Ivy Profile

Academic History

• Ph.D., Economics, Washington University- St. Louis, 2004

• M.S., Economics, University of Kentucky, 1999

• B.A., Economics, Transylvania University, 1996

Expertise

• Financing R&D and Innovation

• Law and Finance

• Financial Markets and Economic Performance

• Corporate Liquidity Management and Investment Volatility

• Private Equity and Entrepreneurial Finance

Awards

Selected Publications

• Brown, J. R., Martinsson, G., & Petersen, B. C. (2023) "The Growth of Finance is Not Remarkable", Journal of Financial and Quantitative Analysis, 58 (6):2553-2578. Link to Paper

• Brown, J. R., Martinsson, G., & Thomann, C. (2022) "Can Environmental Policy Encourage Technical Change? Emissions Taxes and R&D Investment in Polluting Firms", Review of Financial Studies, 35 (10):4518–4560. Link to Paper

• Brown, J. R., Martinsson, G., & Thomann, C. (2021) "Government Lending in a Crisis", Journal of Corporate Finance, 71Link to Paper

• Brown, J. R., Gustafson, M. T., & Ivanov, I. T. (2021) "Weathering Cash Flow Shocks", Journal of Finance, 6 (4):1731-1772. Link to Paper ,

• Brown, J. R., Carpenter, R. E., & Petersen, B. C. (2019) "The Temporary Shutdown Decision: Lessons from the Great Recession", Managerial and Decision Economics, 40 (7):772-786. Link to Paper

• Brown, J. R., Cookson, J. A., & Heimer, R. Z. (2019) "Growing Up Without Finance", Journal of Financial Economics, 134 (3):591-616. Link to Paper

• Brown, J. R., & Martinsson, G. (2019) "Does Transparency Stifle or Facilitate Innovation?", Management Science, 65 (4):1600-1623. Link to Paper

• Brown, J. R., Cookson, J. A., & Heimer, R. Z. (2017) "Law and Finance Matter: Lessons from Externally Imposed Courts", Review of Financial Studies, 30 (3):1019-1051. Link to Paper

• Brown, J. R., Cookson, J. A., & Heimer, R. Z. (2017) "Courting Economic Development", 30:S176-S187. Link to Paper

• Brown, J. R., Martinsson, G., & Petersen, B. C. (2017) "Stock Markets, Credit Markets, and Technology-Led Growth", Journal of Financial Intermediation, 32:45-59. Link to Paper

• Brown, J. R., Martinsson, G., & Petersen, B. C. (2017) "What Promotes R&D? Comparative Evidence from Around the World", Research Policy, 46 (2):447-462. Link to Paper

• Brown, J. R., & Petersen, B. C. (2015) "Which Investments Do Firms Protect? Liquidity Management and Real Adjustments When Access to Finance Declines Sharply", Journal of Financial Intermediation, 24 (4):441-465. Link to Paper

• Brown, J. R., Martinsson, G., & Petersen, B. C. (2012) "Do Financing Constraints Matter for R&D?", European Economic Review, 56:1512-1529. Link to Paper

• Brown, J. R., Martinsson, G., & Petersen, B. C. (2013) "Law, Stock Markets, and Innovation", Journal of Finance, 68 (4):1517-1549. Link to Paper

• Borisova, G., & Brown, J. R. (2013) "R&D sensitivity to asset sale proceeds: New evidence on financing constraints and intangible investment", Journal of Banking and Finance, 37 (1):159-173. Link to Paper

• Brown, J. R., & Floros, I. V. (2012) "Access to Private Equity and Real Firm Activity: Evidence from PIPEs", Journal of Corporate Finance, 18 (1):151-165. Link to Paper

• Brown, J. R., & Petersen, B. C. (2011) "Cash Holdings and R&D Smoothing", Journal of Corporate Finance, 17 (3)Link to Paper

• Brown, J. R., Falaschetti, D., & Orlando, M. J. (2010) "Auditor Independence and the Quality of Information in Financial Disclosures: Evidence for Market Discipline vs. Sarbanes-Oxley Proscriptions", American Law and Economics Review, 12 (1):39-68. Link to Paper

• Brown, J. R., & Petersen, B. C. (2010) "Public Entrants, Public Equity Finance and Creative Destruction", Journal of Banking and Finance, 34 (5):1077-1088. Link to Paper

• Brown, J. R., & Petersen, B. C. (2009) "Why Has the Investment-Cash Flow Sensitivity Declined so Sharply? Rising R&D and Equity Market Developments", Journal of Banking and Finance, 33 (5):971-984. Link to Paper

• Brown, J. R., Lax, L. C., & Petersen, B. C. (2010) "Financial Market Crises and Natural Resource Production", 10 (1):93-124. Link to Paper

• Brown, J. R., Fazzari, S. M., & Petersen, B. C. (2009) "Financing Innovation and Growth: Cash Flow, External Equity and the 1990s R&D Boom", Journal of Finance, 64 (1):151-185. Link to Paper

• Brown, J.R. (2005) "Venture Capital and Firm Performance over the Long-Run: Evidence from High-Tech IPOs in the United States", 10 (3):1-33. Link to Paper