Big Fish: Valuation of the World's Largest Salmon Farming Companies

Bård Misund and Rune Nygård

Marine Resource Economics, 2018, vol. 33, issue 3, 245 - 261

Abstract: During the last six years, the salmon stock price index at the Oslo Stock Exchange has increased by nearly ten times. This article attempts to shed some light on the reasons why this substantial stock price appreciation has taken place. The primary aim is to ascertain if the market valuation of salmon farming companies can be explained by rational factors, or if there is an element of irrational exuberance behind the current all-time high salmon stock prices. In particular, we seek to uncover if a structural break has occurred in the market value formation of salmon stocks. The results suggest that a structural shift has occurred, leading to a stronger association between fundamentals and market valuations after 2012, indicating that at least some of the substantial stock price increase during 2012-2016 can be attributed to fundamental factors.

Date: 2018
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://dx.doi.org/10.1086/698447 (application/pdf)
http://dx.doi.org/10.1086/698447 (text/html)
Access to the online full text or PDF requires a subscription.

Related works:
Working Paper: "Big Fish": Valuation of the world's largest salmon farming companies (2017)
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:ucp:mresec:doi:10.1086/698447

Access Statistics for this article

More articles in Marine Resource Economics from University of Chicago Press
Bibliographic data for series maintained by Journals Division ().