Geographical proximity on the valuations of unlisted agrarian companiesdoes distance from company to company and to strategic points matter?

  1. Paolo Occhino 1
  2. Mariluz Maté 1
  1. 1 Technical University of Cartagena, España
Revista:
Spanish journal of agricultural research

ISSN: 1695-971X,  2171-9292

Año de publicación: 2017

Volumen: 15

Número: 2

Tipo: Artículo

DOI: 10.5424/SJAR/2017152-10282 DIALNET GOOGLE SCHOLAR lock_openDialnet editor

Otras publicaciones en: Spanish journal of agricultural research

Resumen

This paper is a first attempt to examine the role played by the geography on agrarian firms’ valuations. The geography was evaluated through the physical proximity from agrarian companies to other companies and to some strategic points which ease their accessibility to external economic agents. To get our purpose, we developed an empirical application on a sample of non-listed agrarian Spanish companies located in the region of Murcia over the period 2010-2015. We applied Discount Cash Flow methodology for non-listed companies to get their valuations. With this information, we used spatial econometric techniques to analyse the spatial distribution of agrarian firms’ valuations and model the behavior of this variable. Our results supported the assertion that agrarian firms’ valuations are conditioned by the geography. We found that firms with similar valuations tend to be grouped together in the territory. In addition, we found significant effects on agrarian firms valuations derived from the geographical proximity among closer agrarian companies and from them to external agents and transport facilities.

€ Ver financiación

Información de financiación

Fundaci?n S?neca (Project 19884/GERM/15).

Financiadores

    • 19884/GERM/15

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