Small companies facing the mobility policy in Spain: Is it profitable to remain in the market?

The parking sector in Spain has experienced a growing trend in recent years. At the same time, the level of market concentration has increased. One of the main reasons behind this phenomenon is due to the mobility policy established both at the national (Spain) and supranational (European Union) levels, which is based on environmental sustainability criteria. Increasingly, the possession of environmental certificates, widespread among large companies but not among small ones, is increasingly decisive to obtain a public parking tender. The objective of this work is to analyze whether small companies, which are a large number in the sector, have possibilities of continuing their activity in the market in the face of an increase in the degree of sustainability in mobility policies. For this purpose, the Real Options methodology will be used, applying an abandonment option for a period of 10 years. The results provide a high NPV value (€598,491.2) and a Real Options value, together with the exit option, of €630,341.9. The exit option contributes a growth of only 5.32% with respect to the NPV. Therefore, the option to stay in the market is an appropriate choice for decision-makers.

• Record URL:
  • https://doi.org/10.1016/j.tranpol.2022.09.021
• Record URL:
  • http://www.sciencedirect.com/science/article/pii/S0967070X22002633
• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/oclc/29485010
• Supplemental Notes:
  • © 2022 Elsevier Ltd. All rights reserved. Abstract reprinted with permission of Elsevier.
• Authors:
  • Fernández-González, Raquel
  • 0000-0001-5356-2793
  • Pérez-Vas, Raisa
  • 0000-0003-1728-4532
  • Puime-Guillén, Félix
• Publication Date: 2022-11

Language

• English

Media Info

• Media Type: Web
• Features: Figures; References; Tables;
• Pagination: pp 113-120
• Serial:
  • Transport Policy
  • Volume: 128
  • Issue Number: 0
  • Publisher: Elsevier
  • ISSN: 0967-070X
  • Serial URL: http://www.elsevier.com/locate/issn/096707X

Subject/Index Terms

• TRT Terms: Cash flow; Mobility; Parking; Sustainable transportation; Transportation policy
• Geographic Terms: Spain
• Subject Areas: Finance; Operations and Traffic Management; Policy; Transportation (General);

Filing Info

• Accession Number: 01866077
• Record Type: Publication
• Files: TRIS
• Created Date: Nov 30 2022 10:59AM