Urban mobility trends and climate change: sustainability policies in the parking industry.

The concern to create cleaner and more ecosystem-friendly production processes has extended to the parking sector in Spain. Since the creation of the multi-level institutional framework for sustainable mobility management (mainly composed of the Infrastructure, Transport and Housing Plan 2012-2024, the Sustainable Urban Mobility Plans, Law 9/2006, and Law 9/2017), environmental considerations, including sustainable management certificates, have occupied a privileged place in public procedures for the management of parking structures and regulated surface parking facilities. Although there have been previous academic studies on the design and implementation of SUMPs and the growth of the parking sector, this article is novel in that it analyzes the market concentration of the parking sector in a scenario where climate change policies are crucial and the importance of sustainability certificates takes on a new meaning. Therefore, the objective of this article is to analyze whether the growing importance of environmental aspects has led to an increase in the concentration level of the parking sector in Spain. For this purpose, several concentration and stability indices are calculated. The results show that, although there are additional factors, the certification of a cleaner activity is relevant in the process of public tenders in the sector, which has served to strengthen the dominance of the most prominent companies in the sector that are in possession of environmental certificates. This shows that environmental policies can also have negative effects on the market, so the results of this analysis are of great value to policymakers.

Valuation of a Company Producing and Trading Seaweed for Human Consumption: Classical Methods vs. Real Options.

Aquaculture is an increasingly relevant sector in the exploitation of natural resources; therefore, it is appropriate to propose various models that include the fundamental variables for its economic-financial valuation from a business point of view. The objective of this paper is to analyze different models for the valuation of investment projects in a company in the aquaculture sector in order to conclude whether there is a model that represents a better valuation. Therefore, in this study, four valuation models have been applied, three classical models (net present value, internal rate of return, and payback) and a more recent model, real options (RO) for a company producing and marketing seaweed in Galicia (region located in the northwest of Spain). The results obtained, RO (€5,527,144.04) and net present value (€5,479,659.19), conclude that the RO model estimates a higher added value by taking into account in its calculations the flexibility given by the expansion option. Future lines of research include the application of valuation models that have been applied to companies belonging to the same sector in order to compare whether the results found are similar.