Robert Richmond

Biography

Robert J. Richmond is an Assistant Professor of Finance at New York University’s Stern School of Business. He earned his Ph.D. in Finance from the Anderson School of Management at the University of California, Los Angeles in 2016 and his B.S. in Applied Mathematics from University of Colorado at Boulder in 2011.

Professor Richmond’s research covers topics in international finance, macroeconomics, and asset pricing. His work in international finance shows how countries’ positions in the global trade network impact their interest rates and currency risk as well as how exchange rate movements can largely be explained by measures of physical and cultural distance between countries. In asset pricing, his research studies the impact of institutional investors on equity prices. His research has been published in outlets such as the Journal of Finance and the Review of Financial Studies.

Research Interests

• International finance
• Macroeconomics
• Asset pricing

Academic Background

Ph.D., Finance
University of California, Los Angeles

B.S., Applied Mathematics
University of Colorado at Boulder

Honors, Awards, and Fellowships

• Vienna Symposium on Foreign Exchange Markets Best Paper Award (2020)
• Annual Conference on International Finance Best Paper Award (2016)
• Cubist Systematic Strategies Ph.D. Candidate Award for Outstanding Research (2016)
• Xavier Drèze award for most outstanding Ph.D. research paper (2016)
• Best Finance Ph.D. Dissertation Award in Honor of Professor Stuart I. Greenbaum, Olin Business School (2015)
• UCLA Dissertation Year Fellowship (2015-2016)
• UCLA Anderson Fellowship (2011-2015)
• American Finance Association Student Travel Grant (2015)
• NSF grant for Undergraduate Mathematics research (2009-2011)
• Participant in UC Berkeley Summer Explorations in Statistics Research (2010)

Published Papers

• Trade Network Centrality and Currency Risk Premia. The Journal of Finance, 74(3), 2019, 1315-1361.
• Gravity in the Exchange Rate Factor Structure, with Hanno Lustig. The Review of Financial Studies, 33(8), 2020, 3492–3540.
• International Trade and Social Connectedness With Michael Bailey, Abhinav Gupta, Sebastian Hillenbrand, Theresa Kuchler, and Johannes Stroebel. Journal of International Economics, 129(103418), March 2021.

Working Papers

• Which Investors Matter for Equity Valuations and Expected Returns? with Ralph Koijen and Motohiro Yogo.
• A Portfolio Approach to Global Imbalances With Zhengyang Jiang and Tony Zhang. Journal of Finance, Revise and Resubmit.
• Origins of International Factor Structures, with Zhenyang Jiang. Journal of Financial Economics, Revise and Resubmit.
• Divided We Fall: International Health and Trade Coordination During a Pandemic With Viral Acharya, Zhenyang Jiang, and Ernst-Ludwig von Thadden.
• Hansen-Jagannathan Bounds with Convenience Yields, With Zhengyang Jiang.