Biographical statement

Dr. Brewer has taught finance courses and conducted research at Indiana University Purdue University Columbus since 2009. Brewer earned his Ph.D. from Indiana University Bloomington’s Graduate School in 2011 on the topic of financial economics: intrinsic valuation. Brewer’s research and nominations committee members spanned three schools on the Bloomington campus: Public Health (Sports Business), Business (Finance), and Education (Research Inquiry & Methodology). Prior to this experience, Brewer earned an M.B.A. in finance and statistics from the Kelley School of Business in 2001, after which he has accrued 11 years of professional valuation consulting experience. On several occasions, Brewer has testified as a valuation expert in the federal and Indiana state court systems. Brewer remains active in valuation consulting today, focusing this practice in the niche areas of intellectual property value/damages, sports property values, and derivatives valuation. Prior to entering professional school, Brewer worked for five years as a risk management engineer for a Fortune 50 (U.S.) Corporation in Michigan and Indiana, ultimately attaining worldwide responsibilities for the development of policy compliance programs.


  • Ph.D., The Valuation of Sports Businesses, Indiana University, 2011
  • M.B.A., Statistics and finance, Indiana University, academic scholarship, 2001
  • B.S., Engineering and technology, Indiana University–Purdue University Indianapolis, 1996
  • B.S., Environmental health, Purdue University, 1994

Professional activities

  • CFA Institute
  • American Society of Appraisers
  • CFA Institute
  • American Society of Appraisers
  • National Association of Business Economists
  • North American Society of Sport Management

Courses taught

  • MBA Module 1 [financial management component]
  • MBA Module 4 [strategy component, Lead Faculty]
  • BUS-F 523 Financial Management
  • BUS-F 421 Risk Management & Derivatives
  • BUS-F 420 Portfolio Theory
  • BUS-F 494 International Finance
  • BUS-F 303 Intermediate Investments
  • BUS-F 490 Independent study in finance

Research activities

While Brewer’s research interests are somewhat varied, his current research line is in the area of sport enterprise valuation. He is published in the International Journal of Sport Communication (2008), Business Valuation Update (2008), and Law Journal Newsletters (2003), with articles on the topics of sport valuation, intellectual property valuation, and equity derivatives, respectively. Brewer has also written a sport economics book review (published in the International Journal of Sport Communication, 2008), and edited the seminal edition of a corporate finance text book, authored by Craig Holden, Ph.D., entitled, Excel Modeling & Estimation in Corporate Finance.

Awards & activities

  • Indiana University-Bloomington, merit based research scholarship, 2007
  • Indiana University-Bloomington, Kelley School of Business M.B.A. scholarship / research assistantship, 1999, 2000. Award based on GMAT score (94%ile), and prior experiences
  • Indiana State Governor’s Award for Pollution Prevention, 1998. Award recognized efforts of an engineering team (United Technologies Corporation), which Brewer led, that successfully reduced volatile organic compounds emissions by 40 tons per year at one manufacturing facility (over 1 million pounds of air pollution saved, and counting)


  • Brewer, R. M. & Freeman, K. M. (2015). Inexpensively Estimating the Economic Impact of Sports Tourism Programs for Small American Cities. Indiana Business Review, Spring 2015, 90(1), 1-6.
  • Brewer, R.M. (2015). Columbus, Indiana Economic Outlook: 2015. Indiana Business Review, Winter 2015, 89(4).
  • Brewer, R.M. (2014). Columbus, Indiana Economic Outlook: 2014. Indiana Business Review, Winter 2014, 88(4).
  • Brewer, R.M. & Pedersen, P.M. (2013). A Method for Valuing National Collegiate Athletic Association (NCAA) Football Bowl Subdivision (FBS) Programs. Journal of Contemporary Athletics, 7(3), 175-195.
  • Brewer, R.M. & Pedersen, P.M. (2013). Predicting the value of NCAA Football Bowl Subdivision Programs. International Journal of Sport Management, 14(3), 271-295.
  • Brewer, R.M., Pedersen, P.M., Lim, C.H., & Clerkin, T.A. (2011). Examining the value of sport clubs: A cross-sectional intrinsic valuation of NCAA Football Bowl Subdivision (FBS) football programs. International Journal of Applied Sport Science, 23(2), 1-21.
  • Brewer, R.M. & Pedersen, P. (2010). The Value of Sponsorship in Sports Entities, Journal of Sponsorship, 2(1), 181-193.
  • Wanless, E., Wessel, R. (advisor), Brewer, R. (advisor), & Pierce, D. (advisor). (2015). High Profile Success as a Predictor for Total Athletics Revenue in NCAA Division I FBS Institutions. 13th Annual Sport Marketing Association. Atlanta, GA (October, 2015). Peer reviewed conference paper and presentation.
  • Brewer, R. & Freeman, K. (2015). Addressing the Association between Political Affiliation & College Football Program Value: A Fixed Effects Model. Southwest Finance Association Annual Conference. Houston, TX (March, 2015). Peer reviewed conference paper and presentation.

Civic engagement

  • Indianapolis Downtown Optimist Club, 2003-2008
  • Vice President for Administration, Optimist Club, 2006-2007
  • Director of High Schools Essay Contest, Optimist Club, 2004, 2005