The United Kingdom has played a prominent role in the Common Fisheries Policy—by contributing to fisheries activities and also by participating in the design of the fisheries policy. Brexit is certain to have significant repercussions for European fisheries activities and their management. This study analyses the views held by companies linked to the fisheries sector in Galicia (fishing, wholesale trade, canned fish, aquaculture, and fish processing), one of the European regions most affected by Brexit given that more than 80% of the Spanish fishing fleet working on UK waters is located in this region. We adopt a quantitative methodology based on the Pearson’s chi-squared test, the likelihood ratio, and the Fisher’s exact test for analyzing opinions about various topics. Results indicate that companies engaged in marine fisheries or trade in fishing goods hold a mostly negative view of Brexit’s effects. In total, 30% of those surveyed anticipate that Brexit will have negative consequences for EU workers in UK fishery companies; a slightly higher percentage of these respondents expect the United Kingdom’s exit from the EU to depress Spain’s foreign trade; over half of those surveyed perceived Brexit as resulting in the adverse scenario of reduced access to fisheries’ resources and were in favor of reformulating the current system of total allowable catches (TACs) and quotas among the remaining post-Brexit member states. Most respondents also agreed that Brexit will have negative repercussions on vessels of the Galician fleet operating under the British flag. Our statistical analysis identifies a significant relationship between negative attitudes and the firm’s size for fisheries’ sectors as a whole; however, no relation between those attitudes and firm size or turnover is identified when the particular fishing companies’ perceptions are evaluated.

This study addresses the analysis of the perception of Galician companies linked to marine fishing, wholesale trade, fish canning, marine aquaculture and processing. An analysis of perceptions of trade in goods, worker mobility, foreign fisheries policy and access to fishery resources is carried out. Inferential analysis is also performed by considering contingency tables based on the factors extracted. The results reflect a majority negative perception of the Brexit process by companies in the Marine Fisheries and Marketing branches of fishery products, with this perception being particularly significant in smaller size companies.

The importance of derivative financial instruments is reflected in the steady growth observed in their trading volumes at the worldwide level, from the moment they were first created at the end of the 20thCentury. In this framework, and considering the high grade of correlation among the different sectors of the asset market, we will analyze like it affects the expiration-effect of derivative instruments from the selective ibex-35 spanish index to the rest indexes of the market. To do so, we consider the different segments of the Spanish stock market, as represented by their general and sector indexes with daily data and we verify whether the stock market indexes show returns, volatility and trading volumes on the expiration dates of the derivatives that are significantly different from those observed on the rest of the days of the period. Our analyses indicate that the models of the expiration effect are indeed different among segments, verifying, in general, that this effect only appears in the volume and the returns. With such a focus, the investor could foresee an optimal strategy to make profits and minimize his risk on the stock prices.

This paper studies the evolution of the daily exchange rates volatilities of five european currencies against the US dollar. The aim of this paper is to perform whether there are common factors in the evolution of these exchange rates flexibles during stability and unstability periods. Several alternative models have been proposed in the literature o to the model time varying volatilities. In this paper, we fit two parametric models, GARCH and GJR-GARCH for the years 1992 to 1993 and 1995 to 1997. We will show how these models within-sample estimates of volatility can be captured asymetric effects of news, specially in periods with high speculation. Summarizing, we can conclude that these results have the atractive over the exchange rate flexible markets, particularly in the risk premium exchange rate manage.