Stephen J. Brown

Stephen J. Brown

Joined Stern 1986

Leonard N. Stern School of Business
Kaufman Management Center
44 West Fourth Street, KMC 9-89
New York, NY 10012

Personal website


Stephen Brown is Emeritus Professor of Finance at New York University Stern School of Business. Professor Brown teaches courses in financial markets, financial economics and investment philosophies in real estate.

Professor Brown has been with NYU Stern since 1986. His primary research areas of interest include hedge funds, mutual funds, Japanese equity markets, empirical finance and asset allocation and investment management. Professor Brown has written numerous articles that have appeared in publications including Journal of Finance, Econometrica, Journal of Financial Economics, Review of Financial Studies, Journal of Financial and Quantitative Analysis and Journal of Business. He is the author of five books, two of which have been translated into Japanese. In addition to his research, Professor Brown has been recognized for his excellence in teaching and received the NYU Stern Excellence in Teaching Award in 2000.

Professor Brown received his Bachelor of Economics from Monash University in Australia and his Master of Business Administration and Doctor of Philosophy in finance from the University of Chicago.

Research Interests

  • Empirical Finance
  • Asset Pricing Theory
  • Performance Measurement
  • Japanese Equity Markets

Courses Taught

  • Financial Theory II
  • Foundations of Financial Markets

Academic Background

Ph.D., Finance, 1976
University of Chicago

M.B.A., Business, 1974
University of Chicago

B.E.C., Economics, 1971
Monash (Australia)

Areas of Expertise


  • Asset Management
  • Derivatives
  • Hedge Funds
  • Mutual Funds/Pensions


  • Japan