Yazar "Atay, Erhan" seçeneğine göre listele
Listeleniyor 1 - 12 / 12
Sayfa Başına Sonuç
Sıralama seçenekleri
Öğe Aktife Dayalı Menkul Kıymetler: Türkiye ve Dünya Uygulaması(Trakya Üniversitesi, 2019) Atay, Erhan; Gülen, Meryem İnciKüreselleşme ile birlikteson yıllarda finansal piyasalarda yaşanan gelişmeler beraberinde birtakımyenilikleri meydana getirmiştir. Finansal varlıkların menkul kıymetleştirilereksermaye piyasalarındaki yatırımcılara satılması bu yeniliklerden en önemlisiolarak karşımıza çıkmaktadır. Modern finans sisteminin önemli bir yeniliğiolarak karşımıza çıkan menkul kıymetleştirme ile likit olmayan aktif kalemleri,likit hale dönüştürülmekte ve böylece finans piyasalarına ilave fonsağlanmaktadır. Finansal açıdan önemli bir yere sahip olan menkulkıymetleştirme, 1970’li yıllarda uluslararası finans piyasalarında meydanagelen değişimler neticesinde geleneksel bankacılığın yerine tercih edilenönemli bir olgu olarak ortaya çıkmıştır. İlk menkul kıymetleştirme uygulamaları,Amerika Birleşik Devletleri (ABD)’nde mortgage kredilerinin menkulkıymetleştirilmesi ile başlamıştır. İlk ipotek dışı varlığa dayalı menkulkıymet uygulaması ise, 1985 yılında finansal kiralama sözleşmelerinden doğanalacakların menkul kıymetleştirilmesi ile olmuştur. Günümüzde otomobilkredileri, kredi kartı alacakları, finansal kiralamada ekipman (donanım)kiraları, öğrenci kredileri, ticari alacaklar, ihracat işlemelerinden doğanalacaklar menkul kıymetleştirilen diğer aktif varlık ürünleri arasında yeralmaktadır. Bu çalışmanın amacı, yeni bir finansman tekniği olan menkulkıymetleştirme kavramının ve menkul kıymetleştirme işlemlerinden biri olanaktife dayalı menkul kıymetlerin Türkiye’deki ve dünyadaki uygulamalarınınincelenmesidir. Bu kapsamda, menkul kıymetleştirmenin işlem gördüğü sermayepiyasalarının yapısı ve bu piyasalarda işlem gören menkul kıymetler hakkındagenel olarak bilgi verilmiş, ardından menkul kıymetleştirmenin tanımı vegelişimi ele alınmıştır. Çalışmanın son bölümünde ise, menkul kıymetleştirmetürlerinden biri olan aktife dayalı menkul kıymetleştirme işlemlerinin tanımıyapılarak, aktif menkul kıymetleştirmesinin Türkiye ve dünya uygulamalarıliteratür açısından incelenmiş, konu ile ilgili önerilere yer verilmiştir.Öğe Amerika Birleşik Devletleri ve Avrupa Birliği’nde Menkul Kıymetleştirme: Türkiye’de Uygulanabilir Mi?(Trakya Üniversitesi, 2012) Atay, Erhan; Taşçı, CelalSecuritization is a process in which different assets or portfolios of cash owngenerating securities are pooled together and then sold to third parties. Recent globalfinancial crisis demonstrate the need to create and implement regulatory frameworksthat balance financial markets. In this context, Europeans have watched inbewilderment and amazement as the USA mortgage market cratered.The purpose of this article is to research the differences of securitisationbetween the USA and the European Union from a macroeconomic perspective.There is considerable evidence that securitisation in the USA and the EU indicatestructural differences. Securitisation in most of the economies in the world is anattractive 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 fundsare transferred to homebuyers over the capital markets. The lack of a modernhousing finance system in Turkey prevents from taking advantage of these widelyavailable funds and services.In this regard, another objective is to capture key trends for the securitisationin Turkey via secondary mortgage markets. The Mortgage Law was approved inMarch 2007 by the Turkish Grand Nation Assembly. This law encouragessecuritisations of mortgage loans in the best advantages of the financial systems andthe borrowers. Because of its benefits; further encouragement should be provided forpromoting securitisation in TurkeyÖğe Bankacılık Sektöründe Operasyonel Riskin Minimize Edilmesi ve Altı Sigma Uygulamaları(Trakya Üniversitesi, 2009) Apak, Sudi; Atay, ErhanSix Sigma methodology and its tools are becoming very popular for the improvement of key processes of organizations. Companies which try to survive and get a slice from the huge markets in this environment should meet the customer requirements fully and even more than the customers' expectations with zero defects, quick and as the cheapest. By focusing on the improvement of processes on both a strategic and tactical level, Six Sigma has enabled clients to achieve extraordinary financial benefits are achieved by increasing quality, minimizing operation costs, encouraging innovation, deepening customer relationships, and strengthening corporate cultures. In recent years risk management has turned out to be the key factor that determines the existence of financial institutions. Operational risk has become the main topic of risk management agenda especially after the occurrence of wellpublicized high impact loss event during 1990s. Amid increased size and complexity of Banking industry operational risk has a greater potential to transpire in more harmful ways than many other sources of risk. According to the last proposal by Basel Committee, commercial banks are allowed to use advanced measurement approach for operational risk.Öğe Financial risk management in renewable energy sector: Comparative analysis between the European Union and Turkey(Elsevier Science Bv, 2011) Apak, Sudi; Atay, Erhan; Tuncer, GungorRenewable energy is clean sources of energy that have a much lower environmental impact than conventional energy technologies. Renewable energy sector plays a very important role in the strategic energy planning process in any country. Most renewable energy investments are spent on materials and workmanship to build and maintain the facilities, rather than on costly energy imports. In this context, renewable energy provides innovative, cost effective renewable energy risk management and insurance programmes, helping this increasingly competitive industry meet the challenges it faces. At the same time, the speed of change in renewable energy technology requires specialists able to provide expert risk advice and insurance broking services. Meanwhile, focus on the renewable energy sector has never been higher, with governments around the world setting tough targets for the amount of energy provided by renewable sources. The main aim of this paper is to examine the financial risk management instruments that are evolving to meet the needs of the renewable energy sector in both the EU and Turkey. Finally, we provide the research findings according to our objective and discuss their managerial and theoretical implications related to renewable energy investments. (C) 2011 Published by Elsevier Ltd. Selection and/or peer-review under responsibility 7th International Strategic Management ConferenceÖğe Global competitiveness in the EU through green innovation technologies and knowledge production(Elsevier Science Bv, 2015) Apak, Sudi; Atay, ErhanIn information age, technological innovation rather than investment per se become the main source of increased productivity, the major tool of economic competition in the world market. From the public perspective, government programs can rely on technological innovation in order to increase the quality of goods produced. However this introduces another types of market failure since the distribution of production costs is not efficient. Thus, a public firm may be a useful policy instrument, although with certain limitations. On the other hand; knowledge can be created by individual or group action. Technological knowledge accumulation is commonly accepted as a vital force of economic development. This paper presents a research related to the knowledge production processe as the basic requirements of the green innovation activities especially and the international competitiveness. Quality of products is considered as the best guarantee for long-term competitiveness of firms and countries. Innovations are much more regionally concentrated than other economic activities and they are clustered within certain sectors and locations. The main aim of the work is to draw a picture of the EU countries performances at the sector level in terms of innovative green technology, economic productivity and environmental efficiency. In addition, the paper draws a conclusion that competitiveness factors change according to type of sectors or economic structures of the EU countries. This gives us some clues; why the green innovation and technologies considered as the important stages for the companies that seek to gain international the competitiveness in global markets. Now that EU integration is entering its ultimate economic and monetary union phase, we conclude that EU policy should start to reassess the needs for a green technology policy institutional framework more directly aimed at removing the remaining European barriers to knowledge distribution. Finally, specific sector performances such as innovative, environmental, and economic, are crucial to the future competitiveness and achievement of environmental targets in the EUÖğe Global Innovation and Knowledge Management Practice in Small and Medium Enterprises (SMEs) in Turkey and the Balkans(Elsevier Science Bv, 2014) Apak, Sudi; Atay, ErhanIn today's changing world innovation management is becoming one of the key drivers for change and competitive advantage within industry. SMEs need to respond rapidly to these emerging changes so as to fulfill their customer needs more rapidly. The key component of a knowledge economy is a greater reliance on intellectual capabilities than on physical inputs or natural resources. We provide evidence drawn from patent data to document and upsurge in knowledge production and show that this expansion is driven by the emergence of new industries. Economic and political relations between Balkan countries and Turkey are so important that their common socio-cultural values come from their history. Therefore, Turkey and Balkans have not stepped into knowledge economy yet. In order to achieve this, they have to accomplish their economy and should not miss the importance of the knowledge economy. In this context, the Balkans has always been at a crossroads of different cultures and civilizations, where different religions and people have existed side by side. Economically, the Balkan states are relatively small entities. Balkan countries are at different levels of democratic transformation and their per capita GDPs range from less than 2000 Euro to around 7000 Euro. The purpose of this article is to investigate knowledge management practice in Turkey and the Balkans. Knowledge-based economic approach becomes the main development leverage for the global economy that a challenge for these regions is realizing the 'new value' of knowledge. (C) 2014 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/3.0/).Öğe A look at the EU countries' carbon dioxide emissions and Turkey's sustainable industrial growth(Elsevier Science Bv, 2013) Apak, Sudi; Atay, ErhanThe relationship between energy and sustainable economic growth has always been close. Sustainable industrial growth has a strong focus on greening industry through six priority action lines, including technologies for clean production, bin-based product markets and sustainable raw material use. In this context, the environmental industry has been identified as one of the most promising areas of specialization and green technologies are at the core of the areas which should lay the foundation of the new industrial revolution in the European Union. Renewable energy, nowadays also used as alternative energy, is the new phenomenon on the way for sustainable industrial development and for an environmentally integrated energy policy. It is also the most probable way for the EU countries to meet their Kyoto targets when producing energy. Most environmental technology investment projects come from the renewable energy industry, followed by the industtial machinery industry, the electronic components industry and the turbines and engines industry. The EU is a major host of green technology projects with a share of 46% in 2011. According to the International Energy Agency (IEA), energy use in Turkey is expected to double over the next decade, while electricity demand growth is expected to increase at an even faster pace. Meeting this level of growth will require significant industrial investment in the renewable energy sector, much of which will come from the private sector. Recently, renewable energy awareness has made great strides both in the EU and Turkey. Therefore, the import-substitution development strategy followed up to 1980 was designed to make Turkey an independent producer of manufactured goods. Meanwhile, one of the potential negative sides of industrialization in Turkey would be significant increase in CO(2)emissions. Finally, the main objective of the paper is to investigate how to allocate sustainable industrial sources to effectively meet targets of environmental protection in the EU and its candidate member Turkey.(C) 2013 The Authors. Published by Elsevier Ltd. Open access under CC BY-NC-ND license.Öğe New innovative activities in renewable energy technologies and environmental policy: evidence from an EU candidate country(Elsevier Science Bv, 2012) Apak, Sudi; Atay, Erhan; Tuncer, GungorInnovative products, services, and business models can benefit the environment by reducing the pressure on natural resources and/or the emission of pollutants. At the same time, environmentally friendly innovation can foster economic development. It is likely that to solve an environmental problem like climate change, which is caused by emissions from virtually all economic sectors, we need innovations that can be of relevance to multiple sectors or the whole economy as well as systemic innovations requiring complementary changes rather than autonomous ones. Our goal in this article is to answer the following research questions: what are the institutional factors that facilitate the diffusion of an international management standard in the area of the renewable energy? The most desirable task of all the economies perhaps is to strive for environmentally sustainable economic growth. In this context, renewable energy will be the mainstream source of the EU's energy supply by 2050. Turkey has great potential in terms of renewable energy sources. However, public and political support is missing. The other unwanted situation is that although Turkey consumes less energy than EU countries, we have a huge population and high economic development. The management of energy demand should be strictly taken into consideration. Regarding the policy effects, the paper examines renewable energy policies of the EU and Turkey as a candidate country. Finally, the paper argues that Turkey has to make renewable energy the mainstream source of its energy system.Öğe An overview of GDP and internet banking relations in the European Union versus China(Elsevier Science Bv, 2013) Atay, Erhan; Apak, SudiAfter 1995 the Internet diffused rapidly throughout the world economy. A strong banking sector is important to every country to stimulate economic growth and maintain financial stability for the whole financial system. Hence, information and technological revolution motivated banks to spend more on technology to maximize return and attract more customers who will not accept less than above-average services. The European Union has long sought to create a single financial area across Europe where consumers in one country benefit from banking sector in other countries. With the emergence of the Internet as a platform for the provision of e-banking services, the creation of a pan-European market for banking services appeared a realistic proposition. Moreover, in spite of the long-term profitability challenges, most major banks in EU have invested and are still investing in providing Internet banking services as a new cost-effective delivery channel, driven by cost reduction, market share increase and customer retention targets. Therefore, the Chinese banking industry is not generally well understood since it had enjoyed a strong government protection from foreign competitors over a long period of time. Although internet banking in China has experienced a significant growth in the past for several years, it is still regarded in its early stage of development compared to the internet banking adoption and utilization rate in the developed nations. Finally, good economic conditions affect banking sector performance positively. The bank should benefit from conditions associated with economic boom as possible to mitigate the negative effects that may be faced by the bank during the economic recession. In the light of these facts, this paper discusses how the Internet is creating new applications for banking services. (C) 2013 The Authors. Published by Elsevier Ltd. Open access under CC BY-NC-ND license.Öğe Renewable hydrogen energy and energy efficiency in Turkey in the 21st century(Pergamon-Elsevier Science Ltd, 2017) Apak, Sudi; Atay, Erhan; Tuncer, GungorEarth does not have an equal distribution of energy sources. Despite the advances in renewable energy, fossil fuels seem to continue to dominate the energy sector in near future. Hydrogen energy is seen as a renewable power system that is an alternatively convenient storage and transmission vector. The present study aims to contribute to the discussion on the implementation of the hydrogen power plants through encouraging state sector investments in renewable energy and private sector investments in hydrogen energy. In this respect, the contribution of hydrogen energy to energy efficiency is that it can reveal the potential of suitable and sustainable energy as a natural source at a competitive price in the future. The study also aims to contribute to energy efficiency by emphasizing the significance of maintaining an international strategic planning process for public and private sector officials to accelerate the effective development of the hydrogen economy infrastructure. The study also underlines that it is essential for the governments to encourage initiatives concerning renewable energy and fuel cell in the process of transition to hydrogen economy in the 21st century. (C) 2016 Hydrogen Energy Publications LLC. Published by Elsevier Ltd. All rights reserved.Öğe Renewable hydrogen energy regulations, codes and standards: Challenges faced by an EU candidate country(Pergamon-Elsevier Science Ltd, 2012) Apak, Sudi; Atay, Erhan; Tuncer, GungorThe European Union is one of the most important players in the field of world energy with an integrated and well-organized energy market. However, energy policies in the EU are not sustainable. The EU is the world's largest importer of fossil fuels and is leading global action in accelerating the transition to renewable energy and low-carbon economy at present. Renewables make the second-largest contribution to domestic energy production after coal. This paper focuses on the institutional, public policy and business practice aspects in terms of hydrogen energy infrastructure development and the regulations in the context of planning and construction for hydrogen energy infrastructure. In the paper, the current status of these aspects are discussed as well as future directions with a focus on how these experiences can be applied in order to boost industrial innovation in hydrogen technologies and to facilitate its subsequent development. This paper also analyzes the current state of the regulation of the hydrogen energy sector in the EU and its candidate country, Turkey. Although hydrogen offers advantages to society, it has not been perceived by the individual consumer yet. It is clear that hydrogen energy presents neither financial nor technological problems. The barriers to the hydrogen energy are not technical but the mindset, regulatory and political interferences are the source of the problems. Copyright (C) 2012, Hydrogen Energy Publications, LLC. Published by Elsevier Ltd. All rights reserved.Öğe Securitization in the unıted states of amerıca and the european unıon: Does it work in turkey?(2012) Atay, Erhan; Taşçı, CelalMenkul 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.
