User profiles for Gregory W. Brown

Gregory Brown

Professor of Finance, University of North Carolina
Verified email at unc.edu
Cited by 10057

Investor sentiment and the near-term stock market

GW Brown, MT Cliff - Journal of empirical finance, 2004 - Elsevier
We investigate investor sentiment and its relation to near-term stock market returns. We find
that many commonly cited indirect measures of sentiment are related to direct measures (…

Investor sentiment and asset valuation

GW Brown, MT Cliff - The Journal of Business, 2005 - JSTOR
… Contact the corresponding author, Gregory W. Brown, at gregwbrown@unc.edu. … Interested
readers are referred to Brown and Cliff (2004) for a more complete discussion. 20. Neal and …

International evidence on financial derivatives usage

SM Bartram, GW Brown, FR Fehle - Financial management, 2009 - Wiley Online Library
Theory predicts that nonfinancial corporations might use derivatives to lower financial
distress costs, coordinate cash flows with investment, or resolve agency conflicts between …

The effects of derivatives on firm risk and value

SM Bartram, GW Brown, J Conrad - Journal of Financial and …, 2011 - cambridge.org
Using a large sample of nonfinancial firms from 47 countries, we examine the effect of derivative
use on firm risk and value. We control for endogeneity by matching users and nonusers …

Managing foreign exchange risk with derivatives

GW Brown - Journal of Financial Economics, 2001 - Elsevier
This study investigates the foreign exchange risk management program of HDG Inc. (pseudonym),
a US-based manufacturer of durable equipment. Precise examination of factors …

Capital structure and financial risk: Evidence from foreign debt use in East Asia

G Allayannis, GW Brown, LF Klapper - The Journal of Finance, 2003 - Wiley Online Library
Using a data set of East Asian nonfinancial companies, we examine a firm's choice between
local, foreign, and synthetic local currency (hedged foreign currency) debt. We find …

Volatility, sentiment, and noise traders

GW Brown - Financial Analysts Journal, 1999 - Taylor & Francis
The most basic implication of noise-trader theory is that irrational investors acting coherently
on a noisy signal can cause systematic risk. If noise traders affect prices, the noisy signal is …

Resolving the exposure puzzle: The many facets of exchange rate exposure

SM Bartram, GW Brown, BA Minton - Journal of Financial Economics, 2010 - Elsevier
Theory predicts sizeable exchange rate (FX) exposure for many firms. However, empirical
research has not documented such exposures. To examine this discrepancy, we extend prior …

Are firms successful at selective hedging?

GW Brown, PR Crabb, D Haushalter - The Journal of Business, 2006 - JSTOR
We analyze the corporate risk management policies of 44 companies in the gold mining
industry. Firms tend to decrease hedging as prices move against them—behavior contrary to …

How firms should hedge

GW Brown, KB Toft - The review of financial studies, 2002 - academic.oup.com
Substantial academic research explains why firms should hedge, but little work has addressed
how firms should hedge. We assume that firms can experience costly states of nature and …