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Kimberly Cornaggia

Associate Professor
Department of Finance and Real Estate

  • Professor Cornaggia’s research interests include financial distress, corporate bankruptcy, capital structure, and credit ratings. She has published in the Journal of Finance, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, and the Review of Financial Studies. Dr. Cornaggia earned her PhD in finance at Purdue University and has since enjoyed academic appointments at the Pennsylvania State University, the College of William and Mary, New York University, and Indiana University. She has taught a wide array of courses at the graduate and undergraduate levels including corporation finance, corporate restructuring, equity valuation, and capital markets. Dr. Cornaggia joined the Office of Economic Analysis at the US Securities and Exchange Commission in 2003, and later in 2007, to study the credit ratings industry. She continues to provide the SEC with periodic assistance on this topic.
  • Degrees

    Ph.D. Finance, Krannert Graduate School of Management, Purdue University; Bachelor of Science, Business Administration, University of Nebraska, Lincoln
  • DOWNLOAD CV (PDF)
  • OFFICE

  • KSB - Finance and Real Estate
  • Kogod - 214
  • By appointment
  • CONTACT INFO

  • (202) 885-3908
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  • FOR THE MEDIA

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    news story, call AU Communications
    at 202-885-5950 or submit a request.

Teaching

  • Spring 2014

  • Fall 2014

Scholarly, Creative & Professional Activities

Work In Progress

“Credit Ratings Across Asset Classes”, 2013, with Jess Cornaggia and John Hund.

“Revolving Doors on Wall Street”, 2013, with Jess Cornaggia and Han Xia.

“Does Regulatory Certification Affect the Information Content of Credit Ratings?”, 2013, with Valentina Bruno and Jess Cornaggia.

“Credit Ratings and the Cost of Municipal Financing”, 2014, with Jess Cornaggia and Ryan Israelsen.

“The Value of Uninformative Ratings”, 2013, with Jess Cornaggia and Tim Simin.

“Rating Through the Relationship: Soft Information and Credit Ratings”, 2012, with Alex Butler.

“Managing the Balance Sheet with Operating Leases”, 2012, with Laurel Franzen and Tim Simin.

“Pricing Expected Deviations from Absolute Priority in Bankruptcy”, 2012, with Tim Simin and Arun Upneja.

Selected Publications

“Estimating the Costs of Issuer-Paid Credit Ratings”, 2013, Review of Financial Studies 26, with Jess Cornaggia.

“Bringing Leased Assets onto the Balance Sheet”, 2013, Journal of Corporate Finance 22, with Laurel Franzen and Tim Simin.

“Initial Credit Ratings and Earnings Management”, 2013, Review of Financial Economics 22, with Ozgur Demirtas.

“Financial Restructuring in Fresh Start Chapter 11 Reorganizations”, 2009, Financial Management 38, with Randall Heron and Erik Lie.

“Inter-firm Linkages and the Wealth Effects of Financial Distress along the Supply Chain”, 2008, Journal of Financial Economics 87, with Michael Hertzel, Zhi Li, and Micah Officer.

“Measuring Distress Risk: The Effect of R&D Intensity”, 2007, Journal of Finance 62, with Laurel Franzen and Tim Simin.

“Chapter 11: Duration, Outcome, and Post-Reorganization Performance”, 2007, Journal of Financial and Quantitative Analysis 42, with Diane Denis.

AU Expert

Area of Expertise: Financial distress, bankruptcy, credit ratings, corporate capital structure

Additional Information: Kimberly Rodgers's paper "Inter-firm linkages and the wealth effects of financial distress along the supply chain" won the Fama/DFA Prize for best Capital Markets and Asset Pricing paper published in the Journal of Financial Economics in 2008.

Media Relations
To request an interview please call AU Media Relations at 202-885-5950 or submit an interview request form.

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