Common and Fundamental Risk Factors in Shareholder Returns of Norwegian Salmon Producing Companies

Bård Misund

No 2016/17, UiS Working Papers in Economics and Finance from University of Stavanger

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 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2016-12-15
New Economics Papers: this item is included in nep-agr and nep-rmg
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Citations: View citations in EconPapers (1)

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Journal Article: Common and fundamental risk factors in shareholder returns of Norwegian salmon producing companies (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:stavef:2016_017

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