Heather E. Tookes
Heather Tookes’ research lies at the intersection of capital markets and corporate finance. 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.
Tookes joined Yale School of Management in 2004 as an Assistant Professor of Finance, after completing her PhD at Cornell. Since joining the SOM faculty, she has taught corporate finance to both full time and executive MBA students.
Achievements and Awards
Yale School of Management Alumni Association Teaching Award, 2010
Q-Group Research Grant, 2010
Morgan Stanley Equity Market Microstructure Research Grant, 2005
Information, Trading, and Product Market Interactions: Cross-Sectional Implications of Informed Trading, 2008, Journal of Finance 63(1), 379-413.
Convertible Bond Arbitrage, Liquidity Externalities, and Stock Prices, with Darwin Choi and Mila Getmansky, 2009, Journal of Financial Economics 91(2), 227-251.
Convertible Bond Arbitrageurs as Suppliers of Capital, with Darwin Choi, Mila Getmansky and Brian Henderson, 2010, Review of Financial Studies 23(6), 2492-2522.
Dynamic Competition, Valuation, and Merger Activity, with Matthew Spiegel, 2013, Journal of Finance 68(1), 125-172.
Corporate Leverage, Debt Maturity, and Credit Default Swaps: The Role of Credit Supply, with Alessio Saretto, 2013, Review of Financial Studies 26(5), 1190-1247.
PhD Cornell University, 2003
BA Brown University, 1996