AFFECT Logo

Committee Members

Heather Tookes (Chair)

Heather Tookes is a Professor of Finance at the Yale School of Management and a Research Associate at the NBER.  Her research spans a variety of topics in microstructure and corporate finance, including credit market frictions and firm capital structure, trader leverage and market stability, and linkages between firm value and product market dynamics. In addition to AFFECT, she serves on the AFA’s Committee on Racial Diversity (CORD).  She is also a member of the FINRA Economic Advisory Committee and has served on several boards of directors, for both non-profit and for-profit organizations.  Tookes earned her Ph.D. in Finance at Cornell and her B.A. in Economics at Brown. Read full profile

Brad Barber (Vice-Chair)

Brad Barber is the Gallagher Professor of Finance at the Graduate School of Management, UC Davis. Professor Barber has been recognized as one of the most widely cited financial economists in the world (ranking 38th in one citation survey). His research focuses on asset pricing, behavioral finance, and private equity. He has written numerous scholarly articles, which have appeared in top academic publications including the Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Journal of Political Economy, Quarterly Journal of Economics, American Sociological Review, Journal of Financial and Quantitative Analysis, and the Financial Analyst Journal. Read full profile

Victoria Ivashina

Victoria Ivashina is the Lovett-Learned Professor of Finance and Head of the Finance Unit at Harvard Business School. Professor Ivashina is also the faculty chair of the Global Initiative for the Middle East and North Africa (MENA) region. She is a Research Associate at the National Bureau of Economic Research (NBER), a Research Fellow at the Center for Economic Policy Research (CEPR), a Visiting Scholar at the Federal Reserve Bank of Boston, and a member of the Model Validation Council at the Board of Governors of the Federal Reserve System. She co-heads Harvard Business School’s Private Capital Initiative and Private Equity and Venture Capital (PEVC) executive education program. Her research spans multiple areas of financial intermediation including corporate credit markets, global banking operations, asset allocation by pension funds and insurance companies, and value creation by private equity. Professor Ivashina serves a Department Editor at the Management Science, and a board member of the American Finance Association and Financial Intermediation Research Society. She holds a Ph.D. in Finance from the NYU Stern School of Business and a B.A. in Economics from Pontificia Universidad Católica del Perú. Read full profile

Wei Jiang

Wei Jiang is Arthur F. Burns Professor of Free and Competitive Enterprise in the Finance Division at Columbia Business School.  She is also a Scholar-in-Residence at Columbia Law School, a Senior Fellow at the Program on Corporate Governance at Harvard Law School, and a Research Associate of the NBER—Law and Economics.  Professor Jiang received her B.A. and M.A. in international economics from Fudan University (China), and Ph.D. in economics from the University of Chicago in 2001 after which she joined Columbia Business School.  She was an investment banking associate at Prudential Securities (Shanghai) before pursuing her Ph.D. degree. Read full profile

Kai Li

Kai Li holds Canada Research Chair in Corporate Governance and W. Maurice Young Endowed Chair in Finance at the UBC Sauder School of Business, University of British Columbia. She was also Senior Associate Dean, Equity and Diversity between 2016-2021. Kai’s research focuses on the economic consequences of corporate governance mechanisms. Her current research projects explore: (1) gender, competition, and performance, (2) machine learning in finance, and (3) creditor governance. Her research has appeared in Journal of FinanceJournal of Financial EconomicsReview of Financial StudiesJournal of Financial and Quantitative AnalysisManagement ScienceJournal of International Business Studies, and many other leading journals in Finance and Economics. She is the recipient of the UBC Killam Research Award, the Sauder School of Business Research Excellence Award (both junior and senior categories), and the Barclays Global Investors Canada Research Award, a Senior Fellow of the Asian Bureau of Finance and Economic Research, a Research Member of the European Corporate Governance Institute, and a Research Fellow of the FinTech at Cornell Initiative. She is on the Editorial Board of Journal of Financial and Quantitative AnalysisJournal of International Business StudiesJournal of Financial Intermediation, Journal of Financial Stability, and Pacific-Basin Finance Journal. She has also served on the Editorial Board of Review of Financial StudiesReview of FinanceManagement ScienceJournal of Corporate FinanceJournal of Banking and Finance, and Financial Management. Her research has been featured in Wall Street Journal, New York Times, Washington Post, Financial Times, The Time Magazine, Reuters, CNBC, Bloomberg, Dow Jones Newswire, New Yorker, BBC, BNN, CBC National, CTV National News, National Post, Globe and Mail, U.S. News & World Report, Harvard Business Review, and Yahoo! Finance. Read full profile

Anna Pavlova

Anna Pavlova is Professor of Finance at London Business School. She is also an Academic Director of the AQR Asset Management Institute at London Business School, a Research Fellow of the Centre for Economic Policy Research in London and a former Director of the European Finance Association. As of December 2018, she was elected a Director of the American Finance Association. Prior to joining London Business School, she was on the faculty at MIT Sloan School of Management. She holds a PhD in Economics from the University of Pennsylvania, an MA in Economics from the New Economic School (Moscow) and an MSc in Applied Mathematics from Moscow State University. Read full profile

Director of Mentoring, Michelle Lowry

Michelle is the TD Bank Professor of Finance at the LeBow School of Business, Drexel University. She received her PhD from the University of Rochester. She is a founding member of AFFECT. Her research focuses on a variety of issues in empirical corporate finance, including initial public offerings, corporate governance, shareholder voting, and mergers. She is particularly interested in the ways that companies’ corporate governance affects their performance around these corporate events. Michelle is President-Elect of the Financial Management Association (FMA), and she is a director of both the American Finance Association (AFA) and the European Finance Association (EFA). Read full profile

Advisory Committee Members

Renee Adams – Renee is a Professor of Finance at the University of Oxford.

Peter DeMarzo – Staehelin Family Professor of Finance, Stanford University.

Mariassunta Giannetti – Professor of Finance at the Stockholm School of Economics.

Sabrina Howell – Assistant Professor of Finance at the Stern School of Business, New York University.

Jennifer Huang – Jennifer is a Professor of Finance at the Cheung Kong Graduate School of Business.

Michelle Lowry – TD Bank Professor of Finance at the LeBow School of Business, Drexel University.

Manju Puri – J. B. Fuqua Professor at the Fuqua School of Business, Duke University.

Ingrid Werner – Martin & Andrew Murrer Professor of Finance at the Fisher College of Business, The Ohio State University.

Past Committee Members:

Manju Puri, Member and Chair 2019-2022

Ingrid Werner, Member and Vice-Chair 2019-2021

Adair Morse, Member 2019-2021  

Renee Adams, Founder and Chair 2015-2019

Michelle Lowry, Founder and Vice-Chair 2015-2019  

Francesca Cornelli, Founder and Member 2015-2019  

Sydney Ludvigson,  Member 2015-2019  

Paola Sapienza, Member 2015-2019  

Ulrike Malmendier,  Member 2015-2018  

Organization of AFFECT

  • AFFECT is organized as a committee of the AFA. This organization largely follows that of CSWEP relative to the AEA.
  • The Committee consists of six members: a Chair, a Vice Chair and four at-large members. Members serve three-year terms, with a maximum of two consecutive terms by any one member. As existing Committee members’ terms expire, the Committee is responsible for nominating new Committee members. These nominations are subject to AFA approval.
  • A fraction of the initial board members will serve more than three years, as we evolve into a staggered committee structure. Organization-specific knowledge will be important, and continuity of at least some board members each year will facilitate this.
  • A Committee member may serve a maximum of two consecutive terms.
  • The Chair of the Committee will attend the January meeting of the AFA Executive Committee to deliver the annual report.
  • An Advisory Committee serves to provide guidance and ideas on specific initiatives.