EconPapers    
Economics at your fingertips  
 

Common and fundamental risk factors in shareholder returns of Norwegian salmon producing companies

Bård Misund

Journal of Commodity Markets, 2018, vol. 12, issue C, 19-30

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 (search for similar items in EconPapers)
JEL-codes: G12 G31 Q02 Q14 Q22 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S2405851317302283
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:jocoma:v:12:y:2018:i:c:p:19-30

DOI: 10.1016/j.jcomm.2017.12.007

Access Statistics for this article

Journal of Commodity Markets is currently edited by Marcel Prokopczuk, Betty Simkins and Sjur Westgaard

More articles in Journal of Commodity Markets from Elsevier
Bibliographic data for series maintained by Haili He ().

 
Page updated 2020-05-02
Handle: RePEc:eee:jocoma:v:12:y:2018:i:c:p:19-30