KG financing methodology in maritime industry
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Tarih
2011
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
İstanbul Bilgi Üniversitesi
Erişim Hakkı
Attribution-NonCommercial-NoDerivs 3.0 United States
info:eu-repo/semantics/openAccess
info:eu-repo/semantics/openAccess
Özet
Bu çalısmanın esas amacı, Denizcilik sektöründe KG Finansman Metodolojisini, bu sistemin Almanya’da isleyisini göz önüne alarak arastırmak olacaktır. En önemli endüstrilerden biri olarak, denizcilik bankaların ve yatırımcıların dikkatleriniçekmeye devam ediyor. Dünyanın dört bir yanında hükümetler ve özel sektörün busektöre yatırım yapmak için istahları kaparmıs durumda.Yeni insalara olan talep artıkça, armatörler de dogrusal olarak tersanelerle daha fazlaanlasma yapacaklardır. Diger taraftan, finansmanlarını kimin yaptıgı konusunda endiseduydukları için, bu anlasmaları içeriden veya dısarıdan finanse etmek o kadar da kolayolmayacaktır. Burada esas amaç, borcu ve sermayeyi dengeleyerek firmanın sermayemaliyetini minimize etmek ve küresel marketlerde sermaye kaynagı yaratma kabiliyetiniartırarak sermaye girisini maximize etmek ve sermaye yaratmaktır. Bu açıdan, mevcutçalısma, kurum finansmanı teorisi, ekonomik kâr, optimal sermaye yapısı gibi konularıkapsayacak ve sonra düzenlemelerin önemi üzerinde yogunlasacaktır. Daha sonra iseAlmanya’daki sirketler incelenerek, maliyetlerini minimize etmeyi ve yatırımcılarakazandırmayı basarabilmisler mi incelenecektir. Ama hepsinden de önce, son dönemdeen büyük denizcilik merkezlerinden biri olan Almanya’da KG Finansman Metodolojisineden bu kadar çekici hale geldiginin mantıgını anlamaya çalısacagız ve yasananküresel finansal kriz, vergi sistemindeki degisikliklere baglı olarak bu fonlar basarılıolmaya devam mi edecekler yoksa avantajlarını kaybedecekler mi diye bakacagız.
The main objective of this paper is to investigate the KG Financing Methodology in Maritime Industry by examining the practice of this system in Germany.Being one of the most important industries, shipping keeps on getting the attraction of the investors and banks. Governments and private parties all over the world have a great appetite for investing in this industry.As the demand for the new vessels increases, the shipowners will contract more projects with the shipyards proportionally. On the other hand, it would not be so easy to finance them either internally or externally as they’re concerned with who provides their financing. Moreover, the main aim is minimizing the firm’s cost of capital by balancing debt and equity and maximizing its access to capital by increasing its ability to source equity in global markets. From this point of view, the present study will cover the issues such as the theory of corporate finance, economic profit, optimal capital structure and then focus on the importance of regulations .Later we will examine the shipping companies in Germany to see whether these firms succeeded to minimize their costs and increase the capital of the investors but first and foremost, we will try to understand the logic of why KG Financing Methodology in Germany has become very attractive in there cent decade and whether these funds will continue being successful or lose their advantages because of the changes in the taxation system and global financial crisis.
The main objective of this paper is to investigate the KG Financing Methodology in Maritime Industry by examining the practice of this system in Germany.Being one of the most important industries, shipping keeps on getting the attraction of the investors and banks. Governments and private parties all over the world have a great appetite for investing in this industry.As the demand for the new vessels increases, the shipowners will contract more projects with the shipyards proportionally. On the other hand, it would not be so easy to finance them either internally or externally as they’re concerned with who provides their financing. Moreover, the main aim is minimizing the firm’s cost of capital by balancing debt and equity and maximizing its access to capital by increasing its ability to source equity in global markets. From this point of view, the present study will cover the issues such as the theory of corporate finance, economic profit, optimal capital structure and then focus on the importance of regulations .Later we will examine the shipping companies in Germany to see whether these firms succeeded to minimize their costs and increase the capital of the investors but first and foremost, we will try to understand the logic of why KG Financing Methodology in Germany has become very attractive in there cent decade and whether these funds will continue being successful or lose their advantages because of the changes in the taxation system and global financial crisis.
