Heather E. Tookes

Professor of Finance at Yale School of Management
Profile

Heather Tookes has been on the faculty of Yale School of Management since 2004. She received her PhD in Finance from Cornell and her BA in Economics from Brown.
 
Professor Tookes’ research lies at the intersection of capital markets and corporate finance. Much of her work focuses on understanding the ways in which credit market frictions can impact firms’ financing decisions.

She has a particular interest in credit default swap and convertible bond markets. She is also interested in trader borrowing and has linked margin trading to the sharp declines in stock market liquidity that occur during crises. 

In another line  of work, Professor Tookes’ research relates competition in product markets to various aspects of corporate finance. For example, she has a paper that identifies the effects of initial public offerings on rival firms. 

Professor Tookes is an Associate Editor at the Review of Financial Studies. She is also a member the FINRA Economic Advisory Committee and the Board of Directors of Ariel Investments.
 
Professor Tookes teaches the Corporate Finance elective in both the full-time MBA and the MBA for Executives programs. She has received teaching awards in both of these programs

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