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Jess Cornaggia

Color portrait of Jess Cornaggia

Professor of Finance, Alumni Professor in Finance

Department Finance
Office Address 311 Business Building
Phone Number 814-863-2390
Email Address jnc29@psu.edu

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Education

Ph D, University of Texas at Dallas, 2009

Courses Taught

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)
Analyze international business finance problems, impact of evolving inter- national payment systems on business, financial management in modern multi- national enterprise.

Selected Publications

Cornaggia J., Cornaggia K., Israelsen R., "Credit Ratings and the Cost of Municipal Financing." Review of Financial Studies, vol. 31, no. 6, 2018, pp. 2038-2079
Cornaggia J., Li J., "The Value of Access to Finance: Evidence from M&A." Journal of Financial Economics, 2017, pp. 131 (1) 232-250
Cornaggia J., Butler A., Gurun U., "Do Local Capital Market Conditions Affect Consumers' Borrowing Decisions?." Management Science, vol. 63, no. 12, 2017, pp. 4175-4187
Cornaggia J., Cornaggia K., Hund J., "Credit Ratings across Asset Classes: A Long-Term Perspective." Review of Finance, vol. 21, no. 2, 2017, pp. 465-509
Cornaggia J., Cornaggia K., Bruno V., "Does Regulatory Certification Affect the Information Content of Credit Ratings?." Management Science, vol. 62, no. 6, 2016, pp. 1578-1597
Cornaggia J., Cornaggia K., Xia H., "Revolving Doors on Wall Street." Journal of Financial Economics, vol. 120, no. 2, 2016, pp. 400-419
Cornaggia J., Mao Y., Wolfe B., Tian X., "Does Banking Competition Affect Innovation?." Journal of Financial Economics, vol. 115, no. 1, 2015, pp. 189-209
Cornaggia J., "Does Risk Management Matter? Evidence from the U.S. Agricultural Industry." Journal of Financial Economics, vol. 109, no. 2, 2013, pp. 419-440
Cornaggia J., Cornaggia K., "Estimating the Costs of Issuer-Paid Credit Ratings." Review of Financial Studies, vol. 26, no. 9, 2013, pp. 2229-2269
Cornaggia J., Butler A., Grullon G., Weston J., "Corporate Financing Decisions, Managerial Market Timing, and Real Investment." Journal of Financial Economics, vol. 101, no. 3, 2011, pp. 666-683
Cornaggia J., Butler A., "Does Access to External Finance Improve Productivity? Evidence from a Natural Experiment." Journal of Financial Economics, vol. 99, no. 1, 2011, pp. 184-203
Cornaggia J., Cornaggia K., Israelsen R., "Where the Heart Is: Information Production and the Home Bias." Management Science, pp. 61
Revising for third round review.

Research Impact and Media Mentions

"Editor's Blog", Review of Finance, Journal or Magazine
"Lure of Wall Street Cash Said to Skew Credit Ratings", Bloomberg, Internet

Editorships

Journal of Banking and Finance, Associate Editor, (www.journals.elsevier.com/journal-of-banking-and-finance/editorial-board), June 2016 - Present
Management Science, Associate Editor, (pubsonline.informs.org/page/mnsc/editorial-board), January 2016 - Present