Research Article
Investigation Of The Effect Of Asset-Backed Securitization On Compaines' Financial Failure Possibilities
Abstract
Securitization is a financial method that enables companies to remain liquid by converting their future receivables (such as mortgage, automobile loan, trade receivables) into securities with favorable interest rates. This method is yet to be widespread in Turkey demonstrates the need to investigate the utility of this method. For this reason, in this study, what kind of change occurs in the financial failure probability of the firms that make securitization under appropriate conditions is investigated. The telecommunications sector from the real sector was chosen as the sample. Balance sheet information disclosed to the public between 2015 and 2019 was used. As a result of the study, where Springate S-Score was calculated as a financial failure model, it was concluded that securitization also reduces the probability of financial failure of firms.
References
- Referans1 Carmen, L.A., Ana I.C., Maria C.L., Jose M.M.S., (2018). Securitization and financial solvency: empirical evidence from Portugal. The European Journal of Finance
- Referans2 Davidson, A. (2003). Securitization: Structuring and Investment Analysis.Wiley Finance,p:9
- Referans3 Davis, N. (2000), “Securitization: A Public Policy Tool?” Treasury Working Paper, New Zealand
- Referans4 Giddy, I., (2000). “The Securitization Process”. Erişim Linki: http://people.stern.nyu.edu/igiddy/ABS/abs2-process.pdf
- Referans5 Kothari, V. (2006). Securitization: The Financial Instrument of the Future (3rd ed.). Singapore: John Wiley & Sons (Asia) Pte Ltd
- Referans6 Günceler, B., Kesebir, M. (2018). Menkul Kıymetleştirme Banka Kredilerine Kıyasla Firmalar için Alternatİf Fonlama Kaynağı Olabilir mi? Türkiye’de Hizmet Sağlayan Şirketlere Uygulanabilirliği Bakımından İncelenmesi. International Journal Entrepreneurship and Management Inquiries, 2(3), 75 - 90.
- Referans7 Mellahi, K., A. Wilkinson. (2004). Organizational Failure: A Critique Of Recent Research And A Proposed Integrative Framework. International Journal Of Management Review. 5(1), 21-41.
- Referans8 Solomon, D.,Bitton, M. (2015). Intellectual Property Securitization. SSRN Electronic Journal
- Referans9 Öcal, N. (1994). Türkiye’de Menkul Kıymetleştirme Uygulaması, Etkileri, Sorunlar ve Çözüm Önerileri. Yüksek Lisans Tezi. Gazi Üniversitesi Sosyal Bilimler Enstitüsü. Ankara.
- Referans10 Pakdaman, H. (2018). Investigating the Ability of Altman and Springate and Zmijewski and Grover Bankruptcy Prediction Models in Tehran Stock Exchange. Revista ESPACIOS. 39(14):33.
- Referans11 Schwarcz, S.L. (2011).”Securitization and Structured Finance”. Erişim Adresi: http://masonlec.org/site/rte_uploads/files/SCHWARCZ_Encyclopedia-of-Financial-Globalization-Elsevier.pdf
- Referans12 Springate, G. L. V. (1978). Predicting the possibility of failure in a Canadian firm (Unpublished master’s thesis). Simon Fraser University, Canada.
- Referans13 Uğur, A., Erkuş, H. (2007). Securitization: A Basic Tool of Financing For the Firms. Elektronik Sosyal Bilimler Dergisi, 6 (22), 220 - 246
Investigation Of The Effect Of Asset-Backed Securitization On Compaines' Financial Failure Possibilities
Abstract
References
- Referans1 Carmen, L.A., Ana I.C., Maria C.L., Jose M.M.S., (2018). Securitization and financial solvency: empirical evidence from Portugal. The European Journal of Finance
- Referans2 Davidson, A. (2003). Securitization: Structuring and Investment Analysis.Wiley Finance,p:9
- Referans3 Davis, N. (2000), “Securitization: A Public Policy Tool?” Treasury Working Paper, New Zealand
- Referans4 Giddy, I., (2000). “The Securitization Process”. Erişim Linki: http://people.stern.nyu.edu/igiddy/ABS/abs2-process.pdf
- Referans5 Kothari, V. (2006). Securitization: The Financial Instrument of the Future (3rd ed.). Singapore: John Wiley & Sons (Asia) Pte Ltd
- Referans6 Günceler, B., Kesebir, M. (2018). Menkul Kıymetleştirme Banka Kredilerine Kıyasla Firmalar için Alternatİf Fonlama Kaynağı Olabilir mi? Türkiye’de Hizmet Sağlayan Şirketlere Uygulanabilirliği Bakımından İncelenmesi. International Journal Entrepreneurship and Management Inquiries, 2(3), 75 - 90.
- Referans7 Mellahi, K., A. Wilkinson. (2004). Organizational Failure: A Critique Of Recent Research And A Proposed Integrative Framework. International Journal Of Management Review. 5(1), 21-41.
- Referans8 Solomon, D.,Bitton, M. (2015). Intellectual Property Securitization. SSRN Electronic Journal
- Referans9 Öcal, N. (1994). Türkiye’de Menkul Kıymetleştirme Uygulaması, Etkileri, Sorunlar ve Çözüm Önerileri. Yüksek Lisans Tezi. Gazi Üniversitesi Sosyal Bilimler Enstitüsü. Ankara.
- Referans10 Pakdaman, H. (2018). Investigating the Ability of Altman and Springate and Zmijewski and Grover Bankruptcy Prediction Models in Tehran Stock Exchange. Revista ESPACIOS. 39(14):33.
- Referans11 Schwarcz, S.L. (2011).”Securitization and Structured Finance”. Erişim Adresi: http://masonlec.org/site/rte_uploads/files/SCHWARCZ_Encyclopedia-of-Financial-Globalization-Elsevier.pdf
- Referans12 Springate, G. L. V. (1978). Predicting the possibility of failure in a Canadian firm (Unpublished master’s thesis). Simon Fraser University, Canada.
- Referans13 Uğur, A., Erkuş, H. (2007). Securitization: A Basic Tool of Financing For the Firms. Elektronik Sosyal Bilimler Dergisi, 6 (22), 220 - 246
There are 13 citations in total.
Details
| Primary Language | English |
|---|---|
| Subjects | Business Administration |
| Journal Section | Cilt:4 Sayı:10 |
| Authors | |
| Publication Date | December 31, 2020 |
| Published in Issue | Year 2020 Volume: 4 Issue: 10 |