Aracı Kurumların Risk Haritası (Risk Maps of Securities Firms)

Coskun, Yener (2010): Aracı Kurumların Risk Haritası (Risk Maps of Securities Firms). Published in: Sermaye Piyasası Dergisi , Vol. 3, No. 1 (July 2010): pp. 52-74.

Abstract

The 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.

• Item Type: MPRA Paper
• English Title: Risk Maps of Securities Firms
• Language: Turkish
• Keywords: securities firms, risk, capital markets, Turkey
• Subjects: D - Microeconomics > D5 - General Equilibrium and Disequilibrium > D53 - Financial Markets; G - Financial Economics > G3 - Corporate Finance and Governance > G32 - Financing Policy ; Financial Risk and Risk Management ; Capital and Ownership Structure ; Value of Firms ; Goodwill; G - Financial Economics > G2 - Financial Institutions and Services > G24 - Investment Banking ; Venture Capital ; Brokerage ; Ratings and Ratings Agencies

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