Jess Cornaggia
Professor of Finance
Department Finance
Office Address 311 Business Building
Phone Number
814-863-2390
Email Address
jnc29@psu.edu
Jess Cornaggia
Professor of Finance
Department Finance
Office Address 311 Business Building
Phone Number
814-863-2390
Email Address
jnc29@psu.edu
Education
Ph D, The University of Texas at Dallas, 2009
Courses Taught
FIN 597 – Special Topics (1.5)
FIN 601 – Ph D Dis Full-Time
NO DESCRIPTION.
FIN 407 – Mult Fin Mgmt (3)
Analysis of the international aspects of managerial finance; emphasis on the impact of the international financial environment on firm operations.
FIN 855 – Global Finance (2)
This course provides a broad exploration of international finance in the context of how a corporate strategic manager analyzes the complexities of international financial markets. In particular, the course develops a tool-kit of techniques to a) understand global market interconnectivity, b) value international financial instruments and c) analyze risk, hedging, and asset pricing strategies to secure strategic competitive advantage. Building on these insights students will gain a deep understanding of exchange rates, risk management, forecasting, and international capital flows. More specifically students will study foreign exchange markets, hedging strategies using forward and future instruments, purchasing power parity, the eurocurrency market, international portfolio management, and the overall financial management of the international firm. Students will recognize, identify and apply the following core international finance concepts and analytical strategy tools: 1. The economics of foreign trade, the Law of One Price, and Purchasing Power Parity 2. The mechanism of Capital Flows and the effect on a country's "current account" vs. its "capital account"3. The foreign exchange market and its influence on the pricing of tradeable goods 4. How exchange rates affect consumers vs. manufacturers of tradeable goods 5. How interest rates are determined, inflation forecasting, and how interest rate expectations influence strategic decision-making for both the firm and the individual market actor. 6. How financial instruments such as forwards, futures, swaps, and options mitigate risk and reduce earnings uncertainty 7. How to build and manage a diversified international portfolio which maximizes return relative to a multinational corporation's specific risk profile.