Valuating single payment entitlements: Spain

  • V. Caballer Facultad de Administración y Dirección de Empresas.Valencia
  • N. Guadalajara Facultad de Administración y Dirección de Empresas.Valencia
  • E. de la Poza Facultad de Administración y Dirección de Empresas.Valencia
Keywords: SPAIN, FARMS, CAP, SUBSIDIES, VALUATION

Abstract

This paper attempts to develop a valuation method for estimating the market value of the single payment system (SPS) entitlements in the community agricultural policy (CAP) reform. These entitlements are a new agricultural intangible asset which is not linked to land and has a similar financial performance to bonds. After applying the PERT method, which was applied to the inherent risk involved in valuing fixed income assets, and specifically to the uncertainty of CAP after 2013, this methodology is applied to estimate the average value of entitlements in Spain.

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Published
2009-12-01
How to Cite
Caballer, V., Guadalajara, N., & Poza, E. de la. (2009). Valuating single payment entitlements: Spain. Spanish Journal of Agricultural Research, 7(4), 737-749. https://doi.org/10.5424/sjar/2009074-1088
Section
Agricultural economics