About

Gregory Brown is the Van and Kay Weatherspoon Distinguished Professor of Finance at UNC Kenan-Flagler Business School. His research centers on alternative investments, including hedge funds and private equity funds, and he is a leading expert on financial risk and the use of derivative contracts as risk management tools. He is the founder and research director of the Institute for Private Capital, faculty director of the Hodges Scholars Program, and a member of the Private Equity Research Consortium advisory board. Dr. Brown served as the executive director of the Kenan Institute of Private Enterprise from 2015 to 2023. His work has been published in prominent academic and practitioner finance journals, and he serves on the editorial board of the Journal of Alternative Investments. Additionally, he serves on the board of directors of the Chartered Alternative Investment Analyst (CAIA) Association. His professional experience includes serving as director of research for Amundi Smith Breeden, a global asset management firm, and working at the board of governors of the Federal Reserve System in the division of research and statistics. Dr. Brown holds a PhD in finance from the University of Texas at Austin and a BS with honors in physics and economics from Duke University.

Research topics

• Computer Science
• Economics
• Political Science
• Finance
• Business
• Mathematics
• Econometrics
• Actuarial science
• Statistics
• Monetary economics

Selected publications

• Net Asset Value in Private Equity

  SSRN Electronic Journal · 2026-01-01

  preprintOpen accessSenior author
  PublisherDOI

• The Performance of Small Business Investment Companies

  Financial Analysts Journal · 2026-01-22

  article1st authorCorresponding
  PublisherDOI

• Review of Cooperative Communities; How to Start Them and Why

  Communal Societies · 2026-02-16

  articleOpen access1st authorCorresponding
  PublisherOA PDFDOI

• Have Diversity Efforts Failed in Asset Management? Evidence from the Hedge Fund Industry

  SSRN Electronic Journal · 2025-01-01

  preprintOpen access1st authorCorresponding
  PublisherDOI

• Review of Historic New Lanark: The Dale and Owen Industrial Community Since 1785

  Communal Societies · 2025-11-14

  articleOpen access1st authorCorresponding
  PublisherOA PDFDOI

• Net Asset Value in Private Equity

  2025-01-01

  book-chapter1st authorCorresponding
  PublisherDOI

• Legal effectiveness and external capital: The role of foreign debt

  Journal of Economics and Business · 2025-03-01

  article
  PublisherDOI

• Optimal Hedge Fund Allocation

  SSRN Electronic Journal · 2024-01-01

  preprintOpen access1st authorCorresponding
  PublisherDOI

• Creative Destruction, Stock Return Volatility, and the Number of Listed Firms

  National Bureau of Economic Research · 2024-06-01

  reportOpen access

  Average idiosyncratic volatility and firm idiosyncratic volatility increase with the number of listed firms.Average industry idiosyncratic volatility increases with the number of listed firms in the industry.We ex-plain the relation between idiosyncratic volatility and the number of listed firms through Schumpeterian creative destruction.We show that Schumpeterian creative destruction increases as the number of listed firms increases.However, there is no consistent evidence of an incremental effect of the number of non-listed firms on idiosyncratic volatility either in the aggregate or at the industry level, suggesting that listed firms play a unique role in the dynamism of the economy.

  PublisherOA PDFDOI

• Creative Destruction, Stock Return Volatility, and the Number of Listed Firms

  SSRN Electronic Journal · 2024-01-01

  articleOpen access
  PublisherDOI

Frequent coauthors

• David Haushalter

  67 shared

• Peter R. Crabb

  Northwest Nazarene University

  65 shared

• Söhnke M. Bartram

  57 shared

• Steven N. Kaplan

  University of Chicago

  37 shared

• René M. Stulz

  28 shared

• Oleg Gredil

  Tulane University

  23 shared

• David T. Robinson

  Duke University

  15 shared

• Tim Jenkinson

  12 shared

Awards & honors

• Van and Kay Weatherspoon Distinguished Professor of Finance