University of Southern California

Arthur Korteweg
Associate Professor of Finance and Business Economics

USC Marshall School of Business
Los Angeles, CA 90089-0804

PhD, MBA, University of Chicago; Tilburg University MA


Arthur Korteweg is a financial economist whose research interests include corporate finance, private equity, and alternative assets more generally. His corporate finance work aims to quantify the costs and benefits of leverage and the determinants of corporate capital structures. In his private equity research, Arthur focuses on investment decisions in alternative asset classes such as venture capital, leveraged buyout, real estate, and art. Arthur’s work has been published in leading journals including the Journal of Finance, the Journal of Financial Economics and the Review of Financial Studies, and has been cited in the Wall Street Journal, Financial Times, New York Times, and Forbes, amongst others. Prior to joining Marshall in 2014, Arthur was an Associate Professor of Finance at Stanford's Graduate School of Business.


Korteweg, A., Bernstein, S., and Laws, K. (2016) "Attracting Early Stage Investors: Evidence from a Randomized Field Experiment," Journal of Finance, forthcoming.
Korteweg, A., and Sorensen, M. (2016) "Skill and Luck in Private Equity Performance," Journal of Financial Economics, forthcoming.
Korteweg, A., Kraussl, R., and Verwijmeren, P. (2016) "Does it Pay to Invest in Art? A Selection-corrected Returns Perspective," Review of Financial Studies, 29 (4), 1007-1038.
Korteweg, A., and Nagel, S. (2016) "Risk-Adjusting the Returns to Venture Capital," Journal of Finance, 71 (3), 1437-1470.
Korteweg, A., and Sorensen, M. (2016) "Estimating Loan-to-Value Distributions," Real Estate Economics, 44 (1), 41-86.
Korteweg, A., Johannes, M., and Polson, N. (2014) "Sequential Learning, Predictability, and Optimal Portfolio Returns," Journal of Finance, 69 (2), 611-644.
Korteweg, A., "Markov Chain Monte Carlo Methods in Corporate Finance," in Damien, P., Dellaportas, P., Polson, N., and Stephens, D., eds., Bayesian Theory and Applications, Oxford University Press 2013.