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Prof. Dr. Kjell G. Nyborg - Publications

Deputy Head of Department of Banking and Finance, Professor of Finance

@grobyn.llejkbf.uzh.ch
PLM-H 304, Plattenstr. 14, 8032 Zürich
+41 44 634 29 80
CV vCard Details Team Teaching Publications Supervised theses Conferences

Journal Articles (22)

Consistent valuation of project finance and LBOs using the flows-to-equity method
Ian Cooper, Kjell G. Nyborg
In: European Financial Management, forthcoming, 2017.


Central bank collateral frameworks
Kjell G. Nyborg
In: Journal of Banking and Finance, Vol. 76, p. 198-214, March 2017.


Money and liquidity in financial markets
Kjell G. Nyborg, Per Östberg
In: Journal of Financial Economics, Vol. 112 (No. 1), p. 30-52, May 2014.


Tax-adjusted discount rates: a general formula under constant leverage ratios tax-adjusted discount rates
Peter Molnár, Kjell G. Nyborg
In: European Financial Management, Vol. 19 (No. 3), p. 419-428, July 2013.


Bank bailout menus
Sudipto Bhattacharya, Kjell G. Nyborg
In: Review of Corporate Finance Studies, Vol. 2 (No. 1), p. 29-61, 2013.


The price of liquidity: The effects of market conditions and bank characteristics
Falko Fecht, Kjell G. Nyborg, Jörg Rocholl
In: Journal of Financial Economics, Vol. 102 (No. 2), p. 344-362, November 2011.


Financing and growth under repeated moral hazard
Ronald W Anderson, Kjell G. Nyborg
In: Journal of Financial Intermediation, Vol. 20 (No. 1), p. 1-24, 2011.


Repo auctions and the market for liquidity
Ulrich Bindseil, Kjell G. Nyborg, Ilya A Strebulaev
In: Journal of Money, Credit and Banking, Vol. 41 (No. 7), p. 1391-1421, October 2009.


Liquidity management and overnight rate calendar effects: Evidence from German banks
Falko Fecht, Kjell G. Nyborg, Jörg Rocholl
In: North American Journal of Economics and Finance, Vol. 19 (No. 1), p. 7-21, March 2008.


Tax-adjusted discount rates with investor taxes and risky debt
Ian Cooper, Kjell G. Nyborg
In: Financial Management, Vol. 37 (No. 2), p. 365-379, January 2008.


Valuing the Debt Tax Shield
Ian Cooper, Kjell G. Nyborg
In: Journal of Applied Corporate Finance, Vol. 19 (No. 2), p. 30-39, 2007.


The value of tax shields IS equal to the present value of tax shields
Ian Cooper, Kjell G. Nyborg
In: Journal of Financial Economics, Vol. 81 (No. 1), p. 215-225, 2006.


Strategic behavior and underpricing in uniform price auctions: Evidence from finnish treasury auctions
Matti Keloharju, Kjell G. Nyborg, Kristian Rydqvist
In: Journal of Finance, Vol. 60 (No. 4), p. 1865-1902, January 2005.


Divisible good auctions: the role of allocation rules
Ilan Kremer, Kjell G. Nyborg
In: Rand Journal of Economics, Vol. 35 (No. 1), p. 147-159, April 2004.


Underpricing and market power in uniform price auctions
Ilan Kremer, Kjell G. Nyborg
In: Review of Financial Studies, Vol. 17 (No. 3), p. 849-877, 2004.


Multiple Unit Auctions and Short Squeezes
Kjell G. Nyborg, Ilya A Strebulaev
In: Review of Financial Studies, Vol. 17 (No. 2), p. 545-580, August 2003.


Bidder Behavior in Multiunit Auctions: Evidencefrom Swedish Treasury Auctions
Kjell G. Nyborg, Kristian Rydqvist, Suresh M Sundaresan
In: The Journal of Political Economy, Vol. 110 (No. 2), p. 394-424, January 2002.


Agency and the pace of adoption of new techniques
Ronald W Anderson, Kjell G. Nyborg
In: Recherches Economiques de Louvain, Vol. 68 (No. 1), p. 203-220, 2002.


Collateral and short squeezing of liquidity in fixed rate tenders
Kjell G. Nyborg, Ilya A Strebulaev
In: Journal of International Money and Finance, Vol. 20 (No. 6), p. 769-792, November 2001.


Cross holdings in Germany: comment
Kjell G. Nyborg
In: Journal of Institutional and Theoretical Economics, Vol. 155 (No. 1), p. 113-118, 1999.


Discriminatory versus uniform Treasury auctions: Evidence from when-issued transactions
Kjell G. Nyborg, Suresh M Sundaresan
In: Journal of Financial Economics, Vol. 42 (No. 1), p. 63-104, 1996.


A Comparison of US, UK, and German Insolvency Codes
Julian Franks, Kjell G. Nyborg, Walter Torous
In: Financial Management, Vol. 25 (No. 3), p. 86-101, 1996.


Books (1)

Collateral frameworks: The open secret of central banks
Kjell G. Nyborg
Cambridge University Press, Cambridge, 2016.


Book Chapters (1)

Monetary Policy Implementation
Kjell G. Nyborg, Ulrich Bindseil
Editor(s): Xavier Freixas, Philipp Hartmann
In: Handbook of European Financial Markets and Institutions, Oxford University Press, Cambridge, p. 742-778, 2008.


Working Papers (5)

The Choice of Valuation Techniques in Practice: Education versus Profession
Kjell G. Nyborg, Lilia Mukhlynina
Swiss Finance Institute Research Paper No. 16-36, No. 16-36, April 2016.


Central Bank Collateral Frameworks
Kjell G. Nyborg
Swiss Finance Institute Research Paper Series, No. 15-10, March 2015.


Stock Liquidity and Corporate Cash Holdings: Feedback and the Cash as Ammunition Hypothesis
Kjell G. Nyborg, Zexi Wang
Swiss Finance Institute Research Paper, No. 13-36, June 2013.


Money and liquidity in financial markets
Kjell G. Nyborg, Per Östberg
Swiss Finance Institute Research Paper, No. 10-25, 2010.


A Descriptive Analysis of the Finnish Treasury Bond Market 1991-1999
Kjell G. Nyborg, Matti Keloharju, Markku Malkamäki, Kristian Rydqvist
Bank of Finland Research Discussion, No. 16, January 2002.


Other research output (4)

Newspaper articles (3)

Collateral Policy - Central Banking's Powerful Secret Ingredient
Kjell G. Nyborg
International Banker, 1 June 2017.


Das offene Geheimnis der Zentralbanken
Kjell G. Nyborg
NZZ, 26 January 2017.


Stabilisierung der Euro-Zone durch Besicherung von Bonds
Kjell G. Nyborg
Neue Zürcher Zeitung, 16 August 2011.


Media coverage (6)

Das offene Geheimnis der Zentralbanken
Concerns: Kjell G. Nyborg
SFI Blog, 26 June 2017.


Wie ein Müllschlucker
Concerns: Kjell G. Nyborg
WirtschaftsWoche, 16 June 2017.


Collateral Frameworks: The Open Secret of Central Banks
Concerns: Kjell G. Nyborg
Wallstreet online, 24 January 2017.


The Choice of Valuation Techniques in Practice: Education versus Profession
Concerns: Kjell G. Nyborg
SFI Blog, 4 November 2016.


Le pragmatisme dans la valorisation
Concerns: Kjell G. Nyborg
L'Agefi, 3 November 2016.


La BNS se dit rassurée par les nouvelles tendances immobilières
Concerns: Kjell G. Nyborg
Le temps, 13 October 2016.