Kjell G. Nyborg

University of Zurich - Department of Banking and Finance

Prof. Dr. Kjell G. Nyborg

Plattenstrasse 14

Zürich, 8032

Switzerland

Centre for Economic Policy Research (CEPR)

Research Fellow

London

United Kingdom

Swiss Finance Institute

c/o University of Geneva

40, Bd du Pont-d'Arve

CH-1211 Geneva 4

Switzerland

  • University of Zurich - Department of Banking and Finance

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SCHOLARLY PAPERS

39

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243

Scholarly Papers (39)

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1.

Consistent Methods of Valuing Companies By Dcf: Methods and Assumptions

Number of pages: 21 Posted: 18 Aug 2006
Ian A. Cooper and Kjell G. Nyborg
London Business School and University of Zurich - Department of Banking and Finance
Downloads 2,048 (17,015)
Citation 6

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discounted cash flow, APV, WACC, leverage policy, value of tax shields, equity cash flow

2.

Valuing the Debt Tax Shield

NHH Dept. of Finance & Management Science Discussion Paper No. 2007/15
Number of pages: 28 Posted: 12 Apr 2007
Ian A. Cooper and Kjell G. Nyborg
London Business School and University of Zurich - Department of Banking and Finance
Downloads 1,938 (18,638)
Citation 9

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3.

The Choice of Valuation Techniques in Practice: Education versus Profession

Downloads 1,556 (26,100)
Citation 30

The Choice of Valuation Techniques in Practice: Education versus Profession

Swiss Finance Institute Research Paper No. 16-36
Number of pages: 61 Posted: 27 May 2016 Last Revised: 04 Nov 2016
Lilia Mukhlynina and Kjell G. Nyborg
University of Zurich - Department Finance and University of Zurich - Department of Banking and Finance
Downloads 1,551 (25,771)
Citation 7

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Valuation, survey, sociological hypothesis, multiples, DCF

The Choice of Valuation Techniques in Practice: Education Versus Profession

CEPR Discussion Paper No. DP11303
Number of pages: 60 Posted: 07 Jun 2016
Lilia Mukhlynina and Kjell G. Nyborg
University of Zurich - Department Finance and University of Zurich - Department of Banking and Finance
Downloads 5 (1,366,391)
Citation 23
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DCF, finance education, multiples, sociological hypothesis, Valuation, valuation cultures

4.

Consistent Valuation of Project Finance and LBO's Using the Flows-to-Equity Method

Downloads 1,477 (28,202)
Citation 2

Consistent Valuation of Project Finance and LBO's Using the Flows-to-Equity Method

Number of pages: 33 Posted: 25 Aug 2010 Last Revised: 13 Mar 2017
Ian A. Cooper and Kjell G. Nyborg
London Business School and University of Zurich - Department of Banking and Finance
Downloads 800 (66,424)
Citation 1

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Valuation, flows-to-equity, equity cash flow, cost of equity, project finance, LBO

Consistent Valuation of Project Finance and LBO's Using the Flows-to-Equity Method

Swiss Finance Institute Research Paper No. 10-51
Number of pages: 26 Posted: 14 Dec 2010 Last Revised: 05 Jan 2017
Ian A. Cooper and Kjell G. Nyborg
London Business School and University of Zurich - Department of Banking and Finance
Downloads 677 (82,640)
Citation 1

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Valuation, flows-to-equity, equity cash flow, cost of equity, project finance, LBO

5.

Central Bank Collateral Frameworks

Downloads 1,256 (35,768)
Citation 16

Central Bank Collateral Frameworks

Swiss Finance Institute Research Paper No. 15-10
Number of pages: 54 Posted: 26 Mar 2015
Kjell G. Nyborg
University of Zurich - Department of Banking and Finance
Downloads 1,251 (35,413)
Citation 12

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central bank, banks, collateral, money, liquidity, monetary system, financial system, monetary policy, ratings, guarantees, haircuts, Eurosystem, ECB

Central Bank Collateral Frameworks

CEPR Discussion Paper No. DP10663
Number of pages: 53 Posted: 22 Jun 2015
Kjell G. Nyborg
University of Zurich - Department of Banking and Finance
Downloads 5 (1,366,391)
Citation 4
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banks, central bank, collateral, ECB, Eurosystem, financial system, guarantees, haircuts, liquidity, monetary policy, monetary system, money, ratings

6.

Discount Rates and Tax

Number of pages: 39 Posted: 06 Sep 2004
Ian A. Cooper and Kjell G. Nyborg
London Business School and University of Zurich - Department of Banking and Finance
Downloads 941 (54,070)

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7.

Stock Liquidity and Corporate Cash Holdings: Feedback and the Cash as Ammunition Hypothesis

Downloads 924 (55,452)
Citation 1

Stock Liquidity and Corporate Cash Holdings: Feedback and the Cash as Ammunition Hypothesis

Swiss Finance Institute Research Paper No. 13-36
Number of pages: 60 Posted: 27 Jun 2013 Last Revised: 03 Nov 2014
Kjell G. Nyborg and Zexi Wang
University of Zurich - Department of Banking and Finance and Lancaster University
Downloads 919 (54,985)
Citation 1

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Corporate cash holdings, Stock liquidity, Feedback

Stock Liquidity and Corporate Cash Holdings

CEPR Discussion Paper No. DP9535
Number of pages: 49 Posted: 09 Jul 2013
Kjell G. Nyborg and Zexi Wang
University of Zurich - Department of Banking and Finance and Lancaster University
Downloads 5 (1,365,511)
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cascades, cash holdings, feedback, information, Stock liquidity

8.

Bidding and Performance in Repo Auctions - Evidence from ECB Open Market Operations

Downloads 803 (67,136)
Citation 29

Bidding and Performance in Repo Auctions - Evidence from ECB Open Market Operations

Number of pages: 57 Posted: 29 May 2003
Kjell G. Nyborg, Ulrich Bindseil and Ilya A. Strebulaev
University of Zurich - Department of Banking and Finance, European Central Bank (ECB) and Stanford University - Graduate School of Business
Downloads 434 (143,833)
Citation 11

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Repo auctions, multiunit auctions, discriminatory auctions, reserve requirements, money markets, central bank, interest rates, collateral, open market operations.

Bidding and Performance in Repo Auctions: Evidence from ECB Open Market Operations

FEEM Working Paper No. 92.05
Number of pages: 59 Posted: 28 Jul 2005
Kjell G. Nyborg, Ulrich Bindseil and Ilya A. Strebulaev
University of Zurich - Department of Banking and Finance, European Central Bank (ECB) and Stanford University - Graduate School of Business
Downloads 344 (187,130)
Citation 17

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Repo auctions, Multiunit auctions, Reserve requirements, Loser's nightmare, Money markets, Central bank, Collateral, Open market operations

Bidding and Performance in Repo Auctions - Evidence from ECB Open Market Operations

Number of pages: 46 Posted: 26 May 2004
Ulrich Bindseil, Kjell G. Nyborg and Ilya A. Strebulaev
European Central Bank (ECB), University of Zurich - Department of Banking and Finance and Stanford University - Graduate School of Business
Downloads 25 (1,126,794)
Citation 1
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Multiunit auctions, reserve requirements, loser's nightmare, money markets, collateral, repo auctions, central bank, open market operations

9.

Money and Liquidity in Financial Markets

Downloads 802 (67,236)
Citation 7

Money and Liquidity in Financial Markets

Swiss Finance Institute Research Paper No. 10-25
Number of pages: 65 Posted: 21 Jun 2010 Last Revised: 15 Jul 2013
Kjell G. Nyborg and Per Östberg
University of Zurich - Department of Banking and Finance and University of Zurich - Department of Banking and Finance
Downloads 792 (67,310)
Citation 3

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money, liquidity, interbank and financial markets, liquidity pull-back, volume, order imbalance, returns, portfolio rebalancing, Libor-OIS spread, VIX

Money and Liquidity in Financial Markets

CEPR Discussion Paper No. DP7905
Number of pages: 55 Posted: 19 Jul 2010
Kjell G. Nyborg and Per Östberg
University of Zurich - Department of Banking and Finance and University of Zurich - Department of Banking and Finance
Downloads 10 (1,321,843)
Citation 4
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interbank and financial markets, liquidity, liquidity pull-back, money

10.

The Effect of Stock Liquidity on Cash Holdings: The Repurchase Motive

Downloads 708 (79,194)
Citation 22

The Effect of Stock Liquidity on Cash Holdings: The Repurchase Motive

Swiss Finance Institute Research Paper No. 19-30, Journal of Financial Economics (JFE), Forthcoming
Number of pages: 73 Posted: 03 Jun 2019 Last Revised: 05 Dec 2020
Kjell G. Nyborg and Zexi Wang
University of Zurich - Department of Banking and Finance and Lancaster University
Downloads 705 (78,519)
Citation 22

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Corporate cash holdings, Stock liquidity, Repurchases, Credit lines

Corporate Cash Holdings: Stock Liquidity and the Repurchase Motive

CEPR Discussion Paper No. DP13791
Number of pages: 60 Posted: 29 Jul 2019
Kjell G. Nyborg and Zexi Wang
University of Zurich - Department of Banking and Finance and Lancaster University
Downloads 3 (1,378,198)
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corporate cash holdings, Repurchases, Stock liquidity

11.

The Value of Tax Shields is Equal to the Present Value of Tax Shields

Downloads 671 (84,769)
Citation 14

The Value of Tax Shields is Equal to the Present Value of Tax Shields

London Business School Institute of Finance No. IFA-428
Number of pages: 9 Posted: 15 Oct 2004
Ian A. Cooper and Kjell G. Nyborg
London Business School and University of Zurich - Department of Banking and Finance
Downloads 617 (93,155)
Citation 11

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Tax shields, leverage, adjusted present value.

The Value of Tax Shields is Equal to the Present Value of Tax Shields

CEPR Discussion Paper No. 5182
Number of pages: 17 Posted: 25 Aug 2005
Ian A. Cooper and Kjell G. Nyborg
London Business School and University of Zurich - Department of Banking and Finance
Downloads 54 (832,837)
Citation 3
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Tax shields, leverage, adjusted present value

The Value of Tax Shields is Equal to the Present Value of Tax Shields

Journal of Financial Economics, Vol. 81, No. 1, July 2006
Posted: 21 Aug 2006
Ian A. Cooper and Kjell G. Nyborg
London Business School and University of Zurich - Department of Banking and Finance

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Value of tax shields, Leverage policy, Adjusted present value, Unlevered beta, Cost of capital

12.

Collateral, Central Bank Repos, and Systemic Arbitrage

Downloads 623 (93,214)
Citation 11

Collateral, Central Bank Repos, and Systemic Arbitrage

Swiss Finance Institute Research Paper No. 16-66
Number of pages: 58 Posted: 18 Nov 2016
Falko Fecht, Kjell G. Nyborg, Jörg Rocholl and Jiri Woschitz
Deutsche Bundesbank, University of Zurich - Department of Banking and Finance, ESMT European School of Management and Technology and BI Norwegian Business School
Downloads 621 (92,387)
Citation 9

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Collateral, repo, systemic arbitrage, central bank, collateral policy, banks, liquidity, interbank market, financial stability, financial fragmentation

Collateral, Central Bank Repos, and Systemic Arbitrage

CEPR Discussion Paper No. DP11663
Number of pages: 59 Posted: 29 Nov 2016
Falko Fecht, Kjell G. Nyborg, Jörg Rocholl and Jiri Woschitz
Deutsche Bundesbank, University of Zurich - Department of Banking and Finance, ESMT European School of Management and Technology and BI Norwegian Business School
Downloads 2 (1,386,022)
Citation 2
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banks, central bank, Collateral, collateral policy, financial fragmentation, financial stability, interbank market, liquidity, repo, systemic arbitrage

13.

Tax-Adjusted Discount Rates With Investor Taxes and Risky Debt

Downloads 613 (95,178)
Citation 7

Tax-Adjusted Discount Rates With Investor Taxes and Risky Debt

London Business School Institute of Finance Paper
Number of pages: 19 Posted: 18 Oct 2004 Last Revised: 26 Nov 2007
Ian A. Cooper and Kjell G. Nyborg
London Business School and University of Zurich - Department of Banking and Finance
Downloads 608 (94,924)
Citation 5

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Capital structure, valuation, risky debt, cost of capital

Tax-Adjusted Discount Rates with Investor Taxes and Risky Debt

CEPR Discussion Paper No. DP6646
Number of pages: 21 Posted: 05 Jun 2008
Ian A. Cooper and Kjell G. Nyborg
London Business School and University of Zurich - Department of Banking and Finance
Downloads 5 (1,366,391)
Citation 2
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Tax adjusted discount rate, WACC

Tax-Adjusted Discount Rates with Investor Taxes and Risky Debt

Financial Management, Summer 2008
Posted: 01 Oct 2008
Ian A. Cooper and Kjell G. Nyborg
London Business School and University of Zurich - Department of Banking and Finance

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Capital structure, value of tax shields, risky debt, cost of capital, WACC

14.

Multiple Unit Auctions and Short Squeezes

Number of pages: 44 Posted: 10 Apr 2003
Kjell G. Nyborg and Ilya A. Strebulaev
University of Zurich - Department of Banking and Finance and Stanford University - Graduate School of Business
Downloads 497 (123,655)
Citation 19

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Multiple Unit Auction, Uniform auction, Discriminatory Auction, Treasury Auction, Repo Auction, Short Squeeze, Market Manipulation, Market Power

15.

Monetary Policy Implementation: A European Perspective

NHH Department of Finance & Management Science Discussion Paper No. 2007/10
Number of pages: 36 Posted: 12 Apr 2007
Ulrich Bindseil and Kjell G. Nyborg
European Central Bank (ECB) and University of Zurich - Department of Banking and Finance
Downloads 477 (129,851)
Citation 6

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16.

Financing and Corporate Growth Under Repeated Moral Hazard

Downloads 475 (130,527)

Financing and Corporate Growth Under Repeated Moral Hazard

IFA Working Paper No. 304
Number of pages: 37 Posted: 03 Aug 2000
Kjell G. Nyborg and Ronald W. Anderson
University of Zurich - Department of Banking and Finance and London School of Economics & Political Science - Department of Finance
Downloads 442 (141,140)

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Corporate growth, incomplete financial contracting, outside equity, debt, repeated moral hazard

Financing and Corporate Growth Under Repeated Moral Hazard

Number of pages: 39 Posted: 28 Aug 2001
Ronald W. Anderson and Kjell G. Nyborg
London School of Economics & Political Science - Department of Finance and University of Zurich - Department of Banking and Finance
Downloads 33 (1,029,761)
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Corporate growth, incomplete financial contracting, outside equity, debt, repeated moral hazard

17.

The Value of Tax Shields is Equal to the Present Value of Tax Shields: Further Remarks

Number of pages: 11 Posted: 02 Dec 2004
Ian A. Cooper and Kjell G. Nyborg
London Business School and University of Zurich - Department of Banking and Finance
Downloads 422 (150,204)
Citation 8

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Tax shields, leverage, adjusted present value

18.

The Price of Liquidity: Bank Characteristics and Market Conditions

Downloads 396 (161,450)
Citation 4

The Price of Liquidity: Bank Characteristics and Market Conditions

Swiss Finance Institute Research Paper No. 10-20
Number of pages: 54 Posted: 16 Jun 2010
Falko Fecht, Kjell G. Nyborg and Jörg Rocholl
Deutsche Bundesbank, University of Zurich - Department of Banking and Finance and ESMT European School of Management and Technology
Downloads 262 (249,889)

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banks, liquidity, money markets, repos, short squeezing, financial health

The Price of Liquidity: Bank Characteristics and Market Conditions

Number of pages: 51 Posted: 12 Apr 2010
Falko Fecht, Jörg Rocholl and Kjell G. Nyborg
Deutsche Bundesbank, ESMT European School of Management and Technology and University of Zurich - Department of Banking and Finance
Downloads 67 (743,566)
Citation 3

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banks, liquidity, money markets, repos, short squeezing, financial health

The Price of Liquidity: Bank Characteristics and Market Conditions

Bundesbank Series 1 Discussion Paper No. 2008,30
Number of pages: 72 Posted: 08 Jun 2016
Falko Fecht, Kjell G. Nyborg and Jörg Rocholl
Deutsche Bundesbank, University of Zurich - Department of Banking and Finance and ESMT European School of Management and Technology
Downloads 65 (755,374)
Citation 1

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liquidity, banking, squeezes, money markets, repo auctions

The Price of Liquidity: Bank Characteristics and Market Conditions

CEPR Discussion Paper No. DP7794
Number of pages: 54 Posted: 19 May 2010
Falko Fecht, Kjell G. Nyborg and Jörg Rocholl
Deutsche Bundesbank, University of Zurich - Department of Banking and Finance and ESMT European School of Management and Technology
Downloads 2 (1,385,043)
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banks, financial health, liquidity, money markets, repos, short squeezing

19.

Bank Bailout Menus

Downloads 382 (168,101)
Citation 20

Bank Bailout Menus

Swiss Finance Institute Research Paper No. 10-24
Number of pages: 47 Posted: 16 Jun 2010 Last Revised: 14 Jan 2013
Sudipto Bhattacharya and Kjell G. Nyborg
London School of Economics and University of Zurich - Department of Banking and Finance
Downloads 379 (168,068)
Citation 18

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Bailouts, Equity injections, Asset buyouts, Subsidies, Debt overhang, Private information, Self-selection, Screening, Constrained-optimality.

Bank Bailout Menus

CEPR Discussion Paper No. DP7906
Number of pages: 43 Posted: 19 Jul 2010
Sudipto Bhattacharya and Kjell G. Nyborg
London School of Economics and University of Zurich - Department of Banking and Finance
Downloads 3 (1,379,145)
Citation 2
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Bailouts, Debt overhang, Private information, Self-selection, Subsidies

20.

Robust difference-in-differences analysis when there is a term structure

Downloads 376 (171,131)

Robust difference-in-differences analysis when there is a term structure

Swiss Finance Institute Research Paper No. 24-03, Journal of Financial Economics, forthcoming
Number of pages: 81 Posted: 24 Jan 2024 Last Revised: 06 May 2025
Kjell G. Nyborg and Jiri Woschitz
University of Zurich - Department of Banking and Finance and BI Norwegian Business School
Downloads 268 (244,250)

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Fixed-income pricing, term structure, difference-in-differences, treatment effects, false effects, garbled measurement, matching

Robust difference-in-differences analysis when there is a term structure

Proceedings of the EUROFIDAI-ESSEC Paris December Finance Meeting 2023
Number of pages: 62 Posted: 26 Feb 2024 Last Revised: 27 Feb 2024
Kjell G. Nyborg and Jiri Woschitz
University of Zurich - Department of Banking and Finance and BI Norwegian Business School
Downloads 108 (549,148)

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21.

Repo Rates and the Collateral Spread Puzzle

Downloads 368 (175,279)
Citation 2

Repo Rates and the Collateral Spread Puzzle

Swiss Finance Institute Research Paper No. 19-04
Number of pages: 58 Posted: 19 Feb 2019 Last Revised: 22 Feb 2019
Kjell G. Nyborg
University of Zurich - Department of Banking and Finance
Downloads 364 (175,857)
Citation 2

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collateral spread, constrained-arbitrage, liquidity, market linkages, repo rate, unsecured rate, general collateral

Repo Rates and the Collateral Spread Puzzle

CEPR Discussion Paper No. DP13546
Number of pages: 59 Posted: 13 Mar 2019
Kjell G. Nyborg
University of Zurich - Department of Banking and Finance
Downloads 4 (1,372,023)
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collateral spread, constrained-arbitrage, general collateral, liquidity, market linkages, repo rate, unsecured rate

22.

Repo Rates and the Collateral Spread: Evidence

Downloads 294 (225,121)
Citation 2

Repo Rates and the Collateral Spread: Evidence

Swiss Finance Institute Research Paper No. 19-05
Number of pages: 48 Posted: 19 Feb 2019 Last Revised: 22 Feb 2019
Kjell G. Nyborg and Cornelia Rösler
University of Zurich - Department of Banking and Finance and University of Zurich
Downloads 290 (225,177)
Citation 2

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collateral spread, liquidity, unsecured rate, repo rate, general collateral, Eurex Repo

Repo Rates and the Collateral Spread: Evidence

CEPR Discussion Paper No. DP13547
Number of pages: 49 Posted: 13 Mar 2019
Kjell G. Nyborg and Cornelia Roesler
University of Zurich - Department of Banking and Finance and Accenture AG
Downloads 4 (1,372,023)
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collateral spread, Eurex Repo, general collateral, liquidity, repo rate, unsecured rate

23.

Underpricing and Market Power in Uniform Price Auctions

Downloads 280 (235,207)
Citation 5

Underpricing and Market Power in Uniform Price Auctions

London Business School, Institute of Finance and Accounting Working Paper No. IFA 260
Number of pages: 35 Posted: 25 May 2002
Ilan Kremer and Kjell G. Nyborg
Independent and University of Zurich - Department of Banking and Finance
Downloads 261 (250,849)
Citation 1

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Multiunit auctions, treasury auctions, uniform price auctions, underpricing, discreteness, rationing, supply uncertainty, market power

Underpricing and Market Power in Uniform Price Auctions

Number of pages: 38 Posted: 02 Jun 2004
Ilan Kremer and Kjell G. Nyborg
Independent and University of Zurich - Department of Banking and Finance
Downloads 19 (1,206,672)
Citation 4
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Discreteness, market power, multi-unit auctions, supply uncertainty, treasury auctions, uniform price auctions, underpricing

24.

Tax-Adjusted Discount Rates: A General Formula under Constant Leverage Ratios

Swiss Finance Institute Research Paper No. 11-17
Number of pages: 17 Posted: 08 May 2011
Peter Molnár and Kjell G. Nyborg
University of Stavanger and University of Zurich - Department of Banking and Finance
Downloads 246 (269,144)
Citation 2

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tax-adjusted discount rates, tax shields, risky debt, cost of debt, personal taxes, partial default

25.

Collateral and Short Squeezing of Liquidity in Fixed Rate Tenders

London Business School Working Paper No. IFA 329
Number of pages: 23 Posted: 09 May 2001
Kjell G. Nyborg and Ilya A. Strebulaev
University of Zurich - Department of Banking and Finance and Stanford University - Graduate School of Business
Downloads 239 (275,782)
Citation 6

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Short squeeze, collateral, fixed rate tender, liquidity

26.

LBO Valuation Using Flows to Equity

Swiss Finance Institute Research Paper No. 23-74
Number of pages: 11 Posted: 01 Sep 2023
Ian A. Cooper and Kjell G. Nyborg
London Business School and University of Zurich - Department of Banking and Finance
Downloads 225 (292,451)

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LBO modelling; Equity free cash flow; Hybrid flows; Discount rate; Leverage

27.

The Price of Money: How Collateral Policy Affects the Yield Curve

Swiss Finance Institute Research Paper No. 21-74
Number of pages: 69 Posted: 11 Nov 2021
Kjell G. Nyborg and Jiri Woschitz
University of Zurich - Department of Banking and Finance and BI Norwegian Business School
Downloads 213 (308,251)
Citation 3

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Yield curve, central bank, collateral policy, monetary policy, haircuts, repo, asset prices, liquidity, central-bank money, government bonds

28.

A Descriptive Analysis of the Finnish Treasury Bond Market 1991-1999

Bank of Finland Research Discussion Paper No. 16/2002
Number of pages: 30 Posted: 10 Oct 2007
Matti Keloharju, Markku Malkamäki, Kjell G. Nyborg and Kristian Rydqvist
Aalto University - School of Business, Evli Bank Plc, University of Zurich - Department of Banking and Finance and State University of New York at Binghamton - School of Management
Downloads 182 (356,635)
Citation 4

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treasury bond auctions, secondary market

29.

The Price of Money: The Reserves Convertibility Premium over the Term Structure

Swiss Finance Institute Research Paper No. 24-17
Number of pages: 69 Posted: 23 Feb 2024
Kjell G. Nyborg and Jiri Woschitz
University of Zurich - Department of Banking and Finance and BI Norwegian Business School
Downloads 173 (373,094)

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central bank, reserves, convertibility premium, liquidity premium, term structure, yield curve, collateral policy, haircut

30.

The Collateral Spread Puzzle: Why Do Repo Rates Often Exceed Unsecured Rates?

Swiss Finance Institute Research Paper No. 24-37
Number of pages: 58 Posted: 08 Jul 2024
Kjell G. Nyborg
University of Zurich - Department of Banking and Finance
Downloads 134 (461,768)

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liquidity, repo, collateral spread, trilateral linkage, liquidity premium, general collateral, financial stress, G12, G13, G21, E43, E58

31.

The Price of Liquidity: The Effects of Market Conditions and Bank Characteristics

ECB Working Paper No. 1376
Number of pages: 54 Posted: 02 Sep 2011
Falko Fecht, Kjell G. Nyborg and Jörg Rocholl
Deutsche Bundesbank, University of Zurich - Department of Banking and Finance and ESMT European School of Management and Technology
Downloads 131 (470,272)
Citation 3

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Banks, liquidity, money markets, repos, imbalance

32.

Bank Supervision after the Financial Crisis: Signals from the Market for Liquidity

NHH Dept. of Business and Management Science Discussion Paper No. 2015/14
Number of pages: 13 Posted: 11 Apr 2015
Kjell G. Nyborg
University of Zurich - Department of Banking and Finance
Downloads 97 (588,287)

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Bank Supervision, Financial Crisis, Market for Liquidity

33.

Strategic Behaviour and Underpricing in Uniform Price Auctions: Evidence from Finnish Treasury Auctions

Number of pages: 45 Posted: 19 Nov 2002
Matti Keloharju, Kjell G. Nyborg and Kristian Rydqvist
Aalto University - School of Business, University of Zurich - Department of Banking and Finance and State University of New York at Binghamton - School of Management
Downloads 26 (1,082,047)
Citation 5
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Multiunit auctions, uniform price, treasury auctions, market power, demand functions, underpricing, supply uncertainty, seller behaviour

34.

Tax-Adjusted Discount Rates: A General Formula Under Constant Leverage Ratios

CEPR Discussion Paper No. DP8330
Number of pages: 15 Posted: 18 Apr 2011
Peter Molnár and Kjell G. Nyborg
affiliation not provided to SSRN and University of Zurich - Department of Banking and Finance
Downloads 7 (1,297,081)
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cost of debt, partial default, personal taxes, risky debt, tax shields, tax-adjusted discount rates

35.

Bidder Behavior in Multi-Unit Auctions - Evidence from Swedish Treasury Auctions

Posted: 27 Aug 2001
Kjell G. Nyborg, Kristian Rydqvist and Suresh M. Sundaresan
University of Zurich - Department of Banking and Finance, State University of New York at Binghamton - School of Management and Columbia University - Columbia Business School, Finance

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36.

Discriminatory Versus Uniform Treasury Auctions

London Business School Institute of Finance and Accounting Working Paper 198
Posted: 29 Aug 1998
Kjell G. Nyborg and Suresh M. Sundaresan
University of Zurich - Department of Banking and Finance and Columbia University - Columbia Business School, Finance

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37.

A Comparison of Us, UK and German Insolvency Codes

London Business School Institute of Finance and Accounting Working Paper 206
Posted: 09 Jul 1998
Kjell G. Nyborg, Julian R. Franks and Walter N. Torous
University of Zurich - Department of Banking and Finance, London Business School - Institute of Finance and Accounting and Massachusetts Institute of Technology

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38.

Convertible Debt as Delayed Equity: Forced Versus Voluntary Conversion and the Information Role of Call Policy

J. OF FINANCIAL INTERMEDIATION, Vol. 4 No. 4, 1995
Posted: 08 Jul 1998
Kjell G. Nyborg
University of Zurich - Department of Banking and Finance

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39.

Control Rights, Debt Structure, and the Loss of Private Benefits: The Case of the UK Insolvency Code

REVIEW OF FINANCIAL STUDIES, Vol. 9 No. 4
Posted: 27 Apr 1998
Julian R. Franks and Kjell G. Nyborg
London Business School - Institute of Finance and Accounting and University of Zurich - Department of Banking and Finance

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Other Papers (1)

Total Downloads: 63
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1.

The Price of Liquidity: Bank Characteristics and Market Conditions

EFA 2008 Athens Meetings Paper
Number of pages: 49 Posted: 03 Mar 2008
Falko Fecht, Kjell G. Nyborg and Jörg Rocholl
Deutsche Bundesbank, University of Zurich - Department of Banking and Finance and ESMT European School of Management and Technology
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Abstract:

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Liquidity, Banking, Short Squeezes, Money Markets, Repo Auctions