Ivy Profile

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James R. Brown

Title: Debbie and Jerry Ivy Chair in Business / Professor
Department: Finance
Office: 2333 Gerdin

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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

MBA Executive Advisory Council Teaching Excellence Award 2022
Dean's Council Outstanding Achievement in Research 2020
Mid-career Achievement in Research 2018
MBA Executive Advisory Council Teaching Excellence Award 2016
Best Paper in Financial Markets, Financial Management Association Annual Meeting 2015
Faculty Research Award 2017
Faculty Research Award 2013
Dean's Advisory Council Faculty Research Award 2010

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