Tatjana Puhan

Tatjana Puhan
TOBAM · Investment Management

About

9
Publications
451
Reads
How we measure 'reads'
A 'read' is counted each time someone views a publication summary (such as the title, abstract, and list of authors), clicks on a figure, or views or downloads the full-text. Learn more
44
Citations

Publications

Publications (9)
Article
We show that business cycle dynamics and, in particular, the cyclicality of a firm's growth opportunities, determine the value of corporate cash holdings. An additional dollar of cash is more valuable for firms with less procyclical expansion opportunities. This valuation effect is strongest for low leverage and high R&D firms, but is independent o...
Article
Using a dynamic model of financing, investment, and macroeconomic risk, we investigate when firms sell assets to fund investments (financing asset sales) across the business cycle. Equity financed investment transfers wealth from equity to debt because asset volatility declines and earnings increase when firms invest. Financing asset sales reduce a...
Article
We show that business cycle dynamics and, in particular, the cyclicality of a firm’s growth opportunities, determine the value of cash holdings. Cash is more valuable for firms with relatively more attractive growth opportunities in bad states of the business cycle. Cash holdings provide the flexibility to invest even in times when capital supply i...
Chapter
Full-text available
After introducing in the precedent chapter the main ideas, concepts, purposes and the course of investigation of this work, in this chapter the underlying conceptual pillars that are situated in organization studies are presented, broadly discussed and the deducible implications for the research objectives are emphasized. So in the course of the ch...
Chapter
Full-text available
The problems that are caused by the exploration vs. exploitation trade-off for the innovation management of a firm were extensively discussed in the previous chapter. In addition, it was outlined that the implementation of interorganizational ambidextrous structures seems to have the potential to solve the trade-off in an efficient and effective wa...
Chapter
Full-text available
In the beginning of chapter 3.3 it was already mentioned that although the organizational think tank approach provides several strengths, which make it likely that this framework can be superior to the existing concepts, there are, nevertheless, critical issues that also have to be discussed and analyzed. Hence, this chapter draws the attention to...
Chapter
Full-text available
Concluding this work does not mean finishing the discussion on the exploration vs. exploitation trade-off and the organizational think tank approach as a possibly viable way of solving the tensions that result from the conflict. The imperfections of the concept, which was developed and presented above, open up substantial empty spaces that could be...

Network

Cited By