Browsing by Subject "Working capital"

Filter results by typing the first few letters
Now showing 1 - 2 of 2
  • Thumbnail Image
    ItemOpen Access
    Factoring as a complement to modern banking system: Turkish case
    (1993) Muratoğlu, Cem
    This study is to present factoring as a financing technique and to search its contributions to the bankiiig industry. For this reason a detailed research is done by analyzing the implementation of factoring all around the world. In addition, a real life case is studied in order to show that firms which have working capital deficits can overcome their problems when they cooperate with factoring firms and banks together. FACTORING IS A COMPLEMENT TO MODERN BANKING SYSTEM : The firm's (which incurred the problem of working capital in the real life case) financial structure and ongoing projects were analyzed in terms of liquidity, profitability, and eff iciency. Finally, it is concluded that the utilization of factoring only, may not be sufficient to solve the financial problems of the firms but instead it is a complemantary to the banking system as a valuable instrument.
  • Thumbnail Image
    ItemOpen Access
    The effects of working capital channel on monetary policy transmission
    (2023-07) Küçükikiz, Samed
    This thesis examines the effects of the working capital channel on monetary policy transmission under a two-sector new Keynesian model, where one of the sectors has working capital requirements. The model follows the framework presented by Woodford (2003). Introducing working capital into the model brings about two additional monetary policy transmission channels: the working capital channel and the substitution channel, relative to the standard new Keynesian model. The working capital channel reduces the effectiveness of monetary policy in stabilizing inflation within the model while also increasing the sensitivity of the output gap to monetary policy. Simultaneously, the substitution channel helps mitigate the impact of working capital on aggregate inflation. Moreover, the presence of the working capital channel gives rise to the distributional effects of monetary policy on the economy. The substitution channel exacerbates the adverse effect of contractionary policy on firms with working capital requirements, whereas expansionary monetary policy leads to a higher demand for the goods produced by these firms.