Ticari İşletme Menkul Kıymetleştirmesi

Yıl 2016, Cilt: 7 Sayı: 1, 25 - 64, 13.07.2016

M. Murat Aktaş

Öz

Ticari işletme menkul kıymetleştirmesi, menkul kıymetleştirme olarak nitelenen bir işletme finansman sistemidir. Ticari işletme menkul kıymetleştirmesi, ilk kez Birleşik Krallık ve onunla benzer iflas hukuku düzenlemelerine sahip ülkelerde uygulanmıştır. Ticari işletme menkul kıymetleştirmesi en son olarak ise ABD, Japonya ve diğer ülkelerde farklı yapılar dâhilinde uygulanmıştır. Makalede az bilinen ticari işletme finansmanı yöntemi olan ticari işletme menkul kıymetleştirmesi sistemine ışık tutularak, hukuki ve ekonomik işleyişi ele alınacak ve en son olarak ise sistemin Türk sermaye piyasası hukukunda uygulanabilirliği hususu değerlendirilecektir

Anahtar Kelimeler

Menkul kıymetleştirme, ticari işletme, finans, sermaye piyasası

Whole Business Securitization

Öz

As an innovative financial technique the whole business securitization (WBS) first appeared in the United K ingdom in the mid 1990s. The WBS later expanded to the countries which has insolvency legislations similar to United Kingdom. The WBS spreads to the United States and Japan in the early 2000s which have different insolvency law from that of the United Kingdom. This article aims to shed a new light on little known WBS to explore new possibilities for innovative securitization after the global financial crisis. This article examines mainly the market background and reasons of the WBS; the legal mechanism and the economic value of the WBS; differences between the traditional securitization and the implementation possibility of the WBS, under the Turkish capital market law

Anahtar Kelimeler

Securitization, securitisation, whole business, commercial enterprise, finance, capital markets

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