IDEAS home Printed from https://ideas.repec.org/a/ucp/mresec/doi10.1086-698447.html
   My bibliography  Save this article

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

Author

Listed:
  • Bård Misund
  • Rune Nygård

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.

Suggested Citation

  • Bård Misund & Rune Nygård, 2018. "Big Fish: Valuation of the World's Largest Salmon Farming Companies," Marine Resource Economics, University of Chicago Press, vol. 33(3), pages 245-261.
    • Handle: RePEc:ucp:mresec:doi:10.1086/698447
    DOI: 10.1086/698447
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.1086/698447
    Download Restriction: Access to the online full text or PDF requires a subscription.
    File URL: http://dx.doi.org/10.1086/698447
    Download Restriction: Access to the online full text or PDF requires a subscription.
    File URL: https://libkey.io/10.1086/698447?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Itemgenova, Aigerim & Sikveland, Marius, 2020. "The determinants of the price-earnings ratio in the Norwegian aquaculture industry," Journal of Commodity Markets, Elsevier, vol. 17(C).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ucp:mresec:doi:10.1086/698447. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Journals Division (email available below). General contact details of provider: https://www.journals.uchicago.edu/MRE .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.