Richard Townsend

Associate Professor of Finance

UC San Diego and NBER

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[Official UCSD Website]


Flight to Safety: How Economic Downturns Affect Talent Flows to Startups

with Shai Bernstein and Ting Xu

Review of Financial Studies, Forthcoming

Does Career Risk Deter Potential Entrepreneurs?

with Joshua D. Gottlieb and Ting Xu

RFS Editor's Choice

Review of Financial Studies, 2022, 35(9), Lead Article

Can the Market Multiply and Divide? Non-Proportional Thinking in Financial Markets

with Kelly Shue

AQR Insight Award (1st Prize)

Journal of Finance, 2021, 76(5): 2307-2357

How Do Consumers Fare When Dealing with Debt Collectors? Evidence from Out-of-Court Settlements

with Ing-Haw Cheng and Felipe Severino

RFS Editor's Choice

Review of Financial Studies, 2021, 34(4): 1617-1660, Lead Article

Do Household Wealth Shocks Affect Productivity? Evidence from Innovative Workers During the Great Recession

with Shai Bernstein and Timothy McQuade

Journal of Finance, 2021, 76(1): 55-111

Are Early Stage Investors Biased Against Women?

with Michael Ewens

Journal of Financial Economics, 2020, 135(3): 653-677

How Do Quasi-Random Option Grants Affect CEO Risk-Taking?

with Kelly Shue

Journal of Finance, 2017, 76(6): 2551-2588

Growth Through Rigidity: An Explanation for the Rise in CEO Pay

with Kelly Shue

JFE Jensen Prize for Best Papers in Corporate Finance and Organizations (2nd Prize) 

Journal of Financial Economics, 2017, 123(1): 1-21, Lead Article

The Impact of Venture Capital Monitoring

with Shai Bernstein and Xavier Giroud

Journal of Finance, 2016, 71(4): 1591-1622

Propagation of Financial Shocks: The Case of Venture Capital

Management Science, 2015, 61(11): 2782-2802

Working Papers

Political Sentiment and Innovation: Evidence from Patenters

with Joseph Engelberg, Runjing Lu, and William Mullins

Revise and Resubmit, Review of FInancial Studies

Fencing Off Silicon Valley: Cross-Border Venture Capital and Technology Spillovers

with Ufuk Akcigit, Sina Ates, Josh Lerner, and Yulia Zhestkova

Revise and Resubmit, Journal of Monetary Economics

Do Startups Benefit from Their Investors' Reputation: Evidence from a Randomized Field Experiment

with Shai Bernstein, Kunal Mehta, and Ting Xu

How Resilient is Venture-Backed Innovation? Evidence from Four Decades of U.S. Patenting

with Sabrina Howell, Josh Lerner, and Ramana Nanda