Natural Disasters, Financial Shocks, and Human Capital

Jess Cornaggia
Jess Cornaggia
[email protected]
https://orcid.org/0000-0002-0270-8577
Smeal College of Business, Penn State University, University Park, Pennsylvania 16802
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Kimberly J. Cornaggia
Corresponding Author
Kimberly J. Cornaggia
[email protected]
https://orcid.org/0000-0003-4396-3774
Smeal College of Business, Penn State University, University Park, Pennsylvania 16802
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Han Xia
Han Xia
[email protected]
https://orcid.org/0000-0003-4262-4607
Naveen Jindal School of Management, University of Texas at Dallas, Richardson, Texas 75080
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Jess Cornaggia

[email protected]

https://orcid.org/0000-0002-0270-8577

Smeal College of Business, Penn State University, University Park, Pennsylvania 16802

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,

Kimberly J. Cornaggia

Corresponding Author

Kimberly J. Cornaggia

[email protected]

https://orcid.org/0000-0003-4396-3774

Smeal College of Business, Penn State University, University Park, Pennsylvania 16802

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,

Han Xia

[email protected]

https://orcid.org/0000-0003-4262-4607

Naveen Jindal School of Management, University of Texas at Dallas, Richardson, Texas 75080

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Published Online:29 Aug 2025https://doi.org/10.1287/mnsc.2022.02977

Supplemental Material

mnsc.2022.02977.sm1.pdf

The replication files for this article are available HERE.

cover image Management Science

Volume 72, Issue 5

May 2026

Pages vii-xii, 3629-4567, iv-vi

Article Information

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Received:September 23, 2022
Accepted:November 04, 2024
Published Online:August 29, 2025

Copyright © 2025, INFORMS

Cite as

Jess Cornaggia, Kimberly J. Cornaggia, Han Xia (2025) Natural Disasters, Financial Shocks, and Human Capital. Management Science 72(5):3826-3846.

https://doi.org/10.1287/mnsc.2022.02977

Keywords

Acknowledgments

The authors thank the Institute of Education Sciences of the U.S. Department of Education for access to information on student loan borrowers and Brent Ambrose, Shai Bernstein, Emily Gallagher, Matt Gustafson, Andrew Karolyi, Asaf Manela, Denis Sosyura, and seminar participants at Penn State University and Villanova University for comments.