{"id":61527,"date":"2023-12-04T11:22:52","date_gmt":"2023-12-04T02:22:52","guid":{"rendered":"https:\/\/monolith.law\/tr\/?p=61527"},"modified":"2024-03-14T16:16:06","modified_gmt":"2024-03-14T07:16:06","slug":"method-of-raising-funds-for-stock-company","status":"publish","type":"post","link":"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company","title":{"rendered":"\u015eirketlerin Nas\u0131l Fon Sa\u011flad\u0131\u011f\u0131na Dair: \u00dc\u00e7\u00fcnc\u00fc Taraf Tahsis Art\u0131\u015f\u0131 D\u0131\u015f\u0131ndaki T\u00fcm Y\u00f6ntemlerle Kapsaml\u0131 Bir A\u00e7\u0131klama"},"content":{"rendered":"\n<p> Giri\u015fim \u015firketleri ve benzerlerinin sermaye toplama y\u00f6ntemleri aras\u0131nda, VC ve benzeri yat\u0131r\u0131mc\u0131lardan yat\u0131r\u0131m al\u0131p kendi hisselerini \u00e7\u0131karmak gibi y\u00f6ntemlerin s\u0131kl\u0131kla d\u00fc\u015f\u00fcn\u00fcld\u00fc\u011f\u00fcn\u00fc d\u00fc\u015f\u00fcn\u00fcyorum. Ancak, giri\u015fim \u015firketleri ve benzerlerinin sermaye toplama y\u00f6ntemleri aras\u0131nda, yat\u0131r\u0131m al\u0131p hisse \u00e7\u0131karmak d\u0131\u015f\u0131nda da \u00e7e\u015fitli y\u00f6ntemler bulunmaktad\u0131r. Bu nedenle, bu makalede, bir \u015firketin sermaye toplama y\u00f6ntemlerini a\u00e7\u0131kl\u0131yoruz. <\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_53 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Dusunulebilecek_Fon_Yaratma_Yontemleri\" title=\"D\u00fc\u015f\u00fcn\u00fclebilecek Fon Yaratma Y\u00f6ntemleri\">D\u00fc\u015f\u00fcn\u00fclebilecek Fon Yaratma Y\u00f6ntemleri<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Varlik_Finansmani_Asset_finance_Hakkinda\" title=\"Varl\u0131k Finansman\u0131 (Asset finance) Hakk\u0131nda\">Varl\u0131k Finansman\u0131 (Asset finance) Hakk\u0131nda<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Varlik_Finansmaninin_Avantajlari\" title=\"Varl\u0131k Finansman\u0131n\u0131n Avantajlar\u0131\">Varl\u0131k Finansman\u0131n\u0131n Avantajlar\u0131<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Sermaye_Toplama_Maliyetini_Azaltabilir\" title=\"Sermaye Toplama Maliyetini Azaltabilir\">Sermaye Toplama Maliyetini Azaltabilir<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Sirket_Degerini_Artirabilir\" title=\"\u015eirket De\u011ferini Art\u0131rabilir\">\u015eirket De\u011ferini Art\u0131rabilir<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Varlik_Finansmaninin_Dezavantajlari\" title=\"Varl\u0131k Finansman\u0131n\u0131n Dezavantajlar\u0131\">Varl\u0131k Finansman\u0131n\u0131n Dezavantajlar\u0131<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Paraya_Donusturulebilecek_Varlik_Yoksa_Uygulanamaz\" title=\"Paraya D\u00f6n\u00fc\u015ft\u00fcr\u00fclebilecek Varl\u0131k Yoksa Uygulanamaz\">Paraya D\u00f6n\u00fc\u015ft\u00fcr\u00fclebilecek Varl\u0131k Yoksa Uygulanamaz<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Paraya_Donusturulecek_Varliklarin_Secimi_Zor_Olabilir\" title=\"Paraya D\u00f6n\u00fc\u015ft\u00fcr\u00fclecek Varl\u0131klar\u0131n Se\u00e7imi Zor Olabilir\">Paraya D\u00f6n\u00fc\u015ft\u00fcr\u00fclecek Varl\u0131klar\u0131n Se\u00e7imi Zor Olabilir<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Borc_Finansmani_Debt_Finance_Hakkinda\" title=\"Bor\u00e7 Finansman\u0131 (Debt Finance) Hakk\u0131nda\">Bor\u00e7 Finansman\u0131 (Debt Finance) Hakk\u0131nda<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Borc_Finansmaninin_Avantajlari\" title=\"Bor\u00e7 Finansman\u0131n\u0131n Avantajlar\u0131\">Bor\u00e7 Finansman\u0131n\u0131n Avantajlar\u0131<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Yonetim_haklarina_etkisi_olmayan_hisse_orani_degisiklikleri\" title=\"Y\u00f6netim haklar\u0131na etkisi olmayan hisse oran\u0131 de\u011fi\u015fiklikleri\">Y\u00f6netim haklar\u0131na etkisi olmayan hisse oran\u0131 de\u011fi\u015fiklikleri<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Krediye_baglanma_olasiligi\" title=\"Krediye ba\u011flanma olas\u0131l\u0131\u011f\u0131\">Krediye ba\u011flanma olas\u0131l\u0131\u011f\u0131<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Vergi_indirimi_etkisi_bekleniyor\" title=\"Vergi indirimi etkisi bekleniyor\">Vergi indirimi etkisi bekleniyor<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Sermaye_toplama_kolay\" title=\"Sermaye toplama kolay\">Sermaye toplama kolay<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Borc_Finansmaninin_Dezavantajlari\" title=\"Bor\u00e7 Finansman\u0131n\u0131n Dezavantajlar\u0131\">Bor\u00e7 Finansman\u0131n\u0131n Dezavantajlar\u0131<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Bilancodaki_borc_artar\" title=\"Bilan\u00e7odaki bor\u00e7 artar\">Bilan\u00e7odaki bor\u00e7 artar<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Geri_odeme_yapilmasi_gerekiyor\" title=\"Geri \u00f6deme yap\u0131lmas\u0131 gerekiyor\">Geri \u00f6deme yap\u0131lmas\u0131 gerekiyor<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Faiz_odemesi_gerekiyor\" title=\"Faiz \u00f6demesi gerekiyor\">Faiz \u00f6demesi gerekiyor<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Equity_Finance_Ozsermaye_Finansmani_Hakkinda\" title=\"Equity Finance (\u00d6zsermaye Finansman\u0131) Hakk\u0131nda\">Equity Finance (\u00d6zsermaye Finansman\u0131) Hakk\u0131nda<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Ozsermaye_Finansmaninin_Avantajlari\" title=\"\u00d6zsermaye Finansman\u0131n\u0131n Avantajlar\u0131\">\u00d6zsermaye Finansman\u0131n\u0131n Avantajlar\u0131<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Faiz_odeme_zorunlulugu_yoktur\" title=\"Faiz \u00f6deme zorunlulu\u011fu yoktur\">Faiz \u00f6deme zorunlulu\u011fu yoktur<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Ger_odeme_yapma_zorunlulugu_yoktur\" title=\"Ger \u00f6deme yapma zorunlulu\u011fu yoktur\">Ger \u00f6deme yapma zorunlulu\u011fu yoktur<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Sermaye_arttigi_icin_mali_durum_guclendirilebilir\" title=\"Sermaye artt\u0131\u011f\u0131 i\u00e7in mali durum g\u00fc\u00e7lendirilebilir\">Sermaye artt\u0131\u011f\u0131 i\u00e7in mali durum g\u00fc\u00e7lendirilebilir<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Ozsermaye_Finansmaninin_Dezavantajlari\" title=\"\u00d6zsermaye Finansman\u0131n\u0131n Dezavantajlar\u0131\">\u00d6zsermaye Finansman\u0131n\u0131n Dezavantajlar\u0131<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Yonetim_hakkinda_etkisi_vardir\" title=\"Y\u00f6netim hakk\u0131nda etkisi vard\u0131r\">Y\u00f6netim hakk\u0131nda etkisi vard\u0131r<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Fon_saglama_kolay_olmayabilir\" title=\"Fon sa\u011flama kolay olmayabilir\">Fon sa\u011flama kolay olmayabilir<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/method-of-raising-funds-for-stock-company\/#Ozet\" title=\"\u00d6zet\">\u00d6zet<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Dusunulebilecek_Fon_Yaratma_Yontemleri\"><\/span>D\u00fc\u015f\u00fcn\u00fclebilecek Fon Yaratma Y\u00f6ntemleri<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>D\u00fc\u015f\u00fcn\u00fclebilecek fon yaratma y\u00f6ntemleri genel olarak a\u015fa\u011f\u0131daki \u015fekillerde olabilir:<\/p>\n\n\n\n<ul>\n<li>\u015eirketin varl\u0131klar\u0131n\u0131 satma vb. yollarla fon yaratma y\u00f6ntemi (Varl\u0131k Finansman\u0131)<\/li>\n\n\n\n<li>Para bor\u00e7 alarak fon yaratma y\u00f6ntemi (Bor\u00e7 Finansman\u0131)<\/li>\n\n\n\n<li>VC vb. yat\u0131r\u0131mc\u0131lardan yat\u0131r\u0131m alarak fon yaratma y\u00f6ntemi (\u00d6zsermaye Finansman\u0131)<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Varlik_Finansmani_Asset_finance_Hakkinda\"><\/span>Varl\u0131k Finansman\u0131 (Asset finance) Hakk\u0131nda<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2020\/01\/shutterstock_1220527444-1024x683.jpg\" alt=\"\" class=\"wp-image-6838\" \/><figcaption class=\"wp-element-caption\">Varl\u0131k Finansman\u0131n\u0131n Avantajlar\u0131 ve Dezavantajlar\u0131 Nelerdir?<\/figcaption><\/figure>\n\n\n\n<p>Varl\u0131k finansman\u0131, giri\u015fimler gibi \u015firketlerin, \u015firket varl\u0131klar\u0131n\u0131 sat\u0131\u015f gibi y\u00f6ntemlerle sermaye toplamas\u0131n\u0131 ifade eder. Varl\u0131k finansman\u0131nda sat\u0131\u015f\u0131 d\u00fc\u015f\u00fcn\u00fclebilecek varl\u0131klar aras\u0131nda gayrimenkul, menkul k\u0131ymetler, stoklar, m\u00fc\u015fterilere olan alacaklar, makine ve ekipmanlar, ara\u00e7lar, telif haklar\u0131 veya patent haklar\u0131 bulunabilir.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Varlik_Finansmaninin_Avantajlari\"><\/span>Varl\u0131k Finansman\u0131n\u0131n Avantajlar\u0131<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Sermaye_Toplama_Maliyetini_Azaltabilir\"><\/span>Sermaye Toplama Maliyetini Azaltabilir<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Varl\u0131k finansman\u0131n\u0131n avantajlar\u0131ndan biri, sermaye toplama maliyetini azaltabilme yetene\u011fidir. Varl\u0131klar\u0131 satarken, sat\u0131\u015fla ilgili b\u00fcy\u00fck maliyetler olu\u015fmaz, bu nedenle sonu\u00e7 olarak sermaye toplama maliyetini azaltabilirsiniz.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Sirket_Degerini_Artirabilir\"><\/span>\u015eirket De\u011ferini Art\u0131rabilir<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Varl\u0131k finansman\u0131n\u0131n bir di\u011fer avantaj\u0131, kiralama bilan\u00e7osunda, hedef varl\u0131klar\u0131 azalt\u0131p nakit ve mevduat\u0131 art\u0131rabilme yetene\u011fidir. Bu, \u015firket de\u011ferini art\u0131rma potansiyeli sa\u011flar.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Varlik_Finansmaninin_Dezavantajlari\"><\/span>Varl\u0131k Finansman\u0131n\u0131n Dezavantajlar\u0131<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Paraya_Donusturulebilecek_Varlik_Yoksa_Uygulanamaz\"><\/span>Paraya D\u00f6n\u00fc\u015ft\u00fcr\u00fclebilecek Varl\u0131k Yoksa Uygulanamaz<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Varl\u0131k finansman\u0131n\u0131n dezavantajlar\u0131ndan biri, paraya d\u00f6n\u00fc\u015ft\u00fcr\u00fclebilecek bir varl\u0131k olmamas\u0131 durumunda uygulanamamas\u0131d\u0131r. Bu nedenle, varl\u0131klar\u0131 az olan giri\u015fimler i\u00e7in bu sermaye toplama y\u00f6ntemi zor olabilir.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Paraya_Donusturulecek_Varliklarin_Secimi_Zor_Olabilir\"><\/span>Paraya D\u00f6n\u00fc\u015ft\u00fcr\u00fclecek Varl\u0131klar\u0131n Se\u00e7imi Zor Olabilir<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Ayr\u0131ca, sermaye toplamaya \u00e7ok odaklan\u0131ld\u0131\u011f\u0131nda, asl\u0131nda sat\u0131lmamas\u0131 gereken varl\u0131klar\u0131n sat\u0131lma ihtimali de vard\u0131r. Bu nedenle, varl\u0131k finansman\u0131 uygulan\u0131rken, sat\u0131\u015f yap\u0131lacak varl\u0131klar\u0131n olup olmad\u0131\u011f\u0131 ve varsa, ger\u00e7ekten sat\u0131labilecek varl\u0131klar olup olmad\u0131\u011f\u0131 konusunda dikkatli bir de\u011ferlendirme yap\u0131lmas\u0131 gerekmektedir.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Borc_Finansmani_Debt_Finance_Hakkinda\"><\/span>Bor\u00e7 Finansman\u0131 (Debt Finance) Hakk\u0131nda<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Bor\u00e7 finansman\u0131, banka bor\u00e7lar\u0131 veya tahvil ihra\u00e7lar\u0131 gibi bor\u00e7lar (Debt) ile sermaye toplama i\u015flemidir. Sendikasyon kredileri veya \u00f6zel tahvil ihra\u00e7lar\u0131 da bor\u00e7 finansman\u0131n\u0131n bir \u00f6rne\u011fi olarak kabul edilir.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Borc_Finansmaninin_Avantajlari\"><\/span>Bor\u00e7 Finansman\u0131n\u0131n Avantajlar\u0131<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Bor\u00e7 finansman\u0131n\u0131n avantajlar\u0131 a\u015fa\u011f\u0131daki gibi d\u00fc\u015f\u00fcn\u00fclebilir:<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Yonetim_haklarina_etkisi_olmayan_hisse_orani_degisiklikleri\"><\/span>Y\u00f6netim haklar\u0131na etkisi olmayan hisse oran\u0131 de\u011fi\u015fiklikleri<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Sonradan a\u00e7\u0131klanacak olan \u00f6z sermaye finansman\u0131nda, hisse senedi ihra\u00e7lar\u0131 gibi i\u015flemler nedeniyle hisse oran\u0131nda de\u011fi\u015fiklikler ve y\u00f6netim haklar\u0131na etkiler olu\u015fabilir. Ancak bor\u00e7 finansman\u0131nda, bor\u00e7 ile sermaye topland\u0131\u011f\u0131 i\u00e7in hisse oran\u0131nda bir de\u011fi\u015fiklik olmaz ve y\u00f6netim haklar\u0131na bir etkisi olmaz. Y\u00f6netim i\u00e7in, sermaye toplama i\u015flemi s\u0131ras\u0131nda y\u00f6netim haklar\u0131n\u0131n etkilenmemesi ve \u00f6zg\u00fcrce y\u00f6netim yapabilme imkan\u0131, bor\u00e7 finansman\u0131n\u0131n bir avantaj\u0131d\u0131r.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Krediye_baglanma_olasiligi\"><\/span>Krediye ba\u011flanma olas\u0131l\u0131\u011f\u0131<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Bor\u00e7 finansman\u0131, bor\u00e7 ile sermaye toplad\u0131\u011f\u0131 i\u00e7in, \u015firketin geri \u00f6deme yapmas\u0131 gerekmektedir. Bor\u00e7 finansman\u0131 ile al\u0131nan bor\u00e7lara kar\u015f\u0131 d\u00fczg\u00fcn bir geri \u00f6deme yap\u0131l\u0131rsa, bu durum \u015firketin d\u00fczg\u00fcn bir \u015fekilde geri \u00f6deme yapaca\u011f\u0131na dair bir krediye ba\u011flanabilir. Bu durum, finans kurumlar\u0131ndan b\u00fcy\u00fck miktarda kredi al\u0131rken, onay s\u00fcrecinin daha kolay olmas\u0131n\u0131 sa\u011flar ve bu durum \u015firket i\u00e7in bir avantajd\u0131r.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Vergi_indirimi_etkisi_bekleniyor\"><\/span>Vergi indirimi etkisi bekleniyor<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Bor\u00e7 finansman\u0131nda, genellikle sermaye sa\u011flay\u0131c\u0131ya faiz \u00f6denir. Bor\u00e7 finansman\u0131 s\u0131ras\u0131nda \u00f6denen faiz, muhasebe i\u015flemlerinde gider olarak i\u015flenebilir, bu da verginin daha d\u00fc\u015f\u00fck olmas\u0131n\u0131 sa\u011flar. Sadece vergi a\u00e7\u0131s\u0131ndan d\u00fc\u015f\u00fcn\u00fcld\u00fc\u011f\u00fcnde, bu durum \u015firket i\u00e7in bir avantajd\u0131r.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Sermaye_toplama_kolay\"><\/span>Sermaye toplama kolay<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u00d6ncelikle, sermaye sa\u011flay\u0131c\u0131 taraf\u0131ndan bak\u0131ld\u0131\u011f\u0131nda, \u015firketin kredi durumuna g\u00f6re sermaye miktar\u0131n\u0131 belirleyebilir, bu da b\u00fcy\u00fck bir risk olmadan sermaye toplama imkan\u0131 sa\u011flar.<br>Bu \u015fekilde, sermaye sa\u011flay\u0131c\u0131 taraf\u0131n\u0131n riski d\u00fc\u015f\u00fck oldu\u011fu i\u00e7in, sermaye sa\u011flama karar\u0131 daha kolay al\u0131n\u0131r ve \u015firket daha kolay sermaye sa\u011flay\u0131c\u0131 bulabilir. Bu nedenle, bor\u00e7 finansman\u0131nda, sermaye toplama daha kolayd\u0131r ve bu durum bor\u00e7 finansman\u0131n\u0131n bir avantaj\u0131d\u0131r.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Borc_Finansmaninin_Dezavantajlari\"><\/span>Bor\u00e7 Finansman\u0131n\u0131n Dezavantajlar\u0131<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Bilancodaki_borc_artar\"><\/span>Bilan\u00e7odaki bor\u00e7 artar<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Yukar\u0131da belirtildi\u011fi gibi, bor\u00e7 finansman\u0131 ile vergi indirimi etkisi beklenir, ancak bunun yan\u0131nda, bilan\u00e7odaki bor\u00e7 artar. \u015eirketler genellikle bor\u00e7 alt\u0131ndad\u0131r, ancak bor\u00e7 oran\u0131 \u00e7ok y\u00fcksek olursa, rakamlar \u015firketin iyi y\u00f6netilmedi\u011fi izlenimini verebilir. Bu nedenle, bor\u00e7 finansman\u0131 ile bilan\u00e7odaki bor\u00e7 artar ve bu durum bor\u00e7 finansman\u0131n\u0131n bir dezavantaj\u0131d\u0131r.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Geri_odeme_yapilmasi_gerekiyor\"><\/span>Geri \u00f6deme yap\u0131lmas\u0131 gerekiyor<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Sonradan a\u00e7\u0131klanacak olan \u00f6z sermaye finansman\u0131nda, \u015firket, kredi yerine yat\u0131r\u0131m olarak sermaye sa\u011flar. Bu nedenle, temett\u00fc da\u011f\u0131t\u0131m\u0131 veya \u015firketin tasfiyesi durumunda kalan varl\u0131klar\u0131n da\u011f\u0131t\u0131m\u0131 gibi i\u015flemler yap\u0131labilir, ancak al\u0131nan para geri \u00f6denmesi gerekmez. Ancak bor\u00e7 finansman\u0131, yat\u0131r\u0131m yerine kredi oldu\u011fu i\u00e7in, sa\u011flanan sermayenin geri \u00f6denmesi gerekmektedir. Bu durum, \u015firket i\u00e7in bir dezavantajd\u0131r.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Faiz_odemesi_gerekiyor\"><\/span>Faiz \u00f6demesi gerekiyor<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Bor\u00e7 finansman\u0131 ile al\u0131nan bor\u00e7lara genellikle faiz eklenir. Bu nedenle, toplanan sermayeden daha fazla para \u00f6denmesi gerekmektedir. Bu faiz \u00f6deme zorunlulu\u011fu, \u015firket i\u00e7in bir dezavantajd\u0131r.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Equity_Finance_Ozsermaye_Finansmani_Hakkinda\"><\/span>Equity Finance (\u00d6zsermaye Finansman\u0131) Hakk\u0131nda<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2020\/01\/shutterstock_313380698-1024x683.jpg\" alt=\"\" class=\"wp-image-6839\" \/><figcaption class=\"wp-element-caption\">A\u015fa\u011f\u0131da \u00f6zsermaye finansman\u0131 hakk\u0131nda a\u00e7\u0131klama yapaca\u011f\u0131z.<\/figcaption><\/figure>\n\n\n\n<p>\u00d6zsermaye finansman\u0131, bir \u015firketin yeni hisse senetleri \u00e7\u0131kar\u0131p bunlar\u0131 VC gibi yat\u0131r\u0131mc\u0131lara tahsis ederek, fon sa\u011flama i\u015flemidir. \u00d6zsermaye finansman\u0131n\u0131n ba\u015fl\u0131ca y\u00f6ntemleri aras\u0131nda halka arz, hissedar tahsisli sermaye art\u0131r\u0131m\u0131, \u00fc\u00e7\u00fcnc\u00fc taraf tahsisli sermaye art\u0131r\u0131m\u0131 ve d\u00f6n\u00fc\u015ft\u00fcr\u00fclebilir tahvil tipi yeni hisse senedi opsiyonlu tahvil ihra\u00e7 etme bulunmaktad\u0131r.<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/investment-contract-shares-provision\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/corporate\/investment-contract-shares-provision[ja]<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ozsermaye_Finansmaninin_Avantajlari\"><\/span>\u00d6zsermaye Finansman\u0131n\u0131n Avantajlar\u0131<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Faiz_odeme_zorunlulugu_yoktur\"><\/span>Faiz \u00f6deme zorunlulu\u011fu yoktur<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u00d6zsermaye finansman\u0131nda, bor\u00e7 al\u0131nmad\u0131\u011f\u0131 i\u00e7in faiz \u00f6deme zorunlulu\u011fu yoktur. Faiz \u00f6demesi gerekti\u011finde, bir \u015firket i\u00e7in maliyetli bir fon sa\u011flama durumu olabilir. Bu nedenle, faiz \u00f6deme zorunlulu\u011funun olmamas\u0131, \u00f6zsermaye finansman\u0131n\u0131n bir avantaj\u0131d\u0131r.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ger_odeme_yapma_zorunlulugu_yoktur\"><\/span>Ger \u00f6deme yapma zorunlulu\u011fu yoktur<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u00d6zsermaye finansman\u0131nda, bor\u00e7 al\u0131nmad\u0131\u011f\u0131 i\u00e7in toplanan fonlar\u0131n geri \u00f6denmesi gerekmez. Geri \u00f6deme yapma zorunlulu\u011funun olmamas\u0131 nedeniyle, bir \u015firket varl\u0131klar\u0131n\u0131 koruyabilir ve bu, \u00f6zsermaye finansman\u0131n\u0131n bir avantaj\u0131d\u0131r.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Sermaye_arttigi_icin_mali_durum_guclendirilebilir\"><\/span>Sermaye artt\u0131\u011f\u0131 i\u00e7in mali durum g\u00fc\u00e7lendirilebilir<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Bor\u00e7 finansman\u0131nda, kiralama bilan\u00e7osunda bor\u00e7lar\u0131n artt\u0131\u011f\u0131 daha \u00f6nce a\u00e7\u0131klanm\u0131\u015ft\u0131. \u00d6zsermaye finansman\u0131nda ise, toplanan fonlar \u015firketin sermayesi olur, bu da mali durumu g\u00fc\u00e7lendirir ve \u015firketin ba\u015far\u0131l\u0131 oldu\u011fu g\u00f6r\u00fcl\u00fcr. Bu, i\u015f ortaklar\u0131 ve finans kurulu\u015flar\u0131 gibi \u015firketlere g\u00fcven sa\u011flar. Bu nedenle, mali durumun g\u00fc\u00e7lendirilmesi, \u00f6zsermaye finansman\u0131n\u0131n bir avantaj\u0131d\u0131r.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ozsermaye_Finansmaninin_Dezavantajlari\"><\/span>\u00d6zsermaye Finansman\u0131n\u0131n Dezavantajlar\u0131<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Yonetim_hakkinda_etkisi_vardir\"><\/span>Y\u00f6netim hakk\u0131nda etkisi vard\u0131r<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u00d6zsermaye finansman\u0131nda, VC gibi yat\u0131r\u0131mc\u0131lara hisse senedi ihra\u00e7 etmek gereklidir. Bu durumda, hisse oranlar\u0131 de\u011fi\u015fir ve y\u00f6netim hakk\u0131 \u00fczerinde etkisi olur. Bu, \u00f6zsermaye finansman\u0131n\u0131n bir dezavantaj\u0131d\u0131r.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Fon_saglama_kolay_olmayabilir\"><\/span>Fon sa\u011flama kolay olmayabilir<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u00d6zsermaye finansman\u0131 ile fon sa\u011flama durumunda, fon sa\u011flayan taraf, bor\u00e7 verme yerine yat\u0131r\u0131m olarak para sa\u011flar. Bu durumda, yat\u0131r\u0131m riskini g\u00f6z \u00f6n\u00fcnde bulundurma gereklili\u011fi ortaya \u00e7\u0131kar. Riski g\u00f6z \u00f6n\u00fcnde bulundurarak, kolayca fon sa\u011flama olas\u0131l\u0131\u011f\u0131 d\u00fc\u015fer. Sonu\u00e7 olarak, fon sa\u011flama taraf\u0131 olarak, fon sa\u011flama kolay olmayabilir ve bu, \u00f6zsermaye finansman\u0131n\u0131n bir dezavantaj\u0131d\u0131r.<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/investment-contract-and-shareholder-agreement\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/corporate\/investment-contract-and-shareholder-agreement[ja]<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ozet\"><\/span>\u00d6zet<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Yukar\u0131da, bir \u015firketin nas\u0131l finansman sa\u011flayaca\u011f\u0131na dair a\u00e7\u0131klamalar yapt\u0131k. Bir \u015firket i\u00e7in nakit ak\u0131\u015f\u0131 \u00e7ok \u00f6nemli bir konudur. Bu nedenle, bu makalede bahsedilen finansman y\u00f6ntemlerini do\u011fru bir \u015fekilde se\u00e7mek ve finansman sa\u011flamak \u00f6nemlidir. Her finansman y\u00f6nteminin avantajlar\u0131 ve dezavantajlar\u0131 vard\u0131r, bu y\u00fczden her finansman y\u00f6nteminin avantajlar\u0131n\u0131 ve dezavantajlar\u0131n\u0131 iyi anlamak \u00f6nemlidir. Finansman y\u00f6ntemleri konusunda endi\u015fesi olan \u015firket y\u00f6neticileri, bir avukat gibi uzmanlara dan\u0131\u015fmal\u0131d\u0131r.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Giri\u015fim \u015firketleri ve benzerlerinin sermaye toplama y\u00f6ntemleri aras\u0131nda, VC ve benzeri yat\u0131r\u0131mc\u0131lardan yat\u0131r\u0131m al\u0131p kendi hisselerini \u00e7\u0131karmak gibi y\u00f6ntemlerin s\u0131kl\u0131kla d\u00fc\u015f\u00fcn\u00fcld\u00fc\u011f\u00fcn\u00fc d\u00fc\u015f\u00fcn\u00fcyorum. Anca [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":63532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[24,28],"acf":[],"_links":{"self":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts\/61527"}],"collection":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/comments?post=61527"}],"version-history":[{"count":3,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts\/61527\/revisions"}],"predecessor-version":[{"id":63533,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts\/61527\/revisions\/63533"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/media\/63532"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/media?parent=61527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/categories?post=61527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/tags?post=61527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}