THE EFFECT OF GLOBALIZATION OPERATIONS ON FINANCIAL FUNCTION

Year 2017, , 883 - 890, 30.06.2017

Murat Turgut

https://doi.org/10.17261/Pressacademia.2017.670

Abstract

Technological
and scientific development which is the result of globalisation is forcing the
current companies to change financially. Especially the rapid growth in
informatics and communication, has not only increasednthe processing speed but
aLso destroyed the importance of the consepts like time and place. This situation
made the investors invest on the international markets and also reach
international funds. Globalisation has amde radicalisation in companies'
financial structure. It has now beeb obligatory for the companies to adapt the
change And the ones which can not adapt to this change are thought to go down
in this competitive market. Globalization, which is indexed to technological
and scientific developments, has brought many radical changes in the field of
economics as well as in many areas. In the process of globalization, new trends
are emerging in national and international economic markets. New trends in the
economy have affected businesses the most. When it is thought that increasing
the influence of the globalization process day by day, the enterprises which
are trying to maintain a closed economic structure by stopping the process in
the environment of intense competition and interaction are deemed to have
accepted to throw themselves out of economic life. In this point, it is very
important for the enterprises targeting to succeed in the globalization process
to apply the new techniques and approaches in the financial area. Because new
trends brought together the concept and rules of financial globalization. The
adaptation of new trends in national and international businesses is required
in a competitive environment in which dynamic economies are adapting to the
process. Globalization affects the whole of business functions because of
having an open system. On the other hand, the fact that most of the decisions
taken by the business are financial, makes the financial function more
attractive. For this reason, it is necessary to take a holistic approach to
business functions in a finance-oriented manner. Effective financial management
practices need to be dealt with in order to achieve this. 

Keywords

Globalization, Finance, financial Functions, Corporate Finance, İnternational Finance

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