Heather E. Tookes

Professor of Finance

Heather Tookes

Professor Tookes’ research lies at the intersection of capital markets and corporate finance.  Much of her work focuses on understanding the ways in which capital market frictions can impact market outcomes.  In market microstructure, a primary theme in her work is the structure of liquidity and efficiency “externalities” (how trading in one market affects liquidity and price formation in related markets).  In corporate finance, her focus is on understanding the roles that capital supply frictions and product market competition play in firms’ financing decisions.  Professor Tookes teaches the Corporate Finance elective in both the full-time MBA and the MBA for Executives programs.

Community Profile

“A wide range of students take my class. Any leader needs to be able to make informed inquiries about the big issues in finance.”


  • PhD, Cornell University, 2003
  • BA, Brown University, 1996


Corporate Finance
MGT 541


Selected Articles

A. Saretto and H. E. Tookes
Review of Financial Studies
M. Spiegel and H. E. Tookes
Journal of Finance
H. E. Tookes, E. Boehmer, and S. Chava
Journal of Financial and Quantitative Analysis
S. Bhagat and H. E. Tookes
The European Journal of Finance

Selected Working Papers


Posts by Heather E. Tookes


Teaching Award
Yale School of Management Alumni Association