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Finansal Krizler ve Anlamlandırma Teorisi: 2008 Krizine Retrospektif Bir Yaklaşım

Year 2015, Volume: 3 Issue: 1, 111 - 124, 01.01.2015

Abstract

Makalenin amacı Karl Weick’in anlamlandırma teorisini iktisadî açıdan değerlendirmek; finansal krizlerin önlenmesinde ya da tedbir alınmasında kullanılabilirliğini araştırmaktır. Çalışmada Kaminsky, Lizondo ve Reinhart, Burkart ve Coudert, Edwards kriz göstergeleri dikkate alınarak araştırmanın kriz göstergeleri belirlenmiştir. 2001 finansal krizinde etkili olan finansal göstergeler belirlenerek, retrospektif olarak 2008 küresel krizindeki değerlerle karşılaştırılmıştır. 2001 finansal krizinin anlamlandırılması sonucu 2008 küresel krizinin Türkiye ekonomisine olumsuz etkilerinin azaldığı sonucu ortaya konmuştur. Çalışmada retrospektif anlamlandırma yapılmış olmakla birlikte; prospektif anlamlandırma örgütsel davranış ve örgüt iktisadı açısından süreç iyileştirmeyi, örgütsel öğrenmeyi ve performans değerlemeyi sağlayacaktır.

References

  • Ancona, Deborah (2011), “Sensemaking: Framing and Acting in the Unknown”, The handbook for teaching leadership: Knowing, doing, and being, Ed.Snook, S., Nohria, N., & Khurana, R., Sage Publications.
  • BDDK, (Banking Regulation and Supervision Agency), (2010), Krizden İstikrara Türkiye http://www.bddk.org.tr/websitesi/turkce/Raporlar/Calisma_Raporlari/8676 krizden_istikraraturkiyetecrubesi_3uncu_baski.pdf 27.05.2014 Tebliği
  • Brown, Andrew. D. (2005), “Making sense of the collapse of Barings Bank”, Human Relations, 58 (12), p.1579-1604.
  • Celasun, Merih (2001), “Krizi, Öncesi ve Sonrası: Makroekonomik ve Mali Bir Değerlendirme”, VI. Uluslararası Ekonomi Konferansı, erc/ODTÜ, Ankara.
  • Edwards, Sebastian (1999), Crisis prevention: lessons from Mexico and East Asia (No. w7233). National bureau of economic research.
  • Erdönmez, Pelin Ataman, (2003), “Türkiye’de 2001 Yılındaki Mali Kriz Sonrasında Kurumsal Sektörde Yeniden Yapılandırma”, Bankacılar Dergisi, Sayı:47.
  • Ericson, Thomas (2001), “Sensemaking in Organisations Towards a Conceptual Framework for Understanding Strategic Change”, Scandinavian Journal of Management. 17 (1), p.109–131.
  • Foldy, Erica Gabrielle, Laurie Goldman and Sonia Ospina (2008), “Sensegiving and the role of cognitive shifts in the work of leadership”, The Leadership Quarterly, 19 (5), p.514-529.
  • Gephart Jr., Robert P. (1993), “The Textual Approach: Risk and Blame in disaster Sense-Making”, Academy of Management Journal, 36 (6), p.1400–1429.
  • Gephart Jr., Robert P. (2007), “Crisis Sensemaking and the Public Inquiry”, Pearson, p.123-160. 30.05.2014
  • Gioia, Dennis A., James B. Thomas, Shawn M. Clark, Kumar Chittipeddi (1994), “Symbolism and Strategic Change in Academia: the Dynamics of Sensemaking and Influence”, Organization Science, 5 (3), p.363–383.
  • Gioia, Dennis A., James B. Thomas (1996), “Identity, Image, and Interpretation: Sensemaking During Strategic Change in Academia”, Administrative Science Quarterly, Vol. 41, No. 3, p.370–403.
  • Gioia, Dennis A., Kumar Chittipeddi (1991), “Sensemaking and Sensegiving in Strategic Change Initiation, Strategic Management Journal, Vol.12, Issue 6, p.433–448.
  • Harries, Owen, Itamar Rabinovich, Niall Ferguson, Scott Barrett, (2008), Küresel İstikrarsızlıklar, Editör: Francis Fukuyama, Körnokta: Gelecek Senaryolarını Öngörmek, s. 212-226, Profil Yayıncılık, İstanbul.
  • Harris, Stanley G. (1994), “Organizational Culture and Individual Sensemaking: a Schema-Based Perspective”, Organization Science, 5 (3), p. 309–321.
  • Henneberg, Stephan C., Peter Naudé and Stefanos Mouzas (2010), “Sense-making and management in business networks—Some observations, considerations, and a research agenda”, Industrial Marketing Management, 39(3), p.355- 360.
  • Hermann, Margaret G., Bruce W. Dayton (2008), “Transboundary Crises through the Eyes of Policymakers: Sense Making and Crisis Management, ‘Surviving Future Disasters’ Conference Sponsored by the Stephenson Disaster Management Institute at Louisiana State University, New York, USA.
  • Isabella, Lynn A. (1990), “Evolving Interpretations as a Change Unfolds: How Managers Construe Key Organisational Events”, Academic Management of Journal, 33 (1), p.7–41.
  • Karaçor, Zeynep (2006), “Öğrenen Ekonomi Türkiye: Kasım 2000-Şubat 2001 Krizinin öğrettikleri”, Selçuk Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, (16).
  • Kaykusuz, Murat (2014), Geçmişten Günümüze Finansal Krizler (1619-2014), Ekin Kitabevi Yayınları, Bursa.
  • Mclarney, Carolan, Edward Chung (2000), “What Happened is Prologue: Creative Divergence and Corporate Culture Fabrication, Management Decision, 38 (6), p.410–419.
  • Mishkin, Frederic S. (1997), Understanding financial crises: a developing country perspective (No. w5600), National Bureau of Economic Research.
  • Önder, İzzettin (2009), “Küresel Kriz ve Türkiye Ekonomisi”, Muhasebe ve Finansman Dergisi, 42, 12-25.
  • Öniş, Ziya (2002), Argentine Crisis, IMF and the Limits of Neoliberal Globalization: A Comparative View from Turkey. IMF and the Limits of Neoliberal Globalization: A Comparative View from Turkey (October 2002). http://ssrn.com/abstract=350340, 02.07.2014
  • Özatay, Fatih (2009), Finansal Krizler ve Türkiye, Doğan Kitap, 1. Basım, İstanbul.
  • Posner, Richard A. (2008), Felaket Üzerine, Editör: Francis Fukuyama, Körnokta: Gelecek Senaryolarını Öngörmek, s.15-36, Profil Yayıncılık, İstanbul.
  • Rosier, Bernard (1991), İktisadi Kriz Kuramları, Çev: Nurhan Yentürk, İletişim Yayınları, İstanbul.
  • Savolainen, Reijo, (2006), “Information Use as Gap-Bridging: The Viewpoint of Sense-Making Methodology, Journal of the American Society for Information Science and Technology, 57 (8), p.1116-1125.
  • Selçuk, Bora (2010). “Küresel Krizin Türk Finans Sektörü Üzerindeki Etkileri”, Ekonomi Bilimleri Dergisi, Cilt 2, Sayı 2, s.21-27.
  • Sevim, Cüneyt (2012), Öncü Göstergeler Yaklaşımına Göre Finansal Krizler ve Türkiye Örneği, BDDK Kitapları No:11, Ankara.
  • Smerek, Ryan E. (2009), Sensemaking and Sensegiving: Leadership Processes of New College Presidents, Doctor of Philosophy in The University of Michigan.
  • Souto, Patrícia Cristina do Nascimento, Brenda Dervin and Reijo Savolainen (2012), “Designing For Knowledge Creation Work: An Exemplar Application Of Sense-Making Methodology”, Universidade de São Paulo, São Paulo, Brasil, RAI - Revista de Administração e Inovação, vol. 9, nşm. 2.
  • Steinthorsson, Runolfur Smari, Anders Söderholm (2002), “Strategic Management as Multi-Contextual Sensemaking in Intermediate Organisations, Scandinavian Journal of Management, 18 (2), p.233–248.
  • Summers, Lawrence H. (2000), “International Financial Crises: Causes, Prevention, and Cures”, American Economic Review, p.1-16.
  • Tarım, Emre (2009), “Tilly's Technical Accounts and Standard Stories Explored in Financial Markets: The Case of the Istanbul Stock Exchange”, Sociological Research Online, 14 (5), 21.
  • Tillmann, Katja, Andrew Goddard (2008), “Strategic Management Accounting and Sense-Making in a Multinational Company, Management Accounting Research, Vol. 19, Issue 1, p.80–102.
  • Weick, Karl E. (1988), “Enacted Sensemaking In Crisis Situations, Journal of Management Studies, 25:4, p.305-317.
  • Weick, Karl E. (1993), “The Collapse of Sensemaking in Organisations: the Gulch Mann Disaster”, Administrative Science Quarterly, 38 (4), p.628–652. Weick, K.E., (1995). “Sensemaking in Organizations
  • http://randrade.com.sapo.pt/cmeoSensemaking.pdf, 08.03.2014
  • Weinberg, Aaron, Emilie Wiesner and Timothy Fukawa-Connelly (2014), “Students’ sense-making frames in mathematics lectures”, The Journal of Mathematical Behavior, 33, p.168-179.
  • Yay, Turan; Gülsün G. Yay, Ensar Yılmaz (2001), Küreselleşme Sürecinde Finansal Krizler ve Finansal Düzenlemeler, İTO Yayınları No: 2001-47, İstanbul.

Financial Crisis and Sensemaking Theory: A Retrospective Approach to 2008 Crisis

Year 2015, Volume: 3 Issue: 1, 111 - 124, 01.01.2015

Abstract

The purpose of the article is to assess Karl Weick’s sensemaking theory in terms of economics, in order to research the validity of theory for preventing financial crisis or taking precaution. Crisis indicators of Kaminsky, Lizondo and Reinhart, Burkart and Coudert, Edwards are identified as crisis indicators of the research. Financial indicators that were effective in 2001 financial crisis are identified; and compared retrospectively with 2008 global crisis values. As a consequence of sensemaking 2001 financial crisis, it is put forth that negative effects of 2008 global crisis were lessened. Even though retrospective sensemaking approach is used in the study, prospective sensemaking will assure process improvement, organizational learning and performance evaluation in terms of organizational behavior and organization economics

References

  • Ancona, Deborah (2011), “Sensemaking: Framing and Acting in the Unknown”, The handbook for teaching leadership: Knowing, doing, and being, Ed.Snook, S., Nohria, N., & Khurana, R., Sage Publications.
  • BDDK, (Banking Regulation and Supervision Agency), (2010), Krizden İstikrara Türkiye http://www.bddk.org.tr/websitesi/turkce/Raporlar/Calisma_Raporlari/8676 krizden_istikraraturkiyetecrubesi_3uncu_baski.pdf 27.05.2014 Tebliği
  • Brown, Andrew. D. (2005), “Making sense of the collapse of Barings Bank”, Human Relations, 58 (12), p.1579-1604.
  • Celasun, Merih (2001), “Krizi, Öncesi ve Sonrası: Makroekonomik ve Mali Bir Değerlendirme”, VI. Uluslararası Ekonomi Konferansı, erc/ODTÜ, Ankara.
  • Edwards, Sebastian (1999), Crisis prevention: lessons from Mexico and East Asia (No. w7233). National bureau of economic research.
  • Erdönmez, Pelin Ataman, (2003), “Türkiye’de 2001 Yılındaki Mali Kriz Sonrasında Kurumsal Sektörde Yeniden Yapılandırma”, Bankacılar Dergisi, Sayı:47.
  • Ericson, Thomas (2001), “Sensemaking in Organisations Towards a Conceptual Framework for Understanding Strategic Change”, Scandinavian Journal of Management. 17 (1), p.109–131.
  • Foldy, Erica Gabrielle, Laurie Goldman and Sonia Ospina (2008), “Sensegiving and the role of cognitive shifts in the work of leadership”, The Leadership Quarterly, 19 (5), p.514-529.
  • Gephart Jr., Robert P. (1993), “The Textual Approach: Risk and Blame in disaster Sense-Making”, Academy of Management Journal, 36 (6), p.1400–1429.
  • Gephart Jr., Robert P. (2007), “Crisis Sensemaking and the Public Inquiry”, Pearson, p.123-160. 30.05.2014
  • Gioia, Dennis A., James B. Thomas, Shawn M. Clark, Kumar Chittipeddi (1994), “Symbolism and Strategic Change in Academia: the Dynamics of Sensemaking and Influence”, Organization Science, 5 (3), p.363–383.
  • Gioia, Dennis A., James B. Thomas (1996), “Identity, Image, and Interpretation: Sensemaking During Strategic Change in Academia”, Administrative Science Quarterly, Vol. 41, No. 3, p.370–403.
  • Gioia, Dennis A., Kumar Chittipeddi (1991), “Sensemaking and Sensegiving in Strategic Change Initiation, Strategic Management Journal, Vol.12, Issue 6, p.433–448.
  • Harries, Owen, Itamar Rabinovich, Niall Ferguson, Scott Barrett, (2008), Küresel İstikrarsızlıklar, Editör: Francis Fukuyama, Körnokta: Gelecek Senaryolarını Öngörmek, s. 212-226, Profil Yayıncılık, İstanbul.
  • Harris, Stanley G. (1994), “Organizational Culture and Individual Sensemaking: a Schema-Based Perspective”, Organization Science, 5 (3), p. 309–321.
  • Henneberg, Stephan C., Peter Naudé and Stefanos Mouzas (2010), “Sense-making and management in business networks—Some observations, considerations, and a research agenda”, Industrial Marketing Management, 39(3), p.355- 360.
  • Hermann, Margaret G., Bruce W. Dayton (2008), “Transboundary Crises through the Eyes of Policymakers: Sense Making and Crisis Management, ‘Surviving Future Disasters’ Conference Sponsored by the Stephenson Disaster Management Institute at Louisiana State University, New York, USA.
  • Isabella, Lynn A. (1990), “Evolving Interpretations as a Change Unfolds: How Managers Construe Key Organisational Events”, Academic Management of Journal, 33 (1), p.7–41.
  • Karaçor, Zeynep (2006), “Öğrenen Ekonomi Türkiye: Kasım 2000-Şubat 2001 Krizinin öğrettikleri”, Selçuk Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, (16).
  • Kaykusuz, Murat (2014), Geçmişten Günümüze Finansal Krizler (1619-2014), Ekin Kitabevi Yayınları, Bursa.
  • Mclarney, Carolan, Edward Chung (2000), “What Happened is Prologue: Creative Divergence and Corporate Culture Fabrication, Management Decision, 38 (6), p.410–419.
  • Mishkin, Frederic S. (1997), Understanding financial crises: a developing country perspective (No. w5600), National Bureau of Economic Research.
  • Önder, İzzettin (2009), “Küresel Kriz ve Türkiye Ekonomisi”, Muhasebe ve Finansman Dergisi, 42, 12-25.
  • Öniş, Ziya (2002), Argentine Crisis, IMF and the Limits of Neoliberal Globalization: A Comparative View from Turkey. IMF and the Limits of Neoliberal Globalization: A Comparative View from Turkey (October 2002). http://ssrn.com/abstract=350340, 02.07.2014
  • Özatay, Fatih (2009), Finansal Krizler ve Türkiye, Doğan Kitap, 1. Basım, İstanbul.
  • Posner, Richard A. (2008), Felaket Üzerine, Editör: Francis Fukuyama, Körnokta: Gelecek Senaryolarını Öngörmek, s.15-36, Profil Yayıncılık, İstanbul.
  • Rosier, Bernard (1991), İktisadi Kriz Kuramları, Çev: Nurhan Yentürk, İletişim Yayınları, İstanbul.
  • Savolainen, Reijo, (2006), “Information Use as Gap-Bridging: The Viewpoint of Sense-Making Methodology, Journal of the American Society for Information Science and Technology, 57 (8), p.1116-1125.
  • Selçuk, Bora (2010). “Küresel Krizin Türk Finans Sektörü Üzerindeki Etkileri”, Ekonomi Bilimleri Dergisi, Cilt 2, Sayı 2, s.21-27.
  • Sevim, Cüneyt (2012), Öncü Göstergeler Yaklaşımına Göre Finansal Krizler ve Türkiye Örneği, BDDK Kitapları No:11, Ankara.
  • Smerek, Ryan E. (2009), Sensemaking and Sensegiving: Leadership Processes of New College Presidents, Doctor of Philosophy in The University of Michigan.
  • Souto, Patrícia Cristina do Nascimento, Brenda Dervin and Reijo Savolainen (2012), “Designing For Knowledge Creation Work: An Exemplar Application Of Sense-Making Methodology”, Universidade de São Paulo, São Paulo, Brasil, RAI - Revista de Administração e Inovação, vol. 9, nşm. 2.
  • Steinthorsson, Runolfur Smari, Anders Söderholm (2002), “Strategic Management as Multi-Contextual Sensemaking in Intermediate Organisations, Scandinavian Journal of Management, 18 (2), p.233–248.
  • Summers, Lawrence H. (2000), “International Financial Crises: Causes, Prevention, and Cures”, American Economic Review, p.1-16.
  • Tarım, Emre (2009), “Tilly's Technical Accounts and Standard Stories Explored in Financial Markets: The Case of the Istanbul Stock Exchange”, Sociological Research Online, 14 (5), 21.
  • Tillmann, Katja, Andrew Goddard (2008), “Strategic Management Accounting and Sense-Making in a Multinational Company, Management Accounting Research, Vol. 19, Issue 1, p.80–102.
  • Weick, Karl E. (1988), “Enacted Sensemaking In Crisis Situations, Journal of Management Studies, 25:4, p.305-317.
  • Weick, Karl E. (1993), “The Collapse of Sensemaking in Organisations: the Gulch Mann Disaster”, Administrative Science Quarterly, 38 (4), p.628–652. Weick, K.E., (1995). “Sensemaking in Organizations
  • http://randrade.com.sapo.pt/cmeoSensemaking.pdf, 08.03.2014
  • Weinberg, Aaron, Emilie Wiesner and Timothy Fukawa-Connelly (2014), “Students’ sense-making frames in mathematics lectures”, The Journal of Mathematical Behavior, 33, p.168-179.
  • Yay, Turan; Gülsün G. Yay, Ensar Yılmaz (2001), Küreselleşme Sürecinde Finansal Krizler ve Finansal Düzenlemeler, İTO Yayınları No: 2001-47, İstanbul.
There are 41 citations in total.

Details

Primary Language Turkish
Journal Section Research Article
Authors

Türker Tuğsal This is me

Publication Date January 1, 2015
Published in Issue Year 2015 Volume: 3 Issue: 1

Cite

ISNAD Tuğsal, Türker. “Finansal Krizler Ve Anlamlandırma Teorisi: 2008 Krizine Retrospektif Bir Yaklaşım”. Siyaset, Ekonomi ve Yönetim Araştırmaları Dergisi 3/1 (January 2015), 111-124.