University of Essex

Academic Staff

Dr Norvald Instefjord

Position in departmentPersonal Tutor
Staff positionReader in Finance
Telephone01206 874160
RoomEBS 3.24

Sivilokonom, Sivilokonom HAE; (Norwegian School of Economics); PhD (London Business School)

Research interests

Corporate finance, banking and regulation, and financial markets and market microstructure. Almost all my research is theory-based, although I have done empirical research jointly with students.

Teaching responsibilities


Publications since 2005:

A Contingent Claims Analysis of Optimal Investment Subsidy, (with Vivek Nawosah and Pei Yang, forthcoming) Journal of Economic Dynamics and Control 2016.

Investor Participation and Underpricing in Lottery-Allocated Chinese IPOs (with Jerry Coakley and Zhe Shen), Pacific-Basin Finance Journal 2013.

Corporate Governance and the Cost of Borrowing (with Pascal Frantz), Journal of Business Finance and Accounting 2013.

Executive Compensation: A Model of Disclosure Choice (with Pascal Frantz and Martin Walker), Journal of Business Finance and Accounting 2013.

Earnings Management and IPO Anomalies in China (with Jerry Coakley and Zhe Shen), Review of Quantitative Finance and Accounting 2013.

Large Shareholders and Corporate Governance (with Pascal Frantz), Economics of Governance 2009.

Informational leverage: the problem of noise traders (with Kouji Sasaki): Annals of Finance 2008.

Socially and Privately Optimal Shareholder Activism (with Pascal Frantz) Journal of Management and Governance 2007.

Proprietary trading losses in banks: do banks invest sufficiently in control? (with Kouji Sasaki), Annals of Finance, 2007.

Voluntary Disclosure of Information in a Setting in which Endowment of Information has Productive Value (with Pascal Frantz), Journal of Business Finance and Accounting 2006.

Forecasting risk, informed speculation, and financial innovation, Journal of Financial Intermediation 2006.

Risk and hedging: do credit derivatives increase bank risk? Journal of Banking and Finance 2005.

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