Aracı Kurumların Risk Haritası (Risk Maps of Securities Firms)
[Risk Maps of Securities Firms]
AbstractThe idea of development of capital markets and hence securities firms had resurfaced after 1980’s in Turkey, the latest and probably the final liberal period of Turkish economy. First regulations on securities firm business appaeard after Banking Crisis of 1982 (or Banker Crisis). The number of securities firms were dramatically increased in Turkey during the first half of the 1990’s. But it has observed that the number has gradually decreased after this periodic movement. This tendency is still going on in the securities firm business (Coşkun, 2009a: 2). In this process, some argue that risk management problems were relatively less important in the failed securities firms. But, because of the problems of data availability and lack of proper reporting, it would be too optimistic to assume that all securities firm failures in the above period were related to market conditions. In this context, it is important to define specific risks of securities firms. To define sector specific risks is also important to develop ideal risk management framework for securities firms. Therefore, in this article, the author analyses the features of the securities firm business, typical balance sheet and industry specific risks.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 28368.
Date of creation: Jul 2010
Date of revision:
Publication status: Published in Sermaye Piyasası Dergisi 1.3(2010): pp. 52-74
securities firms; risk; capital markets; Turkey;
Find related papers by JEL classification:
- D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
- G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-02-05 (All new papers)
- NEP-ARA-2011-02-05 (MENA - Middle East & North Africa)
- NEP-CSE-2011-02-05 (Economics of Strategic Management)
- NEP-HIS-2011-02-05 (Business, Economic & Financial History)
- NEP-RMG-2011-02-05 (Risk Management)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Dimson, Elroy & Marsh, Paul, 1995. " Capital Requirements for Securities Firms," Journal of Finance, American Finance Association, vol. 50(3), pages 821-51, July.
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