Korteweg and Morten Sorensen
University of Southern California - Marshall School of Business and Copenhagen Business School
Downloads 93 (232,751)
Citation 31

Abstract:

Risk and Return Characteristics of Venture Capital-Backed Entrepreneurial Companies

Netspar Discussion Paper No. 01/2011-033
Number of pages: 64 Posted: 25 Apr 2011
Arthur G. Korteweg and Morten Sorensen
University of Southern California - Marshall School of Business and Copenhagen Business School
Downloads 77 (262,290)
Citation 32

Abstract:

9.

Markov Chain Monte Carlo Methods in Corporate Finance

Number of pages: 44 Posted: 26 Nov 2011
Arthur G. Korteweg
University of Southern California - Marshall School of Business
Downloads 1,020 (11,881)
Citation 1

Abstract:

Markov Chain Monte Carlo, Corporate Finance

10.

The Choice between Rights-Preserving Issue Methods. Regulatory and Financial Aspects of Issuing Seasoned Equity in the UK

ECGI - Finance Working Paper No. 15/2003
Number of pages: 45 Posted: 24 Mar 2003
Arthur G. Korteweg and Luc Renneboog
University of Southern California - Marshall School of Business and Tilburg University - Department of Finance
Downloads 753 (21,751)
Citation 7

Abstract:

seasoned equity, rights issue, open offer, capital structure, financial distress

11.

Risk-Adjusting the Returns to Venture Capital

Downloads 590 ( 35,943)
Citation 2

Risk-Adjusting the Returns to Venture Capital

Journal of Finance, Forthcoming, Rock Center for Corporate Governance at Stanford University Working Paper No. 180, Stanford University Graduate School of Business Research Paper No. 14-10
Number of pages: 49 Posted: 14 Aug 2013 Last Revised: 17 Jun 2015
Arthur G. Korteweg and Stefan Nagel
University of Southern California - Marshall School of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 568 (37,261)
Citation 2

Abstract:

venture capital, private equity, risk-adjusted returns, performance measurement, stochastic discount factor, CAPM, PME, GMM

Risk-Adjusting the Returns to Venture Capital

NBER Working Paper No. w19347
Number of pages: 46 Posted: 17 Aug 2013
Arthur G. Korteweg and Stefan Nagel
University of Southern California - Marshall School of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 21 (450,517)
Citation 2

Abstract:

Risk-Adjusting the Returns to Venture Capital

CEPR Discussion Paper No. DP9610
Number of pages: 47 Posted: 03 Sep 2013
Arthur G. Korteweg and Stefan Nagel
University of Southern California - Marshall School of Business and University of Michigan, Stephen M. Ross School of Business
Downloads 1 (568,207)
Citation 2

Abstract:

Stochastic Discount Factor, Systematic Risk, Venture Capital

12.

An Empirical Target Zone Model of Dynamic Capital Structure

AFA 2012 Chicago Meetings Paper
Number of pages: 53 Posted: 19 Mar 2011 Last Revised: 19 Nov 2015
Arthur G. Korteweg and Ilya A. Strebulaev
University of Southern California - Marshall School of Business and Stanford University - Graduate School of Business
Downloads 534 (28,764)

Abstract:

Capital structure, refinancing, adjustment costs, structural models, dynamic models

13.

Structural Models of Capital Structure: A Framework for Model Evaluation and Testing

AFA 2013 San Diego Meetings Paper
Number of pages: 46 Posted: 19 Mar 2012 Last Revised: 14 Jan 2013
Arthur G. Korteweg and Michael Lemmon
University of Southern California - Marshall School of Business and University of Utah - Department of Finance
Downloads 468 (39,919)
Citation 1

Abstract:

capital structure, structural model, model testing

14.

Attracting Early Stage Investors: Evidence from a Randomized Field Experiment

Journal of Finance, Forthcoming, Rock Center for Corporate Governance at Stanford University Working Paper No. 185, Stanford University Graduate School of Business Research Paper No. 14-17
Number of pages: 47 Posted: 02 May 2014 Last Revised: 28 Aug 2015
Shai Bernstein, Arthur G. Korteweg and Kevin Laws
Stanford Graduate School of Business, University of Southern California - Marshall School of Business and AngelList
Downloads 339 (4,175)

Abstract:

Angel investors, early stage firms, entrepreneurship, crowdfunding, theory of the firm, portfolio selection, correspondence testing

15.

Estimating Loan-to-Value Distributions

Downloads 277 ( 89,504)
Citation 4

Estimating Loan-to-Value Distributions

Columbia Business School Research Paper No. 12-15
Number of pages: 57 Posted: 14 Sep 2011 Last Revised: 18 Jun 2014
Arthur G. Korteweg and Morten Sorensen
University of Southern California - Marshall School of Business and Copenhagen Business School
Downloads 269 (91,962)
Citation 4

Abstract:

Real Estate Prices, Loan-To-Value, Repeat-Sales Price Index, Sample Selection, Bayesian Estimation, Gibbs Sampling, MCMC

Estimating Loan-to-Value and Foreclosure Behavior

NBER Working Paper No. w17882
Number of pages: 59 Posted: 02 Mar 2012
Arthur G. Korteweg and Morten Sorensen
University of Southern California - Marshall School of Business and Copenhagen Business School
Downloads 8 (524,607)
Citation 4

Abstract:

16.

Estimating Loan‐To‐Value Distributions

Downloads 0 (553,449)

Estimating Loan‐To‐Value Distributions

Real Estate Economics, Vol. 44, Issue 1, pp. 41-86, 2016
Number of pages: 46 Posted: 20 Jan 2016
Arthur G. Korteweg and Morten Sorensen
University of Southern California - Marshall School of Business and Copenhagen Business School
Downloads 0
Citation 3

Abstract:

Estimating Loan-to-Value Distributions

Real Estate Economics, Forthcoming
Posted: 22 Jul 2014
Arthur G. Korteweg and Morten Sorensen
University of Southern California - Marshall School of Business and Copenhagen Business School

Abstract:

Loan-to-Value, Price Dispersion, Real Estate Indices, Sample Selection, Bayesian Estimation

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