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 a member of the FINRA Economic Advisory Committee, the Federal Reserve Bank of New York’s Financial Advisory Round Table, and the Board of Directors of Ariel Investments. She has also served as an Associate Editor at the Review of Financial Studies and Management Science.