Department of Finance

  • Center for Financial Frictions
  • Center for Statistics
Mads Stenbo
Associate professor
Center for Statistics, Center for Financial Frictions (FRIC)

Room: SOL/A4.28

Mads Stenbo Nielsen holds a M.Sc. in Statistics from University of Copenhagen and a Ph.D. in Finance from Copenhagen Business School. His research interests include the interaction between business cycle and credit risk, corporate capital structure, and default correlation modeling. His research has been published in Journal of Financial Intermediation and Journal of Financial Econometrics.


Primary research areas
  • Credit risk
  • Corporate bonds
Administrative tasks

Link to this homepage
  • Statistics
  • Introductory Finance
  • Term Structure Theory

B.Sc. and M.Sc. theses

Other teaching activities

Selected publications
  • Lando, D. & Nielsen, M.S. (2010). Correlation in corporate defaults: Contagion or conditional independence? Journal of Financial Intermediation 19, 355-372
  • Feldhütter, P. & Nielsen, M.S. (2012). Systematic and Idiosyncratic Default Risk in Synthetic Credit Markets. Journal of Financial Econometrics 10, 292-324
Publications sorted by:
Frank J. Fabozzi; Sven Klingler; Pia Mølgaard; Mads Stenbo Nielsen / Active Loan Trading
København : Danmarks Nationalbank 2018, 45 p. (Danmarks Nationalbank. Working Papers, No. 127)
Working paper
Ken L. Bechmann; Mads Stenbo Nielsen / Investeringer i fossile selskaber og strandede aktiver
In: Finans/Invest, No. 2, 4.2017, p. 15-22
Journal article > peer review
Stine Louise Daetz; Jens Dick-Nielsen; Mads Stenbo Nielsen / The Value of Bond Underwriter Relationships
Paper presented at The 15th International Paris December Finance Meeting, 2017
Paper > peer review
Ken L. Bechmann; Mads Stenbo Nielsen / Formidlingsprovision og performance af danske investeringsfonde
In: Finans/Invest, No. 1, 2016, p. 5-11
Journal article > peer review
David Lando; Mamdouh Medhat; Mads Stenbo Nielsen; Søren Feodor Nielsen / Additive Intensity Regression Models in Corporate Default Analysis
In: Journal of Financial Econometrics, Vol. 11, No. 3, 6.2013, p. 443-485
Journal article > peer review
Mads Stenbo Nielsen / Credit Spreads Across the Business Cycle
Paper presented at The 39th European Finance Association Annual Meeting (EFA 2012), 2012
Paper > peer review
Peter Feldhütter; Mads Stenbo Nielsen / Systematic and Idiosyncratic Default Risk in Synthetic Credit Markets
In: Journal of Financial Econometrics, Vol. 10, No. 2, 2012, p. 292-324
Journal article > peer review
Mads Stenbo Nielsen / Essays on Correlation Modelling
Frederiksberg : Copenhagen Business School [Phd] 2011, 186 p. (PhD series, No. 31.2011)
Ph.D. thesis
David Lando; Mads Stenbo Nielsen / Correlation in Corporate Defaults : Contagion or Conditional Independence?.
In: Journal of Financial Intermediation, Vol. 19, No. 3, 2010, p. 355-372
Journal article > peer review
Academic Interests

Research Projects
Outside activities
  • Economical censor
  • Mathematical censor
  • Portfolio manager at BankInvest, initiating August 2019