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Innovative ways of raising funds and adding value: A stakeholder approach to whole business securitization

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  • Haaranen, Tuulikki
  • Nisar, Tahir M.

Abstract

Whole business (WB) securitization is a corporate fundraising strategy that allows companies to realize the full value of their operating assets in cooperation with their stakeholders. In a WB securitization, the company raises funds by issuing securitization bonds backed by its operating assets. A characteristic feature of this funding strategy is that it allows investors to impose operating conditions which obligate the company to develop its business strategy and operations. Hence, investors can influence the branding and customer service practices, as well as the stakeholder relationships of the company. Herein, we outline how managers of the securitized assets and investors can add value by adopting a stakeholder approach to whole business securitization.

Suggested Citation

  • Haaranen, Tuulikki & Nisar, Tahir M., 2011. "Innovative ways of raising funds and adding value: A stakeholder approach to whole business securitization," Business Horizons, Elsevier, vol. 54(5), pages 457-466, September.
    • Handle: RePEc:eee:bushor:v:54:y:2011:i:5:p:457-466
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    References listed on IDEAS

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    1. Fama, Eugene F & Jensen, Michael C, 1983. "Agency Problems and Residual Claims," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 327-349, June.
    2. Gérard Charreaux & Philippe Desbrières, 2001. "Corporate Governance: Stakeholder Value Versus Shareholder Value," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 5(2), pages 107-128, June.
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    Cited by:

    1. Po shan Yu & Zuo zhang Chen & Jin Sun, 2018. "Innovative Financing: An Empirical Study on Public–Private Partnership Securitisation in China," Australian Economic Papers, Wiley Blackwell, vol. 57(3), pages 394-425, September.

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