María Dolores Garza Gil

In Spain, the leader in pesticide sales in the European Union, a high-tech and innovative company provides services to the wine industry to optimise phytosanitary work, reduce crop losses and lower production costs. Although the nature of its business encourages the transition to a sustainable agri-food system, it also involves risks associated with uncertainty. The objective of this article was to perform the valuation of the company through the real options approach, including an expansion option, analysing whether this company will be able to increase the value of its project by expanding its activity to a larger number of vineyards. Results showed that the application of the real options approach projected a higher result than the traditional net present value method, so that if the company makes additional investments in its precision agriculture project, these will increase the value by a 15%.

The United Kingdom has played a prominent role in the Common Fisheries Policy—by contributing to fisheries activities and also by participating in the design of the fisheries policy. Brexit is certain to have significant repercussions for European fisheries activities and their management. This study analyses the views held by companies linked to the fisheries sector in Galicia (fishing, wholesale trade, canned fish, aquaculture, and fish processing), one of the European regions most affected by Brexit given that more than 80% of the Spanish fishing fleet working on UK waters is located in this region. We adopt a quantitative methodology based on the Pearson’s chi-squared test, the likelihood ratio, and the Fisher’s exact test for analyzing opinions about various topics. Results indicate that companies engaged in marine fisheries or trade in fishing goods hold a mostly negative view of Brexit’s effects. In total, 30% of those surveyed anticipate that Brexit will have negative consequences for EU workers in UK fishery companies; a slightly higher percentage of these respondents expect the United Kingdom’s exit from the EU to depress Spain’s foreign trade; over half of those surveyed perceived Brexit as resulting in the adverse scenario of reduced access to fisheries’ resources and were in favor of reformulating the current system of total allowable catches (TACs) and quotas among the remaining post-Brexit member states. Most respondents also agreed that Brexit will have negative repercussions on vessels of the Galician fleet operating under the British flag. Our statistical analysis identifies a significant relationship between negative attitudes and the firm’s size for fisheries’ sectors as a whole; however, no relation between those attitudes and firm size or turnover is identified when the particular fishing companies’ perceptions are evaluated.

In 2012, the Argentine government expropriated 51% of the shares of Yacimientos Petrolíferos Fiscales S.A. (YPF) from the Spanish company Repsol S.A. The YPF was nationalized without prior compensation, violating Argentina’s own laws and, consequently, the institutional framework in force in the country. As a consequence, the country’s reputation deteriorated and, although there were several contacts with multinational enterprises to become YPF’s new partner, the investment climate was affected, making it really difficult to attract Foreign Direct Investment (FDI). In order to attract these investments after the expropriation, the Argentine government understands that it is necessary to settle the legal proceedings with Repsol. In order to avoid an imperfect judicial procedure of long duration and with high transaction costs, both parties reached a settlement agreement. This paper presents an institutional economic analysis of expropriation, contextualizing it within the Argentine institutional framework and studying the trajectory of the nationalization of YPF. In this way, it seeks to contextualize institutionally the Argentine government’s decision and the impact it has had on both the FDI and the credibility of the country’s institutional framework. It also analyzes how the resolution of the conflict occurs through an agreement between the parties that avoids the judicial process, given its high transaction costs.

This study addresses the analysis of the perception of Galician companies linked to marine fishing, wholesale trade, fish canning, marine aquaculture and processing. An analysis of perceptions of trade in goods, worker mobility, foreign fisheries policy and access to fishery resources is carried out. Inferential analysis is also performed by considering contingency tables based on the factors extracted. The results reflect a majority negative perception of the Brexit process by companies in the Marine Fisheries and Marketing branches of fishery products, with this perception being particularly significant in smaller size companies.

The need to plan the maritime space arises from the competition for the use of a scarce resource (the maritime space). It is assumed that the planning helps to resolve this type of conflicts, enabling greater economic benefits for society. In spite of this, a first review of the economic literature offers few examples of estimation of the economic impacts linked to the Marine Spatial Planning (MSP). In this paper, a systematized review of the economic literature is presented and the results obtained are analyzed according to various classification criteria.

Using Taxes to Manage a Multigear Fishery: An Application to a Spanish Fishery | InTechOpen, Published on: 2016-09-28. Authors: M. Dolores Garza‐Gil, Manuel Varela‐Lafuente and Juan C. Surís‐ Regueiro