Scandinavian Working Papers in Economics
HomeAboutSeriesSubject/JEL codesAdvanced Search
University of Stavanger UiS Working Papers in Economics and Finance

No 2016/17:
Common and Fundamental Risk Factors in Shareholder Returns of Norwegian Salmon Producing Companies

Bard Misund ()

Abstract: Salmon farming companies are increasingly gaining attention from investors and portfolio managers. The last decade has seen a substantial growth in the securitization of salmon farming assets and prices. A growing literature demonstrates that industry-specific fundamental, as well as market-wide risk factors help explain stock returns. However, very little is known about the pricing of salmon stocks and especially the contribution of industry-specific fundamental risk factors. Using a multifactor model, we find that stock returns for salmon farming firms are significantly associated with both common market-wide risks and industry-specific risk factors.

Keywords: Atlantic salmon production; salmon company valuation; stock returns; risk factors; salmon price.; (follow links to similar papers)

JEL-Codes: G12; G31; Q02; Q14; (follow links to similar papers)

20 pages, December 15, 2016

Before downloading any of the electronic versions below you should read our statement on copyright.
Download GhostScript for viewing Postscript files and the Acrobat Reader for viewing and printing pdf files.

Full text versions of the paper:

uis_wps_2016_17_misund.pdf    PDF-file
Download Statistics

Questions (including download problems) about the papers in this series should be directed to Bernt Arne Odegaard ()
Report other problems with accessing this service to Sune Karlsson () or Helena Lundin ().

Programing by
Design by Joachim Ekebom

Handle: RePEc:hhs:stavef:2016_017 This page was generated on 2016-12-15 12:57:04