1978 …2020

Research output per year

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Personal profile


Professor Stephen Brown is in the Department of Banking and Finance in the Monash Business School.

Stephen joined the Monash Business School on 1 January 2016. Appointed on a 0.4 basis, he will spend four months each year at the Monash Business School while transitioning as Emeritus Professor at New York University Stern School of Business. Before joining New York University in 1986 Stephen worked at Bell Telephone Laboratories during which he spent time on assignment as District Manager at the ATandT Pension Fund, as well as Yale University where he was Associate Professor of Finance. He is a member of CFA Society Melbourne and the New York Society of Security Analysts (NYSSA).

He has published widely in a range of high quality journals, including Econometrica, the Journal of Finance, the Journal of Financial Economics, the Journal of Financial and Quantitative Analysis, theReview of Financial Studies, and the Journal of Business. He is the author of five books, two of which have been translated into Japanese. As well as serving on a number of editorial boards, Stephen was a founding editor of the Review of Financial Studies (A*) and has just stepped down as Managing Editor of the Journal of Financial and Quantitative Analysis (A*).

Stephen has recently been appointed Executive Editor of the Financial Analysts Journal. The FAJ, published by CFA Institute, s a leading publication with a print subscription of 130,000, and an ever growing online presence with article downloads reaching over 800,000 in the past financial year. This journal has a significant impact in the investment management community world-wide, due to its practitioner-relevant focus.

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Research Output

Credit cards: transactional convenience or debt-trap?

Brown, S., Veld, C. & Veld-Merkoulova, Y., 2020, In : International Review of Finance. 20, 2, p. 295-322 28 p.

Research output: Contribution to journalArticleResearchpeer-review

The efficient market hypothesis, the Financial Analysts Journal, and the professional status of investment management

Brown, S. J., 2020, In : Financial Analysts Journal. 76, 2, p. 5-14 10 p.

Research output: Contribution to journalArticleOtherpeer-review

Open Access

Upside potential of hedge funds as a predictor of future performance

Bali, T. G., Brown, S. J. & Caglayan, M. O., Jan 2019, In : Journal of Banking and Finance. 98, p. 212-229 18 p.

Research output: Contribution to journalArticleResearchpeer-review

What is the role of institutional investors in corporate capital structure decisions? A survey analysis

Brown, S., Dutordoir, M., Veld, C. & Veld-Merkoulova, Y., Oct 2019, In : Journal of Corporate Finance. 58, p. 270-286 17 p.

Research output: Contribution to journalArticleResearchpeer-review

Sensation seeking and hedge funds

Brown, S., Lu, Y., Ray, S. & Teo, M., Dec 2018, In : Journal of Finance. 73, 6, p. 2871-2914 44 p.

Research output: Contribution to journalArticleResearchpeer-review

5 Citations (Scopus)