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

SCHOLARLY PAPERS

36

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12,522

CITATIONS
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320

Scholarly Papers (36)

1.
Downloads 1,429 ( 12,431)
Citation 4

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 1,429 (12,183)

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Valuing the Debt Tax Shield

Journal of Applied Corporate Finance, Vol. 19, No. 2, Spring 2007
Posted: 13 Apr 2007
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, APV, WACC, capital cash flow

2.

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 1,394 (12,960)
Citation 4

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

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 604 (42,657)
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 603 (42,746)
Citation 1

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

4.

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 789 (30,132)

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5.
Downloads 763 ( 31,584)
Citation 11

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 760 (31,253)
Citation 5

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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 3 (655,468)
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banks, central bank, collateral, ECB, Eurosystem, financial system, guarantees, haircuts, liquidity, monetary policy, monetary system, money, ratings

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 725 (33,331)

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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
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cascades, cash holdings, feedback, information, Stock liquidity

7.
Downloads 646 ( 39,499)
Citation 15

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 636 (39,753)
Citation 2

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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 (603,555)
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interbank and financial markets, liquidity, liquidity pull-back, money

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

AFA 2003 Washington, DC Meetings; EFA 2002 Berlin Meetings Presented Paper; ECB Working Paper No. 157
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 371 (78,250)

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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 202 (149,322)
Citation 15

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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

CEPR Discussion Paper No. 4367
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 (505,534)
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Multiunit auctions, reserve requirements, loser's nightmare, money markets, collateral, repo auctions, central bank, open market operations

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 of Banking and Finance and University of Zurich - Department of Banking and Finance
Downloads 540 (49,316)

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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 of Banking and Finance and University of Zurich - Department of Banking and Finance
Downloads 2 (666,657)
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DCF, finance education, multiples, sociological hypothesis, Valuation, valuation cultures

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 495 (55,087)
Citation 5

Abstract:

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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 46 (407,431)
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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

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 526 (51,018)
Citation 4

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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 2 (666,657)
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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

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 402 (71,238)

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

Financing and Corporate Growth Under Repeated Moral Hazard

CEPR Discussion Paper No. 2920
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 31 (472,069)
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Corporate growth, incomplete financial contracting, outside equity, debt, repeated moral hazard

13.

Multiple Unit Auctions and Short Squeezes

FEEM Working Paper No. 27.2003; EFA 2002 Berlin Meetings Presented Paper; IFA Working Paper No. 328
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 418 (68,577)
Citation 5

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

14.

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 351 (84,175)
Citation 5

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15.

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 302 (99,457)
Citation 1

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Tax shields, leverage, adjusted present value

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
Frankfurt School of Finance & Management, University of Zurich - Department of Banking and Finance and ESMT European School of Management and Technology
Downloads 214 (141,337)
Citation 2

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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
Frankfurt School of Finance & Management, ESMT European School of Management and Technology and University of Zurich - Department of Banking and Finance
Downloads 44 (415,028)
Citation 2

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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
Frankfurt School of Finance & Management, University of Zurich - Department of Banking and Finance and ESMT European School of Management and Technology
Downloads 22 (524,273)

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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
Frankfurt School of Finance & Management, University of Zurich - Department of Banking and Finance and ESMT European School of Management and Technology
Downloads 2 (666,657)
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banks, financial health, liquidity, money markets, repos, short squeezing

17.
Downloads 274 (110,509)
Citation 4

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
Frankfurt School of Finance & Management, University of Zurich - Department of Banking and Finance, ESMT European School of Management and Technology and University of Zurich
Downloads 274 (109,951)
Citation 4

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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
Frankfurt School of Finance & Management, University of Zurich - Department of Banking and Finance, ESMT European School of Management and Technology and University of Zurich
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banks, central bank, Collateral, collateral policy, financial fragmentation, financial stability, interbank market, liquidity, repo, systemic arbitrage

18.
Downloads 269 (112,627)
Citation 12

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 266 (113,377)
Citation 8

Abstract:

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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 (655,468)
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Bailouts, Debt overhang, Private information, Self-selection, Subsidies

19.
Downloads 201 (150,214)
Citation 31

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 186 (161,336)
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

CEPR Discussion Paper No. 4363
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 15 (569,486)
Citation 2
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Discreteness, market power, multi-unit auctions, supply uncertainty, treasury auctions, uniform price auctions, underpricing

20.

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 191 (157,513)
Citation 1

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Short squeeze, collateral, fixed rate tender, liquidity

21.

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 161 (183,125)
Citation 2

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

22.

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
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 110 (246,830)
Citation 3

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treasury bond auctions, secondary market

23.

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
Frankfurt School of Finance & Management, University of Zurich - Department of Banking and Finance and ESMT European School of Management and Technology
Downloads 80 (303,515)

Abstract:

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Banks, liquidity, money markets, repos, imbalance

24.
Downloads 77 (310,422)
Citation 1

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 76 (316,002)

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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 1 (681,101)
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collateral spread, constrained-arbitrage, general collateral, liquidity, market linkages, repo rate, unsecured rate

Corporate Cash Holdings: Stock Liquidity and the Repurchase Motive

Swiss Finance Institute Research Paper No. 19-30
Number of pages: 59 Posted: 03 Jun 2019 Last Revised: 17 Jun 2019
Kjell G. Nyborg and Zexi Wang
University of Zurich - Department of Banking and Finance and Lancaster University
Downloads 72 (326,034)

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Corporate cash holdings, Stock liquidity, Repurchases

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 1 (681,101)
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corporate cash holdings, Repurchases, Stock liquidity

26.
Downloads 59 (357,706)
Citation 1

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 58 (365,992)
Citation 1

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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 1 (681,101)
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collateral spread, Eurex Repo, general collateral, liquidity, repo rate, unsecured rate

27.

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 49 (389,626)

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Bank Supervision, Financial Crisis, Market for Liquidity

28.

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

CEPR Discussion Paper No. 3586
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 22 (507,582)
Citation 2
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Multiunit auctions, uniform price, treasury auctions, market power, demand functions, underpricing, supply uncertainty, seller behaviour

29.

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 5 (611,391)
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cost of debt, partial default, personal taxes, risky debt, tax shields, tax-adjusted discount rates

30.

Consistent Valuation of Project Finance and LBOs Using the Flows‐To‐Equity Method

European Financial Management, Vol. 24, Issue 1, pp. 34-52, 2018
Number of pages: 19 Posted: 19 Jan 2018
Ian A. Cooper and Kjell G. Nyborg
London Business School and University of Zurich - Department of Banking and Finance
Downloads 2 (636,219)
Citation 1
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cost of debt, cost of equity, equity cash flow, flows to equity, LBO, project finance, valuation

31.

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

European Financial Management, Vol. 19, Issue 3, pp. 419-428, 2013
Number of pages: 10 Posted: 05 Jun 2013
Peter Molnár and Kjell G. Nyborg
University of Stavanger and University of Zurich - Department of Banking and Finance
Downloads 1 (648,804)
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tax‐adjusted discount rates, tax shields, risky debt, cost of debt, personal taxes, partial default

32.

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

Journal of Political Economy, Vol. 110, April 2002
Posted: 27 Aug 2001
University of Zurich - Department of Banking and Finance, State University of New York at Binghamton - School of Management and Columbia Business School - Finance and Economics

Abstract:

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33.

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 Business School - Finance and Economics

Abstract:

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34.

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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35.

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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36.

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

Abstract:

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Other Papers (1)

Total Downloads: 21
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
Frankfurt School of Finance & Management, University of Zurich - Department of Banking and Finance and ESMT European School of Management and Technology
Downloads 21

Abstract:

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