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11
SABANCI VAKFI /Ȋ), 796.9(40 k@2l3,9Ȋ 2013-2014
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SABANCI VAKFI /╚К), 796.9(40 k@2l3,9╚К 2013-2014
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14
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15
SABANCI VAKFI /Ȋ), 796.9(40 k@2l3,9Ȋ 2013-2014
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17
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22
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23
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24
2HKÛUSHY LȘP[PTSLYPUPU HYKÛUKHU ;HSH[WHȴH (IK\YYHOTHU Ǹ RY WHȴH ]L ǦZ[HZ`VU THOHSSLSLYPUKL L] aP`HYL[SLYP PSL IPSNPSLUKPYTL sHSÛȴTHSHYÛUH IHȴSHKÛSHY )\ aP`HYL[SLYKL OLT RHKÛUH [VWS\T [HYHMÛUKHU IPsPSLU IHZTHRHSÛW YVSSLY JPUZP`L[ LȴP[ZPaSPȘPUPU NL[PYKPȘP ZVY\USHYH KHPY ZVOIL[SLY `HWÛSKÛ LȘP[PJP IYVȴ YSLY KHȘÛ[ÛSKÛ OLT KL RHKÛUSHYH [HSLWSLYPUPU ULSLY VSK\Ș\ ZVY\SHYHR HURL[ MVYT\ KVSK\Y\SK\ -VYTSHYKH RHKÛUSHYH TLKLUP K\Y\TSHYÛ UHZÛS L]SLUKPRSLYP LȘP[PT K\Y\TSHYÛ sHSÛȴÛW sHSÛȴTHKÛRSHYÛ N s
¸+L͛P΅PR PUZHUSHY MHYRSÛ OH`H[ OPRo`LSLYP N YK R ȉUZHUSHYÛU OH`H[ÛUÛU K Y[ K Y[S R VSTHKÛ͛ÛUÛ RHKÛUSHYÛU ΅PKKL[ N YK ͛ U ]L I\ K\Y\T RHY΅ÛZÛUKH sV͛\ aHTHU OPsIPY ΅L` `HWTHKÛRSHYÛUÛ N YK R ¹ ǸLUH` kURVS kUJ 2HKÛU
25
SABANCI VAKFI /Ȋ), 796.9(40 k@2l3,9Ȋ 2013-2014
,+Ȋ95, ,ͬȊ; :kA ,ͬȊ; Ȋ5:(5*( @(ͬ(4
h(970*0 =,9Ȋ3,9 Ȋ3/(4 =,9,5 :65<h3(9
LKPW L[TLKPRSLYP sVJ\R ZH`ÛSHYÛ L]KL RHs RPȴP `HȴHKÛRSHYÛ ]L OHUL NLSPYP NPIP VUSHYÛ [HUÛTH`H ` ULSPR ZVY\SHYÛU `HUÛ ZÛYH RHKÛUSHYÛU [VWS\T PsPUKLRP RVU\TSHYÛUH ` ULSPR K ȴ UJLSLYPUP KPSL NL[PYLIPSLJLRSLYP ZVY\SHY ZVY\SK\ 7YVQL Z YLZPUJL kUJ 2HKÛUSHY IHȴSHUNÛs[HRP OLKLÅLYPUP HȴHYHR [HT L] aP`HYL[P NLYsLRSLȴ[PYKP 2HKÛUSHY sHSÛȴTH `HȴHTÛUKH KHOH sVR `LY HSTHR ZHȘSÛR ]L LȘP[PT VSHUHRSHYÛUKHU KHOH sVR ]L L[RPU IPsPTKL MH`KHSHUTHR ȴPKKL[SL T JHKLSL NPIP VY[HR [HSLWSLYP IPY HYH`H NLSLYLR KH`HUÛȴTHUÛU ZÛJHRSÛȘÛUÛ ]L N J U N YLYLR WH`SHȴHYHR ]L LU ULTSPZP KLUL`PTSL`LYLR KPSL NL[PYKPSLY
AP`HYL[SLYPU HZÛS OLKLÄ RHKÛUSHYSH [HUÛȴTHR ȴPKKL[ ]L RHKÛUÛU PUZHU OHRSHYÛ RVU\Z\UKH MHYRÛUKHSÛR `HYH[THR VSZH KH MVYTSHY ZH`LZPUKL [VWSHUHU ]LYPSLY WYVQLUPU `HYH[[ÛȘÛ MH`KHUÛU Z YK Y SLIPSPY ]L Ss TSLULIPSPY VSTHZÛ HsÛZÛUKHU I ` R ULT [HȴÛ`VYK\ ,] aP`HYL[SLYPUKL KVSK\Y\SHU HURL[ MVYTSHYÛ ;YHR`H lUP]LYZP[LZP [HYHMÛUKHU KLȘLYSLUKPYPSLYLR RHKÛUSHYÛU [HSLWSLYP [LZWP[ LKPSKP (URL[ sHSÛȴTHZÛUÛU ZVU\sSHYÛ HZSÛUKH sVR KH Z YWYPa KLȘPSKP ,KPYUL RHKÛUSHYÛU [VWS\T ]L sHSÛȴTH OH`H[Û PsPUKLRP RVU\T\ IHRÛTÛUKHU ; YRP`L NLULSPUKLU MHYRSÛ KLȘPSKP (URL[ `HWÛSHU THOHSSL aLSPUKL LSKL LKPSLU ZVU\sSHYH N YL
VYHUÛUKH RHKÛUÛU VR\TH `HaTHZÛ `VR[\
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]L KLZ[LȘPUL IHȴ]\YK\RSHYÛUÛ PMHKL L[[PSLY 2HKÛUSHYÛU LU ULTSP PO[P`HsSHYÛ PZL ZÛYHZÛ`SH Pȴ ȴPKKL[SL T JHKLSL PsPU KLZ[LR sVJ\R WHYRÛ HS[`HWÛ OPaTL[SLYP ZVZ`HS ]L ZHȘSÛR OPaTL[SLYP VR\TH `HaTH R\YZSHYÛ VSHYHR UL sÛR[Û 2HKÛUSHY sHSÛȴTHR RLUKPSLYPUP NLSPȴ[PYTLR ȴPKKL[L RHYȴÛ KLZ[LR I\STHR RLUKPSLYP ]L sVJ\RSHYÛ PsPU KHOH RHSP[LSP OPaTL[SLYL \SHȴHIPSTLR PZ[P`VYK\ )\ ZVU\sSHYKHU PSOHT HSHU ,2(4, +,9 RHKÛUSHYÛU RLU[ZLS [HSLWSLYPUP N a U UL HSHYHR ;VWS\TZHS *PUZP`L[L +\`HYSÛ ) [sLSLTL RVU\S\ IPY KL `LUP WYVQL NLSPȴ[PYKP ,ȴP[ : a ,ȴP[ ǦUZHUJH @HȴHT 7YVQLZP»UPU OH`H[H NLsPYPSTLZPUKL LU I ` R YVS Z[SLULU ¸kUJ 2HKÛUSHY¹ÛU KLUL`PT ]L N aSLTSLYP NLSLJLȘL KHPY \T\[ ]LYP`VY kUJ 2HKÛUSHYKHU
/LY IPY THOHSSLKLRP L] aP`HYL[SLYP [HTHTSHUKÛȘÛUKH IPYLY 4HOHSSL ;VWSHU[ÛZÛ `HWÛSKÛ ]L I `SLSPRSL L] aP`HYL[SLYPUKLRP IPSNPSLUKPYTL [HaLSLUPYRLU KH`HUÛȴTH Y\O\ KH WLRPȴ[PYPSTPȴ VSK\ ;VWSHT 4HOHSSL ;VWSHU[ÛZÛ»UÛU `HUÛ ZÛYH RHKÛUÛU RH[ÛSÛTÛ`SH IPY ǦZ[HUI\S 2 S[ Y .LaPZP KL NLYsLRSLȴ[PYPSKP 26
27
SABANCI VAKFI /Ȋ), 796.9(40 k@2l3,9Ȋ 2013-2014
,+Ȋ95, ,ͬȊ; :kA ,ͬȊ; Ȋ5:(5*( @(ͬ(4
LTLRSP OLTȴPYL -H[TH )LRHY `ÛSSHYJH ZHȘSÛR ZLR[ Y UKL sHSÛȴ[ÛȘÛUÛ HUJHR I\ WYVQL`L RHKHY PUZHUSHYÛ `L[LYPUJL [HUÛTHKÛȘÛUÛ K ȴ UK Ș U PMHKL LKP`VY! ¸,KPYUL»KL OLYRLZ sVR YHOH[ IPY OH`H[ Z Y `VY ZHUÛ`VYK\T V`ZH PUZHUSHYÛU KVR\U\STH`H V RHKHY PO[P`HsSHYÛ ]HYTÛȴ RP 7YVQL LZUHZÛUKH RHKÛUSHYSH sVR P`P PSPȴRPSLY R\YK\R )PaL sVR N ]LUKPSLY I\N U IPSL HYH`HUSHY ]HY ǸPTKP K ȴ U `VY\a" KHOH MHaSH UL `HWHIPSPYPa¹ KP`L KPSL NL[PYP`VY K ȴ UJLSLYPUP RH[ÛSÛTJÛ RHKÛUÛU KHOH ZVUYH IPY KPRZP`VU R\YZ\UH RH[ÛSKÛȘÛUÛ HUSH[Û`VY ZL]PUsSL ]L \T\[SH )PY KPȘLY kUJ 2HKÛU -H[TH .LY WYVQLUPU RLUKPZPUL KL sVR MH`KHZÛ VSK\Ș\U\ Z `S `VY! ¸ǸPKKL[PU sVR MHYRSÛ IPsPTSLYP ]HY LRVUVTPR ȴPKKL[ NPIP¯ 2HKÛUSHY ȴPKKL[ N YTLKPT KP`VY" [VWSHU[ÛSHYÛTÛaKHU ZVUYH RVJHSHYÛUH K\`K\RSHYÛUÛ HUSH[[ÛRSHYÛUKH VUSHYÛU KH \`N\SHKÛRSHYÛ LRVUVTPR ȴPKKL[PU MHYRÛUKH VSTHKÛRSHYÛUÛ Z `S `VYSHY TLZLSH ¹ 7YVQLUPU KPYLR[ ]L KVSH`SÛ `VSKHU sVR ZH`ÛKH PUZHUÛ L[RPSLKPȘPUP ]\YN\S\`VY! ¸4LYPs»PU IPY R ` UKLU RH[ÛSHU IPY RHKÛU ºOLY N U I\YHKH KPUSLKPRSLYPTP R `KLRP RHKÛUSHYH HUSH[Û`VY\T» KLTPȴ[P" I\ L[RP`P K\`THR sVR \T\[ ]LYPJP )HȴSHUNÛs[H RHWÛSHYÛ sHSTH`H IPa KL sLRPUP`VYK\R ZHTPTP`L[ R\YTHR aVY -HRH[ ZVUYH LU ILRSLTLKPȘPUPa RPȴPUPU ZPaL HsÛSKÛȘÛUÛ KLY[SLYPUP ZPaPUSL WH`SHȴ[ÛȘÛUÛ N Y `VYZ\U\a :VU\s[H OLYRLZ RHKÛU OLYRLZPU `HYHSÛ IPY ` U ]HY )\ HsÛKHU MHYRÛUKHSÛR sHSÛȴTHZÛ sVR MH`KHSÛ 2HWÛSHYÛ sHSHSÛT I\ sHSÛȴTH`H OLW KL]HT LKLSPT PZ[P`VY\T¹
28
,KPYUL»KL RHKÛUSHYÛU LYRLRSLYSL LȴP[ OHR ZVY\TS\S\R ]L MÛYZH[SHYH ZHOPW VSTHZÛ [VWS\TZHS `HȴHTÛU OLY HSHUÛUKH LYRLRSLYSL LȴP[ [LTZPS LKPSTLZP PsPU KHOH H[ÛSHJHR sVR HKÛT HȴÛSHJHR sVR LUNLS ]HY ,ȴP[ : a ,ȴP[ ǦUZHUJH @HȴHT WYVQLZP`SL IPY \T\[ ÄSPaSLUKP 7YVQL RHKÛU KH`HUÛȴTHZÛUÛU RHKÛUSHYÛU RHYHY HSTH TLRHUPaTHSHYÛUKH `LY HSTHZÛUÛU RHKÛUSHYÛU ZVZ`HS OH`H[[H ]L sHSÛȴTH `HȴHTÛUKH N sS IPSPUsSP ȴPKKL[L ]L H`YÛTJÛSÛȘH RHYȴÛ sÛRHU IPYL`SLY VSHYHR `LY HSTHZÛUÛU HUJHR [\[R\`SH Z YK Y SLJLR IPY T JHKLSLUPU LZLYP VSHJHȘÛUÛ IPaL IPY RLa KHOH RHUÛ[SHKÛ
2<9<3<ͭ<5 (+0 ,KPYUL 2HKÛU 4LYRLaP +HUÛȴTH +LYULȘP ,2(4, +,9 2<9<3<ͭ @030 2<9<3<ͭ /,+,-3,9ȋ ,2(4, +,9 RHKÛU sVJ\R ]L sL]YL ZVY\USHYÛ PSL PSNPSP HYHȴ[ÛYTHSHY VYNHUPaHZ`VUSHY IPSPTZLS ]L LȘP[ZLS sHSÛȴTHSHY `HWTHR RHKÛUSHYÛU THKKP ]L THUL]P KH`HUÛȴTHZÛUÛ HY[ÛYTHR ZVZ`HS R S[ YLS LȘP[PT ]L LRVUVTPR ` USLYKLU RHSRÛUTHZÛUÛ ZHȘSHTHR ` YLUPU [HYPOP LRVUVTPR [\YPZ[PR ]L MVSRSVYPR aLSSPRSLYPUP HYHȴ[ÛYTHR NLSPȴ[PYTLR ]L [HUÛ[THR HTHJÛ PSL R\Y\SK\ ȋ3,;ȋͭȋ4 )ȋ3.ȋ3,9ȋ 29
SABANCI VAKFI /╚К), 796.9(40 k@2l3,9╚К 2013-2014
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)┬Е[sLSLTL`P
<@.<3(@0*0 2<9<4 ,KPYUL 2HK├ЫU 4LYRLaP +HU├Ы╚┤TH +LYUL╚ШP ,2(4, +,9 7961, 69;(23(90 ,KPYUL =HSPSP╚ШP ,KPYUL )LSLKP`LZP ;YHR`H lUP]LYZP[LZP ,KPYUL )LKLUZLS ,UNLSSPSLYP ]L (PSLSLYPUP 2VY\TH @HYK├ЫTSH╚┤TH +LYUL╚ШP ,),+ <@.<3(4( :l9,:╚Л ;LTT\a ┬╢ 5PZHU 7961, kA,;╚Л ,2(4, +,9 I\ WYVQL PSL ,KPYUL TLYRLaKL ]L 2L╚┤HU <a\UR┬АWY┬Е ]L ,ULa PSsLSLYPUKL `┬ЕY┬Е[[┬Е╚Ш┬Е L╚ШP[PT sHS├Ы╚┤THSHY├Ы PSL ;VWS\TZHS *PUZP`L[L +\`HYS├Ы )┬Е[sLSLTL ;*+) RVU\Z\UKH MHYR├ЫUKHS├ЫR `HYH[TH`├Ы HTHsSHK├Ы +LYULR H`Y├ЫJH IPY ┬АUJLRP OPIL WYVQLZPUKL THOHSSLKL RHK├ЫU PSL `┬ЕY┬Е[┬ЕSLU HURL[ sHS├Ы╚┤THZ├ЫUKHU s├ЫRHU [HSLWSLYP ,KPYUL )LSLKP`LZP┬╗UL PSL[LIPSTLR PsPU PS sHW├ЫUKH RHK├ЫU :;2┬╗SHYKHU VS\╚┤HU IPY ╟жaSLTL .Y\I\ R\YK\ )\ ╟жaSLTL .Y\I\ `LYLS ZLsPTSLYP ZVUYHZ├ЫUKH ,KPYUL )LSLKP`LZP :[YH[LQPR 7SHU `HW├ЫT Z┬ЕYLJPUKL )LSLKP`L┬╗UPU OLKL├ЕLYPUP [VWS\TZHS JPUZP`L[ L╚┤P[SP╚ШPUL OPaTL[ LKLJLR ╚┤LRPSKL OHa├ЫYSHTHZ├Ы PsPU ZH]\U\J\S\R sHS├Ы╚┤THZ├Ы `HW[├Ы
30
рао ,KPYUL PS TLYRLaPUKL N┬ЕUS┬ЕR 2L╚┤HU <a\UR┬АWY┬Е ,ULa PSsLSLYPUKL N┬ЕUS┬ЕR ;*+) L╚ШP[PTSLYP ]LYPSKP рао ,2(4, +,9 ┬АUJ┬ЕS┬Е╚Ш┬ЕUKL ]L RHK├ЫU :;2┬╗SHYKHU VS\╚┤HU IPY ╟жaSLTL .Y\I\ R\Y\SK\ рао (YHTH 2VUMLYHUZ├Ы ZH]\U\J\S\R ]L PaSLTL KL╚ШLYSLUKPYTL sHS├Ы╚┤THSHY├Ы ZVU\J\UKH 7YVQL ,S 2P[HI├Ы OHa├ЫYSHUK├Ы рао :[YH[LQPR 7SHU OLKL├ЕLYPUPU [VWS\TZHS JPUZP`L[ L╚┤P[SP╚ШPUL OPaTL[ L[TLZP PsPU ZH]\U\J\S\R `HW├ЫSK├Ы
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Z┬ЕYLsSLYPUKL ]L TLRHUPaTHSHY├ЫUKH RHK├ЫUSHY├ЫU OHR ]L [HSLWSLYPUL `LY ]LYPSTLZP PsPU ZVT\[ HK├ЫTSHY H[├ЫSTHZ├ЫUH PO[P`Hs ]HYK├ЫY +HOH ┬АUJL )4 6Y[HR 7YVNYHT├Ы RHWZHT├ЫUKH `┬ЕY┬Е[┬ЕSLU :HIHUJ├Ы =HRM├Ы /PIL 7YVNYHT├Ы sLYsL]LZPUKL ┬╕,╚┤P[ :┬Аa ,╚┤P[ ╟жUZHUJH @H╚┤HT┬╣ WYVQLZP`SL KLZ[LR N┬АYLU ,2(4, +,9 I\ WYVQLKLU LSKL L[[P╚ШP HURL[ ZVU\sSHY├ЫU├Ы ]L \SH╚┤├ЫSHU IPUSLYJL RHK├ЫU├ЫU RLU[ZLS [HSLWSLYPUP N┬Аa ┬АU┬ЕUL HSHYHR `LUP IPY WYVQL NLSP╚┤[PYKP ,2(4, +,9 `LYLS `┬АUL[PTSLYKL RHK├ЫU├ЫU `L[LYPUJL [LTZPS LKPSTLTLZP ZVY\U\U\U `LYLS KLTVRYHZP ]L RHSR├ЫUTH OLKL├ДUL \SH╚┤THR[H JPKKP IPY LUNLS VSK\╚Ш\ NLYsL╚ШPUKLU `VSH s├ЫR[├Ы +LYULR I\ `LUP
:65<h3(9 рао ,KPYUL )LSLKP`LZP :[YH[LQPR 7SHU├Ы┬╗UH [VWS\TZHS JPUZP`L[ L╚┤P[SP╚ШPUL OPaTL[ LKLU HTHs OLKLM Z[YH[LQP ]L N┬АZ[LYNL NPYKP рао ,KPYUL TLYRLaKL ]L ┬Еs PSsLKL 2LU[ 2VUZL`SLYP 2HK├ЫU 4LJSPZSLYP 2HK├ЫU :;2┬╗SHY ]L )LSLKP`L sHS├Ы╚┤HUSHY├ЫU├ЫU ;*+) RVU\Z\UKH IPSPUsSLUTLZP ZH╚ШSHUK├Ы рао ╟жS sHW├ЫUKH [VWS\TZHS JPUZP`L[ L╚┤P[SP╚ШP PSL PSNPSP Z┬ЕYLsSLYP PaSLTLR PsPU R\Y\SHU ╟жaSLTL .Y\I\ ,KPYUL┬╗KL RHK├ЫU├ЫU PUZHU OHRSHY├ЫU├ЫU [HRPIP PsPU TL╚┤Y\ IPY 7SH[MVYT VSK\ рао ╟жaSLTL .Y\I\┬╗U\U `HW[├Ы╚Ш├Ы sHS├Ы╚┤THSHY├ЫU IH╚┤RH :;2┬╗SHYH KH ┬АYULR VSTHZ├Ы PsPU IPY RP[HWs├ЫR OHa├ЫYSHUK├Ы" RHT\V`\ PSL WH`SH╚┤├ЫSK├Ы
31
SABANCI VAKFI /Ȋ), 796.9(40 k@2l3,9Ȋ 2013-2014
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32
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SABANCI VAKFI /Ȋ), 796.9(40 k@2l3,9Ȋ 2013-2014
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34
RVTPZ`VU ]L R\Y\SSHY R\YK\ ,2(4, +,9 WYVQL Z YLZPUJL <a\UR WY /H]ZH : SVȘS\ 4LYPs 2LȴHU @LUP 4\OHJÛY 4LYPs ]L ,ULa»KL ǦWZHSH PSsL LȘP[PTSLYP ]L ,KPYUL TLYRLaKLRP (YHTH 2VUMLYHUZÛ»UÛ NLYsLRSLȴ[PYPYRLU IPY `HUKHU KH R\Y\SHU ǦaSLTL .Y\I\»U\U RVVYKPUHZ`VU\U\ ZHȘSHKÛ :VU\s VSHYHR )LSLKP`L PsPUKL ;*+) 2VVYKPUHZ`VU .Y\I\ R\Y\SK\ ]L Z[YH[LQPR WSHUSHY ]L I [sLSLY PSR RLa `LYLS RHKÛU ZP]PS [VWS\T R\Y\S\ȴSHYÛUH KHUÛȴÛSHYHR OHaÛYSHUTH`H IHȴSHUKÛ )LSLKP`L 4LJSPZ [VWSHU[ÛZÛUKH ;VWS\TZHS *PUZP`L[ ,ȴP[SPȘP RVU\Z\ :[YH[LQPR 7SHU»H KHOPS LKPSLYLR
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35
SABANCI VAKFI /Ȋ), 796.9(40 k@2l3,9Ȋ 2013-2014
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36
2HSLPsP I SNLZPUKL I\S\UHU ,ZRP =HSP 2VUHȘÛ IPUHZÛUÛU 2HKÛU +HUÛȴTH ]L +LZ[LR 4LYRLaP VSHYHR OPaTL[ ]LYTL`L IHȴSHTHZÛ PsPU OHaÛYSÛR sHSÛȴTHSHYÛ KH KL]HT LKP`VY 4LYRLaKL ZHȘSÛR WZPRVSVQPR ]L O\R\RP KLZ[LRSLY NPIP RHKÛUSHYH ]L RÛa sVJ\RSHYÛUH ` ULSPR OLY [ YS KHUÛȴTHUSÛR OPaTL[P ]LYPSLJLR 7YVQL ZVU\UKH [ T Z YLsSLYPU ]L WYVQL PSL LSKL LKPSLU [ T RHaHUÛTSHYÛU HUSH[ÛSKÛȘÛ IPY ZVU\s RP[HWsÛȘÛ OHaÛYSHUKÛ 7YVQL RHKÛU sHSÛȴTHSHYÛ `HWHU R\Y\S\ȴSHYH ]L `LYLS ` UL[PTSLYL ULTSP IPY YULR [LȴRPS LKLJLR
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SABANCI VAKFI /Ȋ), 796.9(40 k@2l3,9Ȋ 2013-2014
,9AȊ5*(5 ,5.,33Ȋ (55,3,9Ȋ5Ȋ5 .lh3,5+Ȋ9Ȋ34,:Ȋ
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SABANCI VAKFI /Ȋ), 796.9(40 k@2l3,9Ȋ 2013-2014
,9AȊ5*(5 ,5.,33Ȋ (55,3,9Ȋ5Ȋ5 .lh3,5+Ȋ9Ȋ34,:Ȋ
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44
2<9<3<ͭ<5 (+0 ; YRP`L 2ÛaÛSH` +LYULȘP ,YaPUJHU Ǹ\ILZP 2<9<3<ͭ @030
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SABANCI VAKFI /╚К), 796.9(40 k@2l3,9╚К 2013-2014
,:2╚К═м,/╚К9 ;673<4:(3 *╚К5:╚К@,;, +<@(930 )l;h,3,4, ,═О╚К;╚К4╚К
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48
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SABANCI VAKFI /Ȋ), 796.9(40 k@2l3,9Ȋ 2013-2014
,:2Ȋͬ,/Ȋ9 ;673<4:(3 *Ȋ5:Ȋ@,;, +<@(930 )l;h,3,4, ,͎Ȋ;Ȋ4Ȋ
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50
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SABANCI VAKFI /Ȋ), 796.9(40 k@2l3,9Ȋ 2013-2014
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7YVQLUPU LU KLȘLYSP RHaHUÛTÛ ,:,7»PU N U SS S R [LTLSPUKL R\Y\STHZÛ VSK\ ,:,7 H[ S`L sHSÛȴTHSHYÛ PSL ;*+) HSHUÛUKH KLYPUSLȴ[P `LYLS ZLsPT Z YLJPUP IPY MÛYZH[ VSHYHR N YLYLR HKH`SHYSH WYV[VRVS PTaHSHKÛ ILSLKP`LSLYL ]L R\Y\TSHYH aP`HYL[SLYKL I\S\UHYHR RLUKPUP [HUÛ[[Û `LYLS ` UL[PTL Z[YH[LQPR WSHU OHaÛYSÛR Z YLJPUKL KLZ[LR ]LYLIPSLJLȘPUP ILSPY[[P 7YVQLUPU \`N\SHUTHZÛ`SH ]L )PYSLȴTPȴ 4PSSL[SLY ;VWS\TZHS *PUZP`L[ ,ȴP[SPȘP ]L 2HKÛUÛU . sSLUTLZP )PYPTP [HYHMÛUKHU NLYsLRSLȴ[PYPSLU LȘP[PTSLY PSL IPYSPR[L ,ZRPȴLOPY ) ` RȴLOPY )LSLKP`LZP I U`LZPUKL KL IPY @VS /HYP[HZÛ OHaÛYSHUKÛ )\ @VS /HYP[HZÛ NLYLȘPUJL )LSLKP`L I U`LZPUKL IPY ,ȴP[SPR )PYPTP ]L IPY ,ȴP[SPR 2VTPZ`VU\ R\Y\SK\ ]L ;*+)»UPU Z[YH[LQPR WSHUH LU[LNYHZ`VU\ PsPU sHSÛȴTHSHYH IHȴSHUKÛ
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SABANCI VAKFI /Ȋ), 796.9(40 k@2l3,9Ȋ 2013-2014
,:2Ȋͬ,/Ȋ9 ,:,7»Ȋ .lh3,5+Ȋ94,2
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7961, 69;(23(90 2HZ[HTVU\ )LSLKP`LZP <@.<3(4( :l9,:╚Л ,RPT ┬╢ 5PZHU 7961, kA,;╚Л 7YVQL PSL RHK├ЫUSHY├ЫU [VWS\TZHS JPUZP`L[ L╚┤P[SP╚ШP ]L RHK├ЫU OHRSHY├Ы RVU\SHY├ЫUKH MHYR├ЫUKHS├ЫR RHaHUTHSHY├Ы ]L IPSNPSLYPUPU HY[THZ├Ы HTHsSHUK├Ы 7YVQLUPU OLKLM NY\I\ VSHYHR OLY IPY R┬А` ]L THOHSSLKLU LU Ha RHK├ЫU ZLsPSKP 7YVQL RHWZHT├ЫUKH OLKLM NY\IH RHK├ЫU├ЫU PUZHU OHRSHY├Ы [VWS\TZHS JPUZP`L[ L╚┤P[SP╚ШP WZPRVSVQP ]L PSL[P╚┤PT NPYP╚┤PTJPSPR RVU\SHY├ЫUKH L╚ШP[PTSLY ]LYPSKP 7YVQL RHWZHT├ЫUKH RHK├ЫUH O\R\RP KLZ[LR ZH╚ШSHUK├Ы
96
рао 2P╚┤PZLS NLSP╚┤PT L╚ШP[PTSLYP PSL ┬АaN┬Е]LU HY[├ЫY├ЫJ├Ы sHS├Ы╚┤THSHY `HW├ЫSK├Ы :65<h3(9 рао 2H[├ЫS├ЫTJ├Ы RHK├ЫU RHK├ЫU├ЫU PUZHU OHRSHY├Ы RVU\Z\UKH IPSNPSLUKP MHYR├ЫUKHS├ЫR RHaHUK├Ы ]L IPSPUsSLUKP
-(92 ,+╚К@69<4 .,3╚К═м╚К@69<4 +,═О╚К═м╚К@69<4 lSRLTPaKL RHK├ЫUSHY LYRLRSLYKLU sVR KHOH MHaSH VYHUSHYKH KLWYLZ`VU `LTL IVa\RS\╚Ш\ O\a\YZ\aS\R [YH]TH ZVUYHZ├Ы RYVUPR Z[YLZ IVa\RS\╚Ш\ `H╚┤├Ы`VY 2├Ыa sVJ\RSHY├Ы LYRLR sVJ\RSHY├ЫUH R├Ы`HZSH KHOH sVR PZ[PZTHYH \╚ШY\`VY LYRLU `H╚┤[H ]L aVYSH L]SLUKPYPSP`VY ,]SP RHK├ЫUSHY├ЫU `HY├ЫZ├ЫUKHU MHaSHZ├Ы L╚┤P [HYHM├ЫUKHU ├ДaPRZLS ╚┤PKKL[L THY\a I├ЫYHR├ЫS├Ы`VY )\ ZVY\USHYH KHPY
┬╕2┬А`┬ЕT┬ЕaKL RHK├ЫUSHY aH[LU IPSPUsSP HZ├ЫS LYRLRSLYPU IPSPUsSLUTLZP NLYLRSP 2HK├ЫUSHY LRVUVTPR N┬ЕsSLYP N┬Е]LUJLSLYP VSTHK├Ы═Ы├Ы PsPU RH[SHU├Ы`VYSHY IPYsVR ╬ЕL`L ╚ЙRP R├Ыa├ЫT ]HY ┬ЕUP]LYZP[LKL VR\`HU ,╬ЕPT KL HYRHSHY├ЫUKH ILU KL 6R\THSHY├Ы LSSLYPUL LRTLRSLYPUP HSTHSHY├Ы N┬ЕsS┬Е VSTHSHY├Ы PsPU OLY ╬ЕL`P `HW├Ы`VY\a ┬╣ 5\YH` =HOP[V╚ШS\ :\IH╚┤├Ы 2┬А`┬Е
97
SABANCI VAKFI /Ȋ), 796.9(40 k@2l3,9Ȋ 2013-2014
2(:;(465< -(92 ,+Ȋ@69<4 .,3ȊͬȊ@69<4 +,͎ȊͬȊ@69<4
; YRP`L sHWÛUKH `H`NÛU sHSÛȴTHSHY `HWÛSTH`H IHȴSHUTHZÛUH RHYȴÛU 2HZ[HTVU\»KH IPY WYVNYHT ]L WYVQL KHOPSPUKL `HWÛSHU sHSÛȴTHSHY UP[LSPR ]L UPJLSPRsL sVR `L[LYZPa kaLSSPRSL RÛYZHS I SNLSLY I\ [ Y sHSÛȴTHSHYÛU KÛȴÛUKH RHSÛ`VY 2HZ[HTVU\»KHRP RHKÛUSHYÛ RHYȴÛSHȴ[ÛRSHYÛ PUZHU OHRSHYÛ POSHSSLYP HPSL PsP ȴPKKL[ WZPRVSVQPR ZVY\USHY RHYȴÛZÛUKH s a T YL[TL N J I\STHSHYÛ PsPU IHȴ[H LȘP[PJP sHSÛȴTHSHY VSTHR aLYL MHYRÛUKHSÛȘÛ HY[ÛYHJHR OLY [ YS MHHSP`L[SL KLZ[LRSLTLR NLYLRP`VY 2HZ[HTVU\»KH RHKÛUSHY LȘP[PTKLU PȴN J UL RHYHY TLRHUPaTHSHYÛUKHU ZP`HZL[L RHKHY RHT\ZHS HSHUSHYH RH[ÛSÛT ]L OPaTL[SLYL LYPȴPT IHRÛTÛUKHU KH KLaH]HU[HQSÛ RVU\TKHSHY ,YRLU 98
`Hȴ[H aVYSH L]SPSPȘL ]L HPSL PsP ȴPKKL[L THY\a RHSHU RHKÛUSHYÛU ȴPKKL[L RHYȴÛ T JHKLSL LKLYRLU KVȘY\ HKÛTSHYÛ H[HIPSTLSLYP PsPU `HZHS OHRSHYÛUÛ ȘYLUTLSLYP I ` R ULT [HȴÛ`VY 2HZ[HTVU\»KH RHKÛUSHYÛU JPUZP`L[ LȴP[ZPaSPȘPUKLU RH`UHRSHUHU ZVY\USHYÛUÛU MHYRÛUH ]HYTHSHYÛ ]L I\ ZVY\USHYÛU s a T UL ` ULSPR KLZ[LR TLRHUPaTHSHYÛUH \SHȴTHSHYÛ ]L N sSLUTLSLYP PsPU OHYLRL[L NLsLU ; YR lUP]LYZP[LSP 2HKÛUSHY +LYULȘP 2HZ[HTVU\ Ǹ\ILZP ¸-HYR ,KP`VY\T .LSPȴP`VY\T +LȘPȴP`VY\T¹ WYVQLZP`SL )4 6Y[HR 7YVNYHTÛ RHWZHTÛUKH :HIHUJÛ =HRMÛ /PIL 7YVNYHTÛ»UKHU KLZ[LR I\SK\
+,͎Ȋͬ,5 .lh3,5,5 2(+053(9
2(+053(9 2(+053(9 ȊhȊ5 :(/(+(
7YVQL VY[HȘÛ VSHU 2HZ[HTVU\ )LSLKP`LZP PSL WYVQL [HR]PTPUP ]L `VS OHYP[HZÛUÛ ILSPYSL`LU WYVQL LRPIP KHOH ZVUYH R\SSHUÛSHJHR IYVȴ YSLYP OHaÛYSHKÛ )LSLKP`L»KL K aLUSLULU [HUÛ[ÛT [VWSHU[ÛZÛ`SH WYVQL IHZÛUH ]L 2HZ[HTVU\S\SHYH K\`\Y\SK\ 7YVQLUPU OLKLM NY\I\ 2HZ[HTVU\ TLYRLaL IHȘSÛ :HYHsSHY /PZHYHYKÛ (R[LRRL THOHSSLSLYP PSL :\IHȴÛ . SR ` ]L ,S`HR\[ R `SLYPUKL `HȴH`HU OLY R ` ]L THOHSSLKLU LU Ha RHKÛU VSTHR aLYL [VWSHT RHKÛUKÛ 7YVQL`L RH[ÛSÛT ZHȘSHTHR ]L LȘP[PTSLYPU `HWÛSHJHȘÛ `LYSLYP ILSPYSLTLR PsPU T\O[HYSHYÛU KLZ[LȘP HSÛUKÛ 7YVQLKL OLKLÅLUPU Z[ UL sÛRÛSHYHR [VWSHT RHKÛUH \SHȴÛSKÛ
4HOHSSL ]L R `SLYKL NLYsLRSLȴ[PYPSLU LȘP[PT sHSÛȴTHSHYÛUKH TLKLUP RHU\U TPYHZ O\R\R\ HPSLUPU RVY\UTHZÛ ]L RHKÛUH ` ULSPR ȴPKKL[PU USLUTLZP RHU\U\ ]H[HUKHȴSÛR OHRSHYÛ ]L ZP`HZHS TLRHUPaTHSHYH RH[ÛSÛT RHKÛUH ` ULSPR ȴPKKL[ HPSL PsP ȴPKKL[ RVU\SHYÛ PȴSLUKP ,ȘP[PTSLY ZÛYHZÛUKH [YH]TH ZVUYHZÛ RYVUPR Z[YLZ IVa\RS\Ș\ RHKÛUSHYKH JPUZLS PZ[PZTHY ]L ȴPKKL[ RVU\SHYÛUKH IPY WZPRVSVN KLZ[LȘPUL PO[P`Hs K\`\SK\Ș\ UN Y SK ]L PSNPSP KLZ[LR ZHȘSHUKÛ 7YVQL H`YÛJH O\R\RP KLZ[LȘL PO[P`Hs K\`HU RHKÛUSHYH \SHȴTHR
2HKÛUÛU ZLZPUP K\`\YTHZÛ RLUKP RHKLYPUP ILSPYSLTLZP ]L N sSLUTLZP OLKLÅLYP`SL ȴLRPSSLULU ¸-HYR ,KP`VY\T .LSPȴP`VY\T +LȘPȴP`VY\T¹ WYVQLZP RHKÛUSHYÛ UJLSPRSL RHKÛUÛU PUZHU OHRSHYÛ RVU\Z\UKH IPSPUsSLUKPYTL`P HTHsSHKÛ 2HKÛUH ` ULSPR ȴPKKL[PU VY[HKHU RHSKÛYÛSTHZÛ ]L ȴPKKL[L THY\a RHSHU RHKÛUSHYÛU `L[LYSP KLZ[LR OPaTL[SLYPUL \SHȴHIPSTLZP HTHJÛ`SH `HWÛSHU LȘP[PTSLY PsPU RVU\Z\UKH \aTHU WZPRVSVNSHY H]\RH[SHY KVR[VYSHY ]L LȘP[PTJPSLYKLU KLZ[LR HSÛUKÛ
99
SABANCI VAKFI /Ȋ), 796.9(40 k@2l3,9Ȋ 2013-2014
2(:;(465< -(92 ,+Ȋ@69<4 .,3ȊͬȊ@69<4 +,͎ȊͬȊ@69<4
]L NLYLRLU `HYKÛTÛ ZHȘSHTHR RVU\Z\UKH KH IHȴHYÛSÛ VSK\ 2HKÛUSHYÛU ZVZ`HS ]L LRVUVTPR OH`H[H RH[ÛSÛTSHYÛUÛ HY[ÛYTHR ]L NPYPȴPTJPSPȘL aLUKPYTLR HTHJÛ`SH ]LYPSLU LȘP[PTKL PZL NLYLRSP VSHU THSP KLZ[LȘPU OHUNP R\Y\TSHYKHU OHUNP WYVQLSLY ]HZÛ[HZÛ PSL HSÛUHJHȘÛ RVU\Z\UKH IPSNPSLUKPYTL `HWÛSKÛ 7YVQL RHWZHTÛUKH THOHSSL ]L R `SLYKL `HWÛSHU LȘP[PT sHSÛȴTHSHYÛUÛU `HUÛ ZÛYH RVUMLYHUZ ]L WHULSSLYL KL `LY ]LYPSKP 2HZ[HTVU\»KH »KH IPUSLYJL RHKÛUÛU RH[ÛSÛTÛ PSL NLYsLRSLȴ[PYPSLU ]L ; YRP`L»KL PSR RHKÛU TP[PUNP VSHYHR HUÛSHU TP[PUNPU `ÛSK U T VSHU (YHSÛR»[H 2HZ[HTVU\ lUP]LYZP[LZP ,ȘP[PT -HR S[LZP»UKL IPY WHULS K aLUSLUKP + U`H 2HKÛUSHY . U »UKL 2HZ[HTVU\ :HUH`P ]L ;PJHYL[ 6KHZÛ»UKH NLYsLRSLȴ[PYPSLU ;VWS\TZHS *PUZP`L[ ,ȴP[SPȘP 2VU\Z\UKH -HYRÛUKHSÛR @HYH[TH RVU\S\ WHULSL RVU\ȴTHJÛ VSHYHR NHaL[LJP `HaHY :LKH 2H`H . SLY ]L H]\RH[ 5PS MLY (` RH[ÛSKÛSHY 7YVQLUPU RHWHUÛȴ [VWSHU[ÛZÛUKH WYVQL RHWZHTÛUKH `HWÛSHU MHHSP`L[SLY ]L LSKL LKPSLU ZVU\sSHY KLȘLYSLUKPYPSKP" LȘP[PTSLY LZUHZÛUKH RHYȴÛSHȴÛSHU ZVY\USHY VY[H`H RVU\SK\ 7YVQL 2VVYKPUH[ Y hPȘKLT ;\UJH` WYVQLUPU KLYULR VSHYHR NLYsLRSLȴ[PYKPRSLYP PSR WYVQL VSK\Ș\U\ ]L sHSÛȴTHSHYÛUH P]TL RHaHUKÛYKÛȘÛUÛ Z `S `VY 7YVQL`SL IHȴSHUNÛs[H OLKLÅLKPRSLYP HTHsSHYH \SHȴ[ÛRSHYÛUÛ Z `SL`LU ;\UJH` 2HZ[HTVU\»KH RHKÛU RVU\Z\UKH sHSÛȴHU KPȘLY 100
:;2»SHYH YULR [LȴRPS L[TL`P \TK\RSHYÛUÛ I\UKHU ZVUYHRP OLKLÅLYPUPU KHOH MHaSH RHKÛUH \SHȴTHR VSK\Ș\U\ ILSPY[P`VY 2HZ[HTVU\»KH aLSSPRSL RÛYZHS RLZPTKL RHKÛUSHYÛU K\Y\T\U\ P`PSLȴ[PYTL`P OLKLÅL`LU WYVQL `HYH[ÛSHU PȴIPYSPRSLYP ]L ZHȘSHUHU KLUL`PTSL NLSLJLR sHSÛȴTHSHYH YULR [LȴRPS LKLJLR IPY UP[LSPR [HȴÛ`VY
2<9<3<ͭ<5 (+0 ; YR lUP]LYZP[LSP 2HKÛUSHY +LYULȘP 2HZ[HTVU\ Ǹ\ILZP 2<9<3<ͭ @030 2<9<3<ͭ /,+,-3,9ȋ +LYULR ([H[ YR PSRL ]L KL]YPTSLYPUP ILUPTZL`LU UP]LYZP[L TLa\U\ ]L `HȴHTÛU OLY HSHUÛUKH ` RZLR HOSHR PSRLSLYPUL IHȘSÛ PUZHU OHRSHYÛUÛ LȴP[ IPYL`SLY VSHYHR R\SSHUHIPSLU RHKÛUSHYÛU [VWS\TKH sHȘKHȴ `HȴHT ]L SHPR K aLU L[YHMÛUKH I [ USLȴTL`P ZHȘSHTHSHYÛ" PUZHUSHY HYHZÛUKH KVZ[S\R VY[HR sHSÛȴTH ]L `HYKÛTSHȴTH PSL RHKÛUÛ OLY HSHUKH N sS ]L LȴP[ RVU\TKH RÛSHYHR SRL RHSRÛUTHZÛUH RH[RÛKH I\S\UTHSHYÛ ]L ; YR RHKÛUÛUÛ `\Y[PsP ]L `\Y[KÛȴÛUKH LU P`P ȴLRPSKL [LTZPS L[TLSLYP HTHJÛ`SH R\Y\ST\ȴ[\Y ȋ3,;ȋͭȋ4 )ȋ3.ȋ3,9ȋ ;LS! 101
SABANCI VAKFI /╚К), 796.9(40 k@2l3,9╚К 2013-2014
2(@:,9╚К @,5╚К3╚К2 =, +,═О╚К═м╚К4 ╚Кh╚К5 ╚К═м;, 3╚К+,9 2(+053(9
<@.<3(4( ╚Л3╚Л 2H`ZLYP 7961, (+0 @LUPSPR ]L +L╚ШP╚┤PT ╟жsPU ╟ж╚┤[L 3PKLY 2HK├ЫUSHY <@.<3(@0*0 2<9<4 2H`ZLYP ╟жSL[P╚┤PTJPSLY +HU├Ы╚┤THUSHY ╟ж╚┤HKHTSHY├Ы +LYUL╚ШP ╟ж+,(+,9 7961, 69;(23(90 ;┬ЕYR ,╚ШP[PT =HRM├Ы ;,= 2H`ZLYP ╟╕\ILZP <@.<3(4( :l9,:╚Л ,`S┬ЕS ┬╢ ╟╕\IH[ 7961, kA,;╚Л 7YVQL 2H`ZLYP┬╗KLRP ┬ЕUP]LYZP[LSLYPU ZVU Z├ЫU├Ы├ЕHY├ЫUKH VR\`HU ]L`H `┬ЕRZLR SPZHUZ WYVNYHTSHY├ЫUH KL]HT LKLU `H╚┤SHY├Ы HYHZ├ЫUKHRP NLUs RHK├ЫU├ЫU SPKLYSPR RVsS\R ]L TLU[┬АYS┬ЕR LRVUVTP ]L ├ДUHUZ PUZHU RH`UHRSHY├Ы ZVZ`HS N┬Е]LUSPR [LRUVSVQP`L LYP╚┤PT NPIP HSHUSHYKH IPSNP ]L ILJLYPSLYPUPU NLSP╚┤[PYPSTLZP`SL sHS├Ы╚┤TH OH`H[├ЫUH N┬ЕsS┬Е IPY IH╚┤SHUN├Ыs `HWTHSHY├ЫU├ЫU ZH╚ШSHUTHZ├ЫU├Ы ]L [VWS\TZHS JPUZP`L[ L╚┤P[SP╚ШP RVU\Z\UKH MHYR├ЫUKHS├ЫRSHY├ЫU├ЫU HY[├ЫY├ЫSTHZ├ЫU├Ы OLKL├ЕLKP
104
.,9h,23,═н;╚Л9╚Л3,5 -((3╚Л@,;3,9 рао 7YVQL RHWZHT├ЫUKH NLUs RHK├ЫU SPKLYSPR RVsS\R ]L TLU[┬АYS┬ЕR LRVUVTP ]L ├ДUHUZ PUZHU RH`UHRSHY├Ы ZVZ`HS N┬Е]LUSPR [LRUVSVQP LYP╚┤PT HSHUSHY├ЫUKH L╚ШP[PT HSK├Ы рао RHK├ЫUH [VWS\TZHS JPUZP`L[ L╚┤P[SP╚ШP ]L RHK├ЫU├ЫU PUZHU OHRSHY├Ы L╚ШP[PTP ]LYPSKP рао ╟ж╚┤]LYLUSLYL `┬АULSPR VSHYHR RHK├ЫU PZ[POKHT├ЫU├Ы [L╚┤]PR L[TLSLYP ]L RHK├ЫU PZ[POKHT├Ы RVU\Z\UKHRP ┬АU`HYN├ЫSHY├ЫU├Ы `LUTLSLYPUP HTHsSH`HU IPY ZLTPULY K┬ЕaLUSLUKP :65<h3(9 рао .LUs RHK├ЫUSHY├ЫU P╚┤ OH`H[├ЫUH OHRSHY├ЫU├Ы IPSLYLR HK├ЫT H[THSHY├Ы ZH╚ШSHUK├Ы рао 2H[├ЫS├ЫTJ├ЫSHYH [VWS\TZHS MHYR├ЫUKHS├Ы╚Ш├Ы RHaHUK├ЫY├ЫSK├Ы
JPUZP`L[
L╚┤P[SP╚ШP
рао ╟ж╚┤]LYLU LYRLRSLYKL [VWS\TZHS JPUZP`L[ ]L RHK├ЫUSHY├ЫU P╚┤ `H╚┤HT├ЫUH RH[├ЫS├ЫT├Ы RVU\SHY├ЫUKH IPSPUs HY[├Ы╚┤├Ы ZH╚ШSHUK├Ы
@,5╚К3╚К2 =, +,═О╚К═м╚К4 ╚Кh╚К5 ╚К═м;, 3╚К+,9 2(+053(9 ;┬ЕYRP`L┬╗KL RHK├ЫUSHY├ЫU P╚┤N┬ЕJ┬ЕUL RH[├ЫS├ЫT VYHU├Ы `├ЫS├Ы ]LYPSLYPUL N┬АYL PSL sVR K┬Е╚┤┬ЕR IPY ZL`PY PaSLTLR[LKPY (]Y\WH )PYSP╚ШP┬╗UKL I\ VYHU ,RVUVTPR 2HSR├ЫUTH ]L ╟ж╚┤IPYSP╚ШP kYN┬Е[┬Е┬╗UL 6,*+ ┬Е`L ┬ЕSRLSLY NLULSPUKL PZL
┬╗[┬ЕY 2HK├ЫUSHY Ro╚Ш├Ы[ ┬ЕaLYPUKL L╚┤P[ OHRSHYH ZHOPW VSZH KH \`N\SHTHKH H`Y├ЫTJ├ЫS├Ы╚ШH THY\a RHSTHR[HK├ЫY ╟ж╚┤`LYPUKL N┬АY┬ЕUTLa JPUZP`L[sP LUNLSSLY [LY├ДSLYKL `H╚┤HUHU L╚┤P[ZPaSPR `┬АUL[PT WVaPZ`VUSHY├ЫU├ЫU ZHKLJL LYRLRSLYL ]LYPSTLZP LU Z├ЫR YHZ[SHUHU ZVY\USHYK├ЫY )\USHY├ЫU `HU├ЫUKH L╚┤P[ P╚┤L L╚┤P[ ┬ЕJYL[ HSTHTHR KV╚Ш\T `H KH LTaPYTL PaPUSLYP R\SSHUTHU├ЫU P╚┤]LYLUSLY [HYHM├ЫUKHU RHK├ЫU PZ[POKHT├ЫU├ЫU KLaH]HU[HQSHY├Ы VSHYHR N┬АY┬ЕSTLZP NPIP RVU\SHY KH RHK├ЫUSHY├Ы P╚┤N┬ЕJ┬Е WP`HZHZ├ЫU├ЫU K├Ы╚┤├ЫUKH [\[THR[HK├ЫY )\ K\Y\T RHK├ЫUSHY├ЫU P╚┤ OH`H[├ЫUH NPYP╚┤PUL `┬АULSPR VSHYHR LYRLU `H╚┤SHYKH HR[PM ┬АUSLTSLY HS├ЫUTHZ├Ы ]L P╚┤ WP`HZHZ├ЫUH NPYTL`L HKH` RHK├ЫUSHY├ЫU N┬ЕsSLUKPYPSTLZP ]L KLZ[LRSLUTLZP P╚┤ WP`HZHZ├ЫU├ЫU H`Y├ЫTJ├Ы \`N\SHTHSHY├ЫU├ЫU KL╚ШP╚┤[PYPSTLZP PsPU sHIH ZHYM LKPSTLZP NLYLR[P╚ШPUP N┬АZ[LYTLR[LKPY 2H`ZLYP ╟жSL[P╚┤PTJPSLY +HU├Ы╚┤THUSHY ╟ж╚┤HKHTSHY├Ы +LYUL╚ШP ╟ж+,(+,9 ]L ;┬ЕYR ,╚ШP[PT =HRM├Ы VY[HRS├Ы╚Ш├ЫUKH OH`H[H NLsLU @LUPSPR ]L +L╚ШP╚┤PT ╟жsPU ╟ж╚┤[L 3PKLY 2HK├ЫUSHY WYVQLZP NLSLJL╚ШPU SPKLY RHK├ЫUSHY├ЫU├ЫU `L[P╚┤TLZP KLZ[LRSLUTLZP HTHJ├Ы`SH
NLSP╚┤[PYPSKP 7YVQLUPU OLKLM RP[SLZP 2H`ZLYP┬╗KLRP ┬ЕUP]LYZP[LSLYPU ZVU Z├ЫU├Ы├ЕHY├ЫUKH VR\`HU ]L`H `┬ЕRZLR SPZHUZ WYVNYHTSHY├ЫUH KL]HT LKLU `H╚┤SHY├Ы HYHZ├ЫUKHRP NLUs RHK├ЫUK├Ы 7YVQL I\ NLUs RHK├ЫUSHY├ЫU NLSLJL╚ШPUKL `LUP \M\RSHY Hs├ЫSTHZ├ЫUH RH[R├Ы ZH╚ШSHTH`├Ы OLKL├ЕLKP 7YVQLKL [VWS\TZHS JPUZP`L[ L╚┤P[SP╚ШP L╚ШP[PTSLYP ]LYPSTLZP RH[├ЫS├ЫTJ├ЫSHY├ЫU ZLsLJLRSLYP TLZSLRSLYPUKL SPKLY VSTHU├ЫU `VSSHY├ЫU├ЫU [LVYPR ]L \`N\SHTHS├Ы VSHYHR N┬АZ[LYPSTLZP ]L I\ ZH`LKL sHS├Ы╚┤TH OH`H[├ЫUH RH[├ЫS├ЫTSHY├ЫU├ЫU RVSH`SH╚┤[├ЫY├ЫSTHZ├Ы HTHsSHUK├Ы 2H[├ЫS├ЫTJ├ЫSHY WYVQL VY[HRSHY├Ы [HYHM├ЫUKHU ZLYNPSLKPRSLYP PZ[LRSPSPR OH`HS N┬ЕJ┬Е ZVY\TS\S\R IPSPUJP RLUKPUL N┬Е]LU sL]YL K\`HYS├ЫS├Ы╚Ш├Ы Z├ЫU├ЫYSHY├Ы aVYSHTH N┬ЕJ┬Е ]L [HSLIP NPIP RYP[LYSLY ├Ы╚┤├Ы╚Ш├ЫUKH ILSPYSLUKP
┬╕;┬ЕYRP`L┬╗KL RHK├ЫUSHY├ЫU WHYSHTLU[VKH P╬Е OH`H[├ЫUKH L═ЫP[PTKLRP `LYP [VWS\TZHS JPUZP`L[ L╬ЕP[SP═ЫP KL═ЫPS KL [VWS\TZHS JPUZP`L[ L╬ЕP[ZPaSP═ЫPUL N┬ЕaLS IPY ┬АYULR UP[LSP═ЫP [H╬Е├Ы`VY )\ L═ЫP[PTPU I\ `HYH`H WHYTHR IHZ[├Ы═Ы├Ы NLUs RHK├ЫUSHYH MHYR├ЫUKHS├ЫR RHaHUK├ЫYK├Ы═Ы├Ы ]L L═ЫP[PTSLYPUL RH[R├Ы ZH═ЫSHK├Ы═Ы├Ы PsPU sVR ┬АULTSP VSK\═Ы\U\ K┬Е╬Е┬ЕU┬Е`VY\T 2HK├ЫU KL═ЫP╬ЕPYZL [VWS\T KH KL═ЫP╬ЕPY KP`L K┬Е╬Е┬ЕU┬Е`VY\T ┬╣ .┬АRsL )PYVS k╚ШYLUJP
105
SABANCI VAKFI /Ȋ), 796.9(40 k@2l3,9Ȋ 2013-2014
2(@:,9Ȋ @,5Ȋ3Ȋ2 =, +,͎ȊͬȊ4 ȊhȊ5 Ȋͬ;, 3Ȋ+,9 2(+053(9
SPKLYSPR `HWHJHȘÛ [LaP`SL `VSH sÛR[ÛR ,ȘP[PTSLYPTPaP MHYRÛUKHSÛRSHYÛUÛU HY[THZÛ ` U UKL [HZHYSHKÛR ǦO[P`Hs ]L PZ[LRSLYPUP IL[PTSLTLSLYPUP ZHȘSHKÛR 2LUKP RHYHR[LY aLSSPRSLYPUP IPYSPR[L [HUÛTSHKÛR )\ RHYHR[LYL N YL OLKLÅLYPUL LU RVSH` UHZÛS \SHȴHIPSLJLRSLYPUP [HY[Ûȴ[ÛR +LȘPȴPT PsPU ȴHY[ VSHU PSR HKÛTÛ H[[ÛR )\UKHU ZVUYH LȘP[PTL RH[ÛSHU RHKÛUSHY PsPU OPsIPY ȴL` LZRPZP NPIP VSTH`HJHR¹ Z aSLYP`SL HKL[H WYVQL`P aL[SP`VYK\
IPY IHRÛȴ HsÛZÛ RHaHUTHSHYÛ PsPU O\R\R IPSPȴPT ]L [LRUVSVQP LRVUVTP ]L ÄUHUZ PSL[PȴPT ]L ZVZ`HS N ]LUSPR KLYZSLYP ]LYPSKP
7YVQLUPU K\`\Y\STHZÛ HTHJÛ`SH NLYsLRSLȴ[PYPSLU IHZÛU [VWSHU[ÛZÛ `HaÛSÛ ]L N YZLS TLK`HKH sÛRHU OHILYSLYSL HTHJÛUH \SHȴ[Û ,ȘP[PTSLYPU IHȴSHTHZÛUÛU HYKÛUKHU `LYLS IPY ;= RHUHSÛUKH `HWÛSHU WYVNYHTSH NLUPȴ RP[SLSLYL OP[HW L[TL MÛYZH[Û VS\ȴ[\ 2H`ZLYP . UKLTP HKSÛ WYVNYHTKH 7YVQL 2VVYKPUH[ Y ǦYMHU )PYVS PSL WYVQLUPU SPKLY RHKÛUSHYÛUKHU (Z\THU +VȘHU WYVQL`P HUSH[[ÛSHY
.,5Ȋͬ 2(7:(430 ,͎Ȋ;Ȋ43,9 =, +,5,@Ȋ43,9 7YVQL RH[ÛSÛTJÛZÛ VSHU NLUs RHKÛUSHYH ZLsLJLRSLYP TLZSLRSLYPUKL SPKLY VSTHSHYÛUÛU `VSSHYÛUÛ [LVYPR ]L \`N\SHTHSÛ VSHYHR N Z[LYLYLR VUSHYÛU sHSÛȴTH OH`H[SHYÛUH RH[ÛSÛTSHYÛUÛ RVSH`SHȴ[ÛYTHR ]L LRVUVTPR N sSLUTLSLYPUP ZHȘSHTHR aLYL R\YN\SHUKÛ 2H[ÛSÛTJÛSHYÛU Pȴ OH`H[ÛUH I [ UJ S 106
)\ KLYZSLYPU `HUÛ ZÛYH NLUs RHKÛUSHY KLUL`PT WH`SHȴÛTSHYÛUÛ KH PsLYLU sVR ZH`ÛKH MHYRSÛ L[RPUSPȘL KL RH[ÛSKÛSHY ¸*HT ;H]HUSHYÛTÛ 2ÛYÛ`VY\T¹ `\T\Y[H KLUL`PUKL `L[LULRSLYP HYHȴ[ÛYÛSKÛ" LUNLSSLYSL IHȴH sÛRHIPSTL IHȴHYÛ ]L IHȴHYÛZÛaSÛR `LUPKLU KLULTL NPIP RH]YHTSHY aLYPUKL K\Y\SK\ ¸3PKLYSLY .LSLJLȘPU 3PKLYSLYP PSL )\S\ȴ\`VY¹ L[RPUSPȘPUKL 2H`ZLYP 2HKÛU .PYPȴPTJP 2\Y\S\ 2\Y\J\ )HȴRHUÛ ]L ǦȴRHKÛUÛ ǸHMHR hP]PJP PSL ; YR 2HKÛUSHY )PYSPȘP 2H`ZLYP Ǹ\IL )HȴRHUÛ ,JaHJÛ (`ȴL <a\US\ NLUs RHKÛUSHYSH KLUL`PTSLYPUP WH`SHȴ[Û ¸.LSLJLȘPU 3PKLYSLYP ;,= )\YZP`LYSLYP PSL )\S\ȴ\`VY¹ L[RPUSPȘP RH[ÛSÛTÛ ]L ]LYPTSPSPȘP HsÛZÛUKHU sVR IHȴHYÛSÛ VSK\ RPȴPUPU RH[ÛSKÛȘÛ ¸:HTPTP`L[ KVS\ Z YLs [HOTPU L[[P͛PTKLU KHOH N aLS KHOH IPSNP KVS\ ]L RLUKPTPaP KHOH P`P [HUÛ`HYHR NLs[P (Y[ÛR IPY K\Y\T RHY΅ÛZÛUKH ILSRP IPSKP͛PTPa MHRH[ sVR Ha R\SSHUKÛ͛ÛTÛa ILSRP KL IPSTLKP͛PTPa PsPU R\SSHUTHKÛ͛ÛTÛa ULKLUSLYSL s a TZ a ZVY\USHY VSTH`HJHR ¹ ; SH` ,STHJÛLY kȘYLUJP
I\ L[RPUSPR[L NLUs RHKÛUSHY ;,= I\YZP`LYP ȘYLUJPSLYSL LRPWSLY OHSPUKL IPYSPR[L sHSÛȴ[ÛSHY )\ KLUL`PT WH`SHȴÛTÛ sHSÛȴTHZÛ`SH HSKÛRSHYÛ LȘP[PTP IHȴRHSHYÛUH HR[HYHIPSKPRSLYPUP N YT ȴ VSK\SHY ]L I\ VUSHY PsPU KL TLU[ YS R[L PSR KLUL`PTSLYP VSK\ ¸<s\Y[THT ]L )LU¹ L[RPUSPȘPUKL RLUKP LSSLYP`SL \s\Y[TH `HW[ÛSHY )\ sHSÛȴTHUÛU [LTHZÛ \s\Y[THKHRP KLUNL RH]YHTÛ PSL OH`H[[HRP KLUNL RH]YHTÛUÛU I [ USLȴ[PYPSTLZP`KP ¸.LSLJLȘPTP )LU hPaP`VY\T¹ HKSÛ sHSÛȴTHUÛU [LTLS OLKLÄ PZL RH[ÛSÛTJÛSHYÛU `L[LULRSLYP KVȘY\S[\Z\UKH RHYP`LY OLKLÅLYPUP ILSPYSLTLSLYPUP ZHȘSHTHR[Û )\ L[RPUSPR[L KVȘY\KHU ZVY\SHY [LZ[SLY \aTHU ` USLUKPYTLSLYP HYHJÛSÛȘÛ`SH ZVU\JH \SHȴÛSTH`H sHSÛȴÛSKÛ 3PKLYSPR LȘP[PTSLYP PSL IHȴSH`HU Z YLs[L NLUs RHKÛUSHY RLUKP `L[LULRSLYP PSL NLSLJLR[L UL `HWTHR PZ[LKPRSLYP HYHZÛUKHRP IHȘÛ R\YK\SHY 7YVQL LȘP[TLUSLYPUKLU 9 `H +LTL[ 2 RZV`! ¸5L IPSKPȘPUP ]L PZ[LKPȘPUP IPSLU RHKÛUSHYÛU NLSLJLR[L
7YVQL`SL LSKL LKPSLU KLUL`PTSLYPU HUSH[ÛSKÛȘÛ .LSLJLȘPTP )LU hPaP`VY\T RP[HWsÛȘÛ RH[ÛSÛTJÛSHYKHU +LTL[ @HSsÛU»ÛU Y WVY[HQSHYÛ ]L /PSKH kaKLTPY»PU RHYPRH[ YSLYP PSL YLURSLUKP 7YVQLUPU ,ȘP[PT 2VVYKPUH[ Y +LTL[ 2HSRTHa ¸; YRP`L»KL RHKÛUSHYÛU ` UL[PT RHKLTLSLYPUL \SHȴTHSHYÛUÛU U UKL LUNLSSLY ]HY¹ KP`VY
¸7YVQL RLUKPTP [HUÛTHTÛ ]L RLUKPTPU MHYRÛUH ]HYTHTÛ ZH͛SHKÛ RLUKPT KÛ΅ÛUKH KH MHYRÛUKHSÛRSHYÛT VSK\ sL]YLTL RHY΅Û ]L aN ]LUPTKL HY[Û΅ TL`KHUH NLSKP :VZ`HS IPY VY[HT ZH͛SHUKÛ OVJHSHYÛTÛU KLUL`PTSLYPUP ]L IH΅HYÛSHYÛUÛ YULR HSKÛT ΄\U\U KH MHYRÛUH ]HYKÛT" ` RZLSTL HKÛTSHYÛ PRP JPUZ [HYHMÛUKHU ILYHILY HYRHKH΅sH H[ÛSTHSÛ PSLYSLTL ]L `LUPSPR HSHUÛUKH IPYSPR[L `VS HSÛUTHSÛ ¹ 3L`SH lSRLY kȘYLUJP
107
SABANCI VAKFI /Ȋ), 796.9(40 k@2l3,9Ȋ 2013-2014
2(@:,9Ȋ @,5Ȋ3Ȋ2 =, +,͎ȊͬȊ4 ȊhȊ5 Ȋͬ;, 3Ȋ+,9 2(+053(9
2HSRTHa WYVQLUPU RHaHUÛTSHYÛUÛ ȴ `SL KPSL NL[PYP`VY! ¸7YVQLTPaP OPZZL[TLR KLUL`PTSLTLR ]L \`N\SHTHR aLYPUL `HWÛSHUKÛYKÛR =LYKPȘPTPa LȘP[PTSLYPU ZVU\J\ º.LSLJLȘPTP )LU hPaP`VY\T» RP[HWsÛȘÛUÛ OHaÛYSH`HU OLKLM RP[SLTPa NLSLJLR WSHUSHYÛUÛ sPaKPSLY º3PKLY 2HKÛUSHY .LSLJLȘPU 3PKLYSLYP PSL )\S\ȴ\`VY» L[RPUSPRSLYPTPaSL KLUL`PT WH`SHȴÛTSHYÛUH ]LZPSL VSK\R ;VWS\TZHS JPUZP`L[ LȴP[SPȘP RVU\Z\UKH OLKLM RP[SLTPaPU MHYRÛUKHSÛȘÛUÛ HY[[ÛYKÛȘÛTÛaÛ K ȴ U `VY\T :HUÛYÛT ]LYKPȘPTPa LȘP[PTSLYPU L[RPZP`SL WVaP[PM K ȴ UJL PSL OHYLRL[ LKLJLR RLUKP KH]YHUÛȴ R S[ YSLYPUP aHTHU PsLYPZPUKL VS\ȴ[\YHJHRSHYKÛY ¹
-HYRÛUKHSÛȘÛUÛ (Y[ÛYTH :LTPULYP PZL 2H`ZLYP :HUH`P 6KHZÛ»UKH `HWÛSKÛ RPȴPUPU RH[ÛSKÛȘÛ ZLTPULYKL [VWS\TZHS JPUZP`L[ LȴP[SPȘP ]L ; YRP`L»UPU K\Y\T\ ; YRP`L»KL ]L 2H`ZLYP»KL RHKÛU PZ[POKHT VYHUSHYÛ RHKÛUSHYÛU PZ[POKHTÛUH ` ULSPR WVSP[PRHSHY RHKÛUSHYÛU PȴN J UL RH[ÛSÛTÛ ` U UKLRP LUNLSSLY ]L s a T `VSSHYÛ Pȴ `HȴHTÛUKH RHKÛUSHYH KHPY RHSÛW `HYNÛSHY RVU\SHYÛUKH IPSNPSLUKPYTLSLYPU HYKÛUKHU RH[ÛSÛTJÛSHYÛU N Y ȴSLYP HSÛUKÛ )\ ZLTPULY H`UÛ aHTHUKH WYVQLUPU 2HWHUÛȴ ; YLUP»UL KL ZHOUL VSK\ ; YLUKL RH[ÛSÛTJÛSHYH ILSNLSLYP Z\U\SK\ .LUs RHKÛUSHY YVS TVKLSSLYP`SL IPY RLa KHOH IPY HYH`H NLSKPSLY
7961, 2(7:(405+( Ȋ2Ȋ :,4Ȋ5,9 .,9h,23,ͬ;Ȋ
7YVQL NLSLJLȘPU NLUs SPKLYSLYPUP RLUKPSLYPUP NLYsLRSLȴ[PYTL ]L TV[P]L VSTH `VS\UKH OHYLRL[L NLsPYKP
;VWS\TZHS *PUZP`L[ ,ȴP[SPȘP ]L 2HKÛUÛU ǦUZHU /HRSHYÛ ZLTPULYP NLUs RHKÛUSHYÛU KLUL`PT WH`SHȴÛTSHYÛ`SH KVS\ KVS\ NLYsLRSLȴ[P 2HKÛUSHYÛU PȴN J UL RH[ÛSÛTÛUÛ HY[[ÛYTH`H ` ULSPR Ǧȴ]LYLU 108
2<9<3<ͭ<5 (+0 2H`ZLYP ǦSL[PȴPTJPSLY +HUÛȴTHUSHY ǦȴHKHTSHYÛ +LYULȘP 2<9<3<ͭ @030 2<9<3<ͭ /,+,-3,9ȋ +LYULR 2H`ZLYP»KL PSL[PȴPTJP KHUÛȴTHU ]L PȴHKHTSHYÛUÛU TLZSLRP KH`HUÛȴTHZÛUÛ HY[ÛYTHR PSL[PȴPTJP KHUÛȴTHU ]L NPYPȴPTJPSLYP NLSPȴ[PYTLR" Pȴ K U`HZÛ PSL ZVZ`HS ]L R S[ YLS [VWSHU[ÛSHY K aLUSLTLR `H`ÛUSHY `HWTHR" ZP]PS [VWS\T R\Y\S\ȴSHYÛUÛU MHHSP`L[ RHWHZP[LSLYPUPU HY[ÛYÛSTHZÛ ` U UKL L[RPUSPRSLY K aLUSLTLR HTHJÛ PSL R\Y\ST\ȴ[\Y ȋ3,;ȋͭȋ4 )ȋ3.ȋ3,9ȋ ;LS! 109
SABANCI VAKFI /╚К), 796.9(40 k@2l3,9╚К 2013-2014
2(@:,9╚К ┬╕/(@(;( =, :(5( .l=,5╚К@69<4┬╣ (3A/,04,9 /(:;( /╚КA4,;3╚К:╚К ,═О╚К;╚К4╚К
<@.<3(4( ╚Л3╚Л 2H`ZLYP 7961, (+0 ┬╕/H`H[H ]L :HUH .┬Е]LUP`VY\T┬╣ (SaOLPTLY /HZ[H /PaTL[SPZP ,╚ШP[PTP
рао /LKLM NY\W [LVYPR ]L WYH[PR (SaOLPTLY OHZ[H IHR├ЫT L╚ШP[PTP HSK├Ы
<@.<3(@0*0 2<9<4 2H`ZLYP 2HK├ЫU ╟ж╚┤IPYSP╚ШPUP .LSP╚┤[PYTL +LYUL╚ШP 2╟ж.+,9
рао RP╚┤PSPR IPY NY\W Z[HQSHY├ЫU├Ы ;PJHYL[ 6KHZ├Ы┬╗U├ЫU KLZ[L╚ШP PSL NLYsLRSL╚┤[PYLYLR P╚┤ OH`H[├ЫUH HK├ЫT H[T├Ы╚┤ VSK\
7961, 69;(23(90 ,YJP`LZ lUP]LYZP[LZP :H╚ШS├ЫR )PSPTSLYP -HR┬ЕS[LZP 4LSPRNHaP :H╚ШS├ЫR ]L 2┬ЕS[┬ЕY :VZ`HS @HYK├ЫTSH╚┤TH =HRM├Ы 2H`ZLYP ;PJHYL[ 6KHZ├Ы 2HK├ЫU .PYP╚┤PTJP 2\Y\S\
рао ;┬ЕT RH[├ЫS├ЫTJ├ЫSHYH [VWS\TZHS JPUZP`L[ L╚┤P[SP╚ШP L╚ШP[PTP ]LYPSKP
<@.<3(4( :l9,:╚Л ,RPT ┬╢ /HaPYHU
:65<h3(9 рао P╚┤ZPa RHK├ЫU NLSPY NL[PYPJP MHHSP`L[SLYL RH[├ЫS├ЫT PsPU OHa├ЫYSHUT├Ы╚┤ VSK\
7961, kA,;╚Л `H╚┤ HYHZ├Ы P╚┤ZPa RHK├ЫU├ЫU RHK├ЫU OHRSHY├Ы RVU\Z\UKH IPSPUsSLUKPYPSTLZP ]L TLZSLRP ILJLYPSLYPUPU HY[[├ЫY├ЫSTHZ├Ы `VS\`SH PZ[POKHTH RH[├ЫS├ЫTSHY├ЫU├ЫU KLZ[LRSLUTLZP HTHsSHUK├Ы )\ sLYsL]LKL ZHH[SPR IPSPUsSLUKPYTL L╚ШP[PTP ZHH[SPR (SaOLPTLY OHZ[H OPaTL[SPZP L╚ШP[PTP ]L ZHH[SPR P╚┤ OH`H[├ЫUH \`\T RVsS\╚Ш\ OPaTL[SLYP ZH╚ШSHUK├Ы
110
2H`ZLYP (SaOLPTLY +LYUL╚ШP ╚┤\ILZPUPU ]LYPSLYPUL N┬АYL `H╚┤ ┬ЕZ[┬Е U┬ЕM\Z\U ┬╗\U\U KLTHUZ OHZ[HZ├Ы VSK\╚Ш\ I\U\U ┬╗ZPUPU KL (SaOLPTLY OHZ[HZ├Ы VSK\╚Ш\ K┬Е╚┤┬ЕU┬ЕS┬Е`VY )\ K\Y\TKH 2H`ZLYP┬╗KL ULYLKL`ZL JP]HY├ЫUKH (SaOLPTLY OHZ[HZ├Ы VSK\╚Ш\ [HOTPU LKPSP`VY hHS├Ы╚┤THR PZ[L`LU RHK├ЫUSHYH (SaOLPTLY OHZ[HSHY├ЫUH IHR├ЫJ├ЫS├ЫR RVU\Z\UKH PO[PZHZ RHaHUK├ЫYTHR I\ HSHUKH PO[P`Hs K\`\SHU L╚ШP[PTSP PUZHU Hs├Ы╚Ш├ЫU├Ы RHWH[TH`H OPaTL[ LKLIPSPY
.,9h,23,═н;╚Л9╚Л3,5 -((3╚Л@,;3,9 рао P╚┤ZPa RHK├ЫU IPSPUsSLUKPYTL L╚ШP[PTP HSHYHR P╚┤ OH`H[├ЫUH NPYP╚┤ RVU\Z\UKH ├ДRPY ZHOPIP VSK\
рао ;┬ЕYR ZPULTHZ├ЫU├ЫU RHK├ЫU [LTHS├Ы ├ДSTSLYPUPU N┬АZ[LYPTP PSL TLK`H VR\THZ├Ы NLYsLRSL╚┤[PYPSKP
рао 7YVQL ZVU\UKH RHK├ЫUH PZ[POKHT VSHUH╚Ш├Ы ZH╚ШSHUK├Ы рао ;VWS\TZHS JPUZP`L[ IPSPUsSLUTL ZH╚ШSHUK├Ы
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SABANCI VAKFI /╚К), 796.9(40 k@2l3,9╚К 2013-2014
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138
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SABANCI VAKFI /Ȋ), 796.9(40 k@2l3,9Ȋ 2013-2014
26*(,3Ȋ .,5h 2(+053(9 =, Ȋ:;Ȋ/+(4 +l5@(:0
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SABANCI VAKFI /Ȋ), 796.9(40 k@2l3,9Ȋ 2013-2014
26*(,3Ȋ .,5h 2(+053(9 =, Ȋ:;Ȋ/+(4 +l5@(:0
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