Suchergebnisse

Menkul kıymetleştirme, nakit sahip olunan farklı varlık veya tahvillerin, menkul değerler ile birlikte toplandığı ve sonra da üçüncü bir yatırımcıya satıldığı bir süreçtir. Yaşanılan global kriz, fınansal piyasaların dengelenmesi için düzenleyici kuralların yaratılıp uygulanması gereğini göstermektedir. Bu anlamda, Avrupa'lılar ABD'nin mortgage piyasasında yaşadığı düşüşünü hayretle ve şaşkınlıkla karşılamaktadırlar. Bu çalışmamızın amacı, ABD ve AB'deki menkul kıymetleştirmedeki farklılıkları makro ekonomi açısından araştırmaktır. Anılan ülkeler arasındaki menkul kıymetleştirmenin yapısal farklılıklar gösterdiğine ait yeterli kanıtlar mevcuttur. Menkul kıymetleştirme dünyanın çoğu ekonomilerindeki mortgage piyasaları için uzun erimli fon sağlamada cazip ve potansiyel geniş bir kaynaktır. Buna ilave olarak, menkul kıymetleştirme hem gelişmiş hem de gelişmekte olan ülkelerde görülmektedir. Dünya çapında her yıl konut alanlara yaklaşık 5 trilyon dolar sermaye piyasalarınca transfer edilmektedir. Türkiye'de bu türden modern bir konut finansmanının olmaması ülkemizi bu olanaktan yoksun bırakmaktadır. Bu anlamda, çalışmanın bir diğer amacı menkul kıymetleştirme ile ilgili anahtar trendleri ikincil mortgage marketler yoluyla elde etmektir. Türkiye Büyük Millet Meclisi' nde Mortgage Yasası 2007 Mart ayında kabul edildi. Bu yasa mortgage ile finaııs sistemine ve konut almak için borçlananlara en iyi avantajı kredilerle sağlayıp menkul kıymetleştirmeyi teşvik etmektedir. Getirdiği faydalarından dolayı da menkul kıymetleştirmeyi Türkiye'de tutundurmak için ona daha fazla ileri teşvikler sağlanmalıdır. ; Securitization is a process in which different assets or portfolios of cash own generating securities are pooled together and then sold to third parties. Recent global financial crisis demonstrate the need to create and implement regulatory frameworks that balance financial markets. In this context, Europeans have watched in bewilderment and amazement as the USA mortgage market cratered. The purpose of this article is to research the differences of securitisation between the USA and the European Union from a macroeconomic perspective. There is considerable evidence that securitisation in the USA and the EU indicate structural differences. Securitisation in most of the economies in the world is an attractive and potentially large source of long-term funding for mortgage markets. In addition, securitisation can be found both in developed and in emerging countries. Every year, all over the world, approximately US$5 trillion worth of funds are transferred to homebuyers over the capital markets. The lack of a modern housing finance system in Turkey prevents from taking advantage of these widely available funds and services. In this regard, another objective is to capture key trends for the securitisation in Turkey via secondary mortgage markets. The Mortgage Law was approved in March 2007 by the Turkish Grand Nation Assembly. This law encourages securitisations of mortgage loans in the best advantages of the financial systems and the borrowers. Because of its benefits; further encouragement should be provided for promoting securitisation in Turkey.

PurposeTaking the deadliest mine accident in Turkey's history as a case of corporate social irresponsibility (CSI), this study aims to examine the adequacy of Campbell's (2007) model to explain firms' CSI behaviour.Design/methodology/approachThe authors applied a case study research method and collected secondary data in both English and Turkish from multiple sources between 2010 and 2017.FindingsThe authors found seven of the eight propositions in Campbell's framework applicable. The only condition that did not fit the authors' case was financial pressure. The authors concluded that top management's greed and lack of conscience significantly contributed to their gross negligence of safety measures and employee welfare. Their exploitative human resource practices, supported by low employee voice culture, added to the vulnerability of the mining workers.Research limitations/implicationsThe authors depended on secondary data in developing and analysing the case. The authors had no primary data collected directly from the participants involved in the accident. Moreover, relying on a single case to challenge an established framework may not achieve the necessary rigour, although an in-depth case study is likely to produce a good story.Practical implicationsTo prevent mining accidents from happening, Turkey needs to strengthen all three types of institutions (legal and regulative, normative and cultural-cognitive) related to mining safety. As coal mining is harmful to the environment and public health, regulators and policymakers need to consider their dependence on coal mining as a source of energy and actively seek to adopt other clean energy alternatives.Originality/valueThis study contributes to the under-researched field of CSI by applying a dual economic and institutional perspective and refining it with the authors' data.

Purpose
The purpose of this study is to build an understanding of how firms operate under the COVID-19 crisis. Specifically, the study examines the significance of firms' survival for their surrounding community, business–community relations during this severe situation and factors helping firms address this unprecedented challenge. The conceptual tenets of stakeholder theory are considered.


Design/methodology/approach
A qualitative data collection approach was selected, with face-to-face and online interviews undertaken with owners and managers of 33 firms operating in Singapore.


Findings
Firstly, while survival during the current unprecedented crisis is perceived to be most important for the firms' employees, owners/managers also perceive domino effects on other companies working alongside the participating firms, as well as effects on clients and suppliers. Secondly, increased collaboration with industry, stronger partnerships with suppliers and business partners and closer relationships with staff are highlighted during the crisis. Thirdly, key factors helping firms' survival in the initial year of the crisis included: a clear goal; a cohesive/nimble staff team; reinventing, adapting and being resilient; and family support and management support.


Originality/value
This study contributes empirically and conceptually to the literature on firm adaptation and firm–community relationships during a severe crisis. Empirically, the findings and related dimensions provide practical guidance concerning the interdependence between firms and their stakeholders. Conceptually, the inductive analysis, which enabled the development of a theoretical framework, illustrates the relationships between the study's emerging dimensions and those predicated by stakeholder theory, namely, the descriptive, instrumental, normative and managerial.

Purpose
The purpose of this study is to examine the implementation of Industry 4.0 (I4.0) through the lens of the dynamic capabilities framework. Contrary to most existing research, this study chooses a cross-national viewpoint, exploring companies operating in two emerging economies.


Design/methodology/approach
Semi-structured interviews were conducted with 80 company managers operating in eight industries in Vietnam and Bolivia. The chosen inductive analysis was supported by qualitative content analysis and data structure.


Findings
The analysis reveals 13 conceptual dimensions. For instance, sensing opportunities underlines tangible and intangible "direct prospects", such as enhanced accuracy, speed and cost effectiveness, whereas "operational management pressures" (sensing threats) identify the dilemma of changing individuals' mindset, recruitment and addressing financial needs. While there is an overall agreement in key dimensions, differences between managers from both countries also arise, including staff's adaptation and constant upskilling.


Originality/value
Empirically, this study responds to calls for cross-national studies investigating I4.0 initiatives. In doing so, the data gathered from company managers engaged in business in emerging economies afford new perspectives, with practitioner value. Theoretically, the numerous dimensions emerging from the data analysis provide useful conceptual insights to understand managerial aspects in considering and adapting to I4.0 expectations and requirements. These insights are reinforced by the development of a conceptual model that illuminates the initiatives, efforts and challenges of embracing this phenomenon.