Nyborg, Kjell G.

E-mail:

Kjell.Nyborg@nhh.no

Telephone:

+47 55 95 92 87

Fax:

+47 55 95 96 50

Title:

Professor

Education:

Ph.D. Finance, 1990, Stanford University
S.B. Mathematics, 1984, University of Chicago

Nationality:

Norwegian
Curriculum Vitae

Teaching languages:

Norwegian, English

Teaching areas:

Finance

Research Interests:

Multiunit auctions (particularly in financial markets); finance and taxes; financing and corporate growth; corporate finance; convertible bonds; banking.

Selected publications:

• “Tax-adjusted discount rates with investor taxes and risky debt” (with Ian Cooper), Financial Management, 37(2), 2008, 365-379.

• “Liquidity management and overnight rate calendar effects: Evidence from German banks”, North American Journal of Economics & Finance; 19(1), 2008, 7-21 (with Falko Fecht and Jörg Rocholl).

• Monetary Policy Implementation, in Handbook of European Financial Markets and Institutions (Edited by Xavier Freixas, Philipp Hartmann and Colin Mayer), Oxford University Press, 2008, 742-778 (with Ulrich Bindseil).

• “Valuing the Debt Tax Shield” (with Ian Cooper), Journal of Applied Corporate Finance, 19(2), 2007, 50-59.

• “The Value of Tax Shields IS Equal to the Present Value of Tax Shields” (with Ian Cooper), Journal of Financial Economics 81(1), 2006, 215-225.

• “Strategic Behavior and Underpricing in Uniform Price Auctions: Evidence from Finnish Treasury Auctions” (with Matti Keloharju and Kristian Rydqvist), 2005, Journal of Finance, 60(4), 1865-1902.

• “Underpricing and Market Power in Uniform Price Auctions” (with Ilan Kremer), 2004, Review of Financial Studies 17(3), 849-877.

• “Multiple Unit Auctions and Short Squeezes” (with Ilya A. Strebulaev), 2004, Review of Financial Studies 17(2), 545-580.

• “Divisible Good Auctions: The Role of Allocation Rules” (with Ilan Kremer), 2004, RAND Journal of Economics 35(1), 147-159.

• “Bidder Behavior in Multiunit Auctions: Evidence from Swedish Treasury Auctions” (with Kristian Rydqvist and Suresh Sundaresan), 2002, Journal of Political Economy 110(2), 394-424.

• “A Descriptive Analysis of the Finnish Treasury Bond Market 1991-1999” (with Matti Keloharju, Markku Malkamäki, and Kristian Rydqvist), 2002, Finnish Journal of Business Economics 51(3), 259-279.

• “Agency and the Pace of Adoption of New Techniques” (with Ronald W. Anderson), 2002, Louvain Economic Review 68(1-2), 203-220.

• “Collateral and Short Squeezing of Liquidity in Fixed Rate Tenders” (with Ilya A. Strebulaev), 2001, Journal of International Money and Finance 20(6), 769-792.

• “Cross Holdings in Germany: Comment” 1999, Journal of Institutional and Theoretical Economics 155(1), 113-118.

• “A Comparison of US, UK, and German Insolvency Codes” (with Julian Franks and Walter Torous), 1996, Financial Management 25(3), 86-101.

• “Control Rights, Debt Structure and the Loss of Private Benefits: The Case of the UK Insolvency Code” (with Julian Franks), 1996, Review of Financial Studies 9(4), 1165-1210.

• “Discriminatory versus Uniform Treasury Auctions: Evidence from When-Issued Transactions” (with Suresh Sundaresan), 1996, Journal of Financial Economics 42(1), 63-104.

• “The Use and Pricing of Convertible Bonds” 1996, Applied Mathematical Finance 3(3), 167-190.

• “Convertible Debt as Delayed Equity: Forced versus Voluntary Conversion and the Information Role of Call Policy” 1995, Journal of Financial Intermediation 4(4), 358-395.