TEKİNSİZİN GERİ DÖNÜŞÜ Kara, Alper
Motif Akademi Halk Bilimi Dergisi,
09/2021, Letnik:
14, Številka:
35
Journal Article
Recenzirano
Odprti dostop
Psychoanalysis, which is built on a series of psychological theories and methods, aims to understand and eliminate mental problems in the dark spaces of the unconscious getting to the root of them. ...Sexual fantasies during childhood and events forgotten through repression in this period are seen as sources that feed this dark place. Psychoanalysis tries to understand this dark, unknown area through the concept of "uncanny". The emotions that the characters repressed during their childhood in the novels The Last Voice They Hear, Silent Children and The Face That Must Die written in an uncanny atmosphere by the modern English horror writer Ramsey Campbell form the basis for the concept of “uncanny”. The source of the uncanny that characters experience is the undesired things of the past reaching the present with qualities unfamiliar as a result of the suppression. An unfinished, incomplete childhood comes to light in an adult body. What comes out with the return of the repressed deviates from what is familiar, and assumes a familiar but a strange form. The characters experience uncanny during the round trips between the two extremes. The dilemma that arises between the familiar and unfamiliar symbolizes their conflict with their own selves and their struggle between good and evil. The study will analyse Ramsey Campbell's aforementioned novels in the context of "uncanny".
We examined the perceived risk of Brexit referendum (BR) in the United Kingdom (UK) securitization market, using 1,021 securitized bonds issued between 2011 and 2018. We find an unexpected negative ...relationship between the BR outcome and the initial yield spreads of asset-backed securities (ABS), even after accounting for the downward-adjusted credit ratings in the post-BR period. We do not observe this effect on mortgage-backed securities (MBS). Our findings imply that investors diversified into ABS bonds under uncertainty in the post-BR period.
In this study, the effectiveness of solid insulating layers on AC breakdown strength of small, non-uniform air gaps was both theoretically and experimentally investigated. Electric field and ...potential distributions with and without dielectric barriers have been analyzed by using the finite element method (FEM). Breakdown voltage characteristics of rod-to-plane air gaps, up to 50 mm, were achieved for various surface area, thickness, and position of barriers. Silicone rubber (SiR), polyvinyl chloride (PVC), and mica barriers were located horizontally between the electrodes to observe the effect of dielectric obstructions on breakdown voltage. Flashover tests were both conducted for varying air gaps, barriers positioned on the grounded electrode, and a constant gap with floating barriers. The results of simulation studies and breakdown tests have been discussed in accordance with the physical principles of discharge phenomena. In conclusion, AC flashover characteristics of air gaps were comprehensively analyzed due to the size, material, and position of dielectric barriers.
We examine the impact of cooperation between legal advisors and issuers on bank securitization pricing using 6,624 European ABS tranches issued in the European market over the period of 1998 to 2018. ...We find that previous cooperation is negatively related to initial yield spreads of ABS. Investors seem to attach value to previous cooperation between issuers and legal advisors and consider such transactions less risky by asking for lower yields. We observe that the magnitude of the past relationships is also of importance. Moreover, previous cooperation becomes more important as the risk of the transaction increases. This is especially noticeable when prime (AAA rated) tranches are compared to non‐prime (non‐AAA rated) tranches. Our results also show that the number of legal advisors in a deal does not matter for investors.
We assess the effect of securitization activity on relative credit quality employing a uniquely detailed dataset from the euro‐denominated syndicated loan market. We find that at issuance, based on ...observable characteristics, banks do not seem to select and securitize loans of lower credit quality. Following securitization, the credit quality of borrowers whose loans are securitized deteriorates more than those in the control group. We find that poorer performance by borrowers of securitized loans seems to be connected to banks’ reduced monitoring incentives. Our results are supported by two additional methodologies and robust to controlling for predetermined borrower–lender matching.
We assess the value of frequent issuers to investors in securitization markets by examining the initial yield spread of 6132 European mortgage-backed securities (MBS), covering a 20-year period ...between 1999 and 2018. We find that frequent issuers have certification value, and it increases as the credit cycle approaches its peak, as lending standards loosen, and information asymmetries in securitization markets increase. Investors value frequent issuers more favourably on riskier, difficult to evaluate MBS. We find that after the great financial crisis (GFC), investors began to attribute more value to frequent issuers, regardless of MBS credit quality. We also find that in the pre-crisis period, investors required higher yields to compensate for perceived rating shopping, which is not observed after the GFC. Finally, we show that investors expect higher yields on deals closed by subsidiaries of foreign banks.
We examine whether the predictive power of initial yield spreads of mortgage-backed securities (MBS) vary with the financial cycle. Using a cross-country sample of 4203 MBS, we find that initial ...yield spreads of MBS incorporate more information than credit ratings and predict future downgrades, even after conditioning on initial credit ratings. Predictive power of spreads is higher during credit and housing bubbles and for the least risky AAA-rated MBS. We find that initial yield spreads capture the magnitude of rating downgrades, especially during asset bubble periods. As a novel approach in this literature, we also utilise machine learning techniques (regression trees, naïve Bayes, support vector machines and random forests) to confirm our results.
We consider the role of trustees–who are nominated to protect the interests of investors–in securitization pricing and whether investors rely on them to mitigate risks. In particular, we examine the ...effect of trustee reputation on initial yield spreads of European mortgage‐backed security (MBS) issuances between 1999 and the first half of 2007. We find that engaging reputable trustees led to lower spreads during the credit boom period prior to the 2007–2009 financial crisis. Our findings suggest that trustees’ reputation was considered by investors to be more important when risk assessment became more challenging.
Access to credit may have a direct effect on achieving United Nations (UN) Sustainable Development Goals (SDGs) in ending poverty, improving health and education, and reducing inequality. In this ...paper, we systematically review the growing empirical evidence on whether individuals' demographic characteristics (such as gender and race) and socio-economic features (such as income and education) effect their ability in accessing credit. Our survey covers peer-reviewed articles providing empirical evidence, using quantitative and qualitative data, published between 2000 and 2020 (February). We find that having more education and/or being more financially literate increases households' and entrepreneurs' access to credit. Individuals with lower income and less wealth are less likely to obtain credit from the mainstream financial institutions. In emerging countries, women are more likely to be rejected and deprived from formal credit, and pay higher cost. Non-Whites, ethnic minorities, disabled people and immigrants are also more likely to be excluded from the formal credit markets. We find that abovementioned credit deprived segments of the society resort to fringe finance providers, such as pay-day lenders or pawnbrokers, with higher costs. These findings are remarkably similar across developed and developing countries. Finally, we provide direction for further research in achieving SDGs through financial inclusion and access to credit by highlighting various shortcomings of the existing literature and empirical evidence.
•We systematically review the literature on individuals’ demographic characteristics and their ability in accessing credit.•Having less education, being less financially literate, having lower income and less wealth decreases access to credit.•Women, ethnic minorities, disabled people and immigrants are more likely to be excluded from the formal credit markets.•We provide direction for further research in achieving SDGs through financial inclusion.
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