Q22 - Renewable Resources and Conservation: Fishery; AquacultureReturn

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

José Antonio Vidal Hernandez-Mora, Marcos Antón Renart, María del Rocío Moreno Enguix

European Financial and Accounting Journal 2009, 4(2):34-64 | DOI: 10.18267/j.efaj.66

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.