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An Analysis of the Dependence of the Spanish Fisheries Industry on the Financial Instrument for Fisheries Guidance

Author

Listed:
  • José Antonio Vidal Hernandez-Mora
  • Marcos Antón Renart
  • María del Rocío Moreno Enguix

Abstract

Fisheries are an important economic sector in the EU subject to an important restructuring in the most recent years. The Financial Instrument for Fisheries Guidance (FIFG) has been the tool deployed by the European authorities to increase the competitiveness and to modernize this industry. As far as Spain is concerned, it has been verified that it is the European country receiving more funds in the recent years. The aim of this paper is to examine the financial situation of the Spanish fisheries firms, determining their indebtedness, solvency, and profitability. We also analyse if those firms included in the Fisheries sector show differences statistically significant. Along the same lines, one of the aims of the study is to carry out an analysis of the financial needs of these firms, considering the extent to which the European funds received along the latest years may have helped Fisheries the industry in Spain.

Suggested Citation

  • José Antonio Vidal Hernandez-Mora & Marcos Antón Renart & María del Rocío Moreno Enguix, 2009. "An Analysis of the Dependence of the Spanish Fisheries Industry on the Financial Instrument for Fisheries Guidance," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2009(2), pages 34-64.
    • Handle: RePEc:prg:jnlefa:v:2009:y:2009:i:2:id:66:p:34-64
    DOI: 10.18267/j.efaj.66
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    References listed on IDEAS

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    1. Ohlson, Ja, 1980. "Financial Ratios And The Probabilistic Prediction Of Bankruptcy," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 18(1), pages 109-131.
    2. Frank Jensen & Niels Vestergaard, 2002. "A Principal-Agent Analysis of Fisheries," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 158(2), pages 276-285, June.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

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    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery

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