Faculty Directory

Richard R. Townsend

Assistant Professor of Business Administration; Daniel T. Revers T’89 Faculty Fellow





Personal Website



PhD, Harvard University, 2011; BA, Stanford University, 2005

Areas of Expertise

Corporate finance, entrepreneurial finance


Rick teaches Entrepreneurial Finance at Tuck.

Current Research Topics

  • Venture Capital, Innovation
  • Executive Compensation
  • Initial Public Offerings
  • Mergers and Acquisitions

Professional Activities

Academic positions

  • Tuck School of Business, 2011–present
  • Teaching Fellow, Harvard University, 2007–10 

Nonacademic positions

  • Intern, Council of Economic Advisors, White House, 2003

Working Papers

  • "Swinging for the Fences: Executive Reactions to Quasi-Random Option Grants"
  • "Learning from Luck: Evidence from Mutual Fund Managers"


  • Harvard Graduate Fellowship, 2005–11
  • Anna Laura Meyers Award, Stanford University, 2005
  • National Merit Scholarship, 2001

Selected Publications

  • With K. Shue, "Growth through Rigidity: An Explanation of the Rise in CEO Pay," Forthcoming, Journal of Financial Economics
  • "Propagation of Financial Shocks: The Case of Venture Capital," Management Science, July 2015
  • With S. Bernstein and X. Giroud, "The Impact of Venture Capital Monitoring: Evidence from a Natural Experiment," Forthcoming, Journal of Finance