Valuation of salmon farming companies |
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Authors: | Bård Misund |
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Institution: | University of Stavanger Business School, Stavanger, Norway |
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Abstract: | Financial statement information is important for evaluating a firm’s performance, and for forecasting its future cash flows. This paper studies the relationship between financial accounting information and market valuation for publicly listed salmon farming companies. Of special interest is the impact on market valuation, of a requirement for salmon farmers to disclose the effect on their financial numbers of the fair-value adjustment of biomass. The results suggest that the fair-value adjustment results in higher volatility of profits, and lower value relevance for investors. |
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Keywords: | Atlantic salmon production valuation market capitalization value-relevance stock markets share prices profitability financial performance |
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