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Bård Misund

Professor

Handelshøgskolen ved UiS

Avdeling for samfunnsøkonomi og finans
EOJ 230
Bio

Profile

Valuation and risk are the overriding themes for Misund’s research. He has published nearly 30 articles in peer-reviewed scientific journals, as well as numerous op-eds and letters to the editor, on topics such as valuation of energy and commodity companies, risk and risk management of commodities, and the pricing of complex projects and assets. One strand of research examines how firm’s market values are affected by financial and operational information reported by energy and commodity industry companies. Another line of research investigates the behavior of energy and commodity spot and futures prices, and how they impact companies’ market values and stock returns. Since commodity industries are characterized by a high level of risk, this work entails dynamic estimation of volatility, correlation and volatility spillovers, as well as identifying risk management strategies to deal with market risk (e.g. optimal hedging strategies). A third research area studies how investment strategies of commodity companies impact stock valuations. The fourth and final research thread deals with the taxation of commodity companies, and the impact of taxation on valuations.

 

Expertise

Bård has more than 15 years of industry experience from the energy sector, and from other commodities industries such as seafood. His areas of expertise include:

·Valuation of complex investment projects (incl. real options)

·Business and Equity valuation

·Financial Statement analysis

·Analysis of commodity price behaviour and risk

·Risk management (hedging) commodity price risk

·Taxation in commodity markets

 

Background

After completing his PhD in Industrial Economics at the University of Stavanger, Bård started as a Senior Economist in Equinor ASA (formerly Statoil ASA) working on the valuation of investment projects and long term sales contracts. He was promoted to a Leading Advisor after 2 years, and a Specialist (advisor) in Valuation after 4 years. His job was to advise analysts and management on valuation of complexities in project and business valuation, as well as energy derivatives and assets with embedded flexibility.

 

Prior to joining Equinor, Bård worked in other commodities industries (incl. seafood), building competence in asset valuation, financial analysis, financing, mergers and acquisition, and IPO's.

 

Teaching interests

·Valuation

·Financial Statement Analysis

·Derivatives and Risk Management

·Investments

 

Research areas

·Business and project valuation

·Value-relevance of oil and gas company financial information

·Market valuation of oil and gas companies

·Taxation in Commodities industries (resource rent taxation, petroleum taxation)

·Risk factors affecting the return on oil and gas companies stocks

·Commodity price behavior (cointegration, spot-forward relationship, price discovery, volatility modeling)

·Energy and commodity derivatives

 

Research groups

I belong to the following research groups:

1. UiS EREE – Research Group for Energy, Resource and Environmental Economics (UiS EREE)

2. UiS Energy Finance – Research Group for Energy Finance at the University of Stavanger Business School

3. Capital Market Research in Accounting

4. Finance Group at UiS Business School (UiS Finance)

 

Research funding

My research is funded by the Research Council of Norway (RCN) and Fiskeri- og havbruksnæringens Forskningsfinansiering (FHF). FHF is 100% owned by the Norwegian Ministry of Industry and Fisheries.

 

Keywords: Valuation, Finance, Financial Statement Analysis, Derivatives, Options, Futures, Forward Contracts, Real Options, Hedging, Risk Management, Gas Storage, Swing Options, Tolling Agreements, Oil and Gas, Atlantic Salmon, Salmon Farming, Commodity Markets, Oil Prices, Gas Prices, Electricity Prices, Salmon Prices, Aquaculture, Volatility, Correlation, Cointegration, Risk Premium, Convenience Yield, GARCH.

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Publications
  • Vitenskapelige publikasjoner
    • Asche, Frank; Misund, Bård; Tveterås, Ragnar

      (2020)

      Determinants of variation in aquaculture profits.

      Social Science Research Network (SSRN)

      ISSN 1556-5068.

    • Tveterås, Ragnar; Misund, Bård

      (2020)

      Sustainable growth, resource rent and taxes in aquaculture.

      Social Science Research Network (SSRN)

      ISSN 1556-5068.

    • Misund, Bård; Osmundsen, Petter

      (2019)

      Oil and gas investments: effect of oil price fluctuations.

      IAEE International Conference

      ISSN 1559-792X.

    • Misund, Bård

      (2018)

      Volatilitet i laksemarkedet.

      Samfunnsøkonomen

      ISSN 1890-5250.

      Volum 132.

      Hefte 2.

      s.41-54.

    • Misund, Bård

      (2018)

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

      Journal of Commodity Markets

      ISSN 2405-8513.

      Volum 12.

      s.19-30.

      DOI: 10.1016/j.jcomm.2017.12.007

    • Misund, Bård

      (2018)

      Exploration vs. acquisition of oil and gas reserves: Effect on stock returns.

      Cogent Economics & Finance

      ISSN 2332-2039.

      Volum 6.

      Hefte 1.

      s.1-18.

      DOI: 10.1080/23322039.2018.1443368

    • Misund, Bård

      (2018)

      Volatility Spillovers In The UK Natural Gas Market.

      IAEE International Conference

      ISSN 1559-792X.

    • Asche, Frank; Misund, Bård; Oglend, Atle

      (2018)

      The case and cause of salmon price volatility.

      Marine Resource Economics

      ISSN 0738-1360.

      Volum 34.

      Hefte 1.

      s.23-38.

      DOI: 10.1086/701195

    • Misund, Bård; Sikveland, Marius

      (2018)

      Takeover likelihood in the oil and gas industry: firm-specific, macroeconomic or industry-specific causes?.

      Journal of Energy Markets

      ISSN 1756-3607.

      Volum 11.

      Hefte 1.

      s.1-19.

      DOI: 10.21314/JEM.2018.170

    • Misund, Bård; Nygård, Rune

      (2018)

      Big Fish: The valuation of the world's largest salmon farming companies.

      Marine Resource Economics

      ISSN 0738-1360.

      Volum 33.

      Hefte 3.

      s.245-261.

      DOI: 10.1086/698447

    • Misund, Bård; Mohn, Klaus; Sikveland, Marius

      (2017)

      Exploration risk in international oil and gas shareholder returns.

      Journal of Energy Markets

      ISSN 1756-3607.

      Volum 10.

      Hefte 4.

      s.1-22.

      DOI: 10.21314/JEM.2017.167

    • Misund, Bård

      (2017)

      Accounting Method Choice and Market Valuation in the Extractive Industries.

      Cogent Economics & Finance

      ISSN 2332-2039.

      Volum 5.

      Hefte 1.

      s.1-14.

      DOI: 10.1080/23322039.2017.1408944

    • Misund, Bård

      (2017)

      Reserves Replacement and Oil and Gas Company Shareholder Returns.

      IAEE International Conference

      ISSN 1559-792X.

      DOI: 10.21314/jem.2017.167

    • Misund, Bård; Øglend, Atle; Pincinato, Ruth Beatriz

      (2017)

      The Rise of Fish Oil: from Feed to Human Nutritional Supplement.

      Aquaculture Economics & Management

      ISSN 1365-7305.

      Volum 21.

      Hefte 2.

      s.185-210.

      DOI: 10.1080/13657305.2017.1284942

    • Misund, Bård

      (2017)

      Financial ratios and prediction on corporate bankruptcy in the Atlantic salmon industry.

      Aquaculture Economics & Management

      ISSN 1365-7305.

      Volum 21.

      Hefte 2.

      s.241-260.

      DOI: 10.1080/13657305.2016.1180646

    • Misund, Bård; Osmundsen, Petter

      (2017)

      Valuation of proved vs. probable oil and gas reserves.

      Cogent Economics & Finance

      ISSN 2332-2039.

      Volum 5.

      Hefte 1.

      DOI: 10.1080/23322039.2017.1385443

    • Misund, Bård; Osmundsen, Petter

      (2016)

      Probable Oil & Gas Reserves: Effect on Returns.

      IAEE International Conference

      ISSN 1559-792X.

    • Asche, Frank; Misund, Bård; Øglend, Atle

      (2016)

      The Spot-Forward Relationship in the Atlantic Salmon Market.

      Aquaculture Economics & Management

      ISSN 1365-7305.

      Volum 20.

      Hefte 2.

      s.222-234.

      DOI: 10.1080/13657305.2016.1156192

    • Misund, Bård

      (2016)

      Valuation of salmon farming companies.

      Aquaculture Economics & Management

      ISSN 1365-7305.

      Volum 22.

      Hefte 1.

      s.94-111.

      DOI: 10.1080/13657305.2016.1228712

    • Asche, Frank; Misund, Bård

      (2016)

      Who's a major? A novel approach to peer group selection: Empirical evidence from oil and gas companies.

      Cogent Economics & Finance

      ISSN 2332-2039.

      Volum 4.

      DOI: 10.1080/23322039.2016.1264538

    • Asche, Frank; Misund, Bård; Øglend, Atle

      (2016)

      Determinants of the Atlantic salmon futures risk premium.

      Journal of Commodity Markets

      ISSN 2405-8513.

      Volum 2.

      Hefte 1.

      s.6-17.

      DOI: 10.1016/j.jcomm.2016.07.001

    • Misund, Bård

      (2016)

      Vertical integration and value-relevance: Empirical evidence from oil and gas producers.

      Cogent Economics & Finance

      ISSN 2332-2039.

      Volum 4:1264107.

      DOI: 10.1080/23322039.2016.1264107

    • Misund, Bård

      (2016)

      Verdirelevansen av å rapportere biologiske eiendeler til virkelig verdi. En studie av norske lakseoppdrettselskaper.

      Praktisk økonomi & finans

      ISSN 1501-0074.

      Volum 32 [i.e. 33].

      Hefte 4.

      s.437-451.

      DOI: 10.18261/issn.1504-2871-2016-04-12

    • Misund, Bård; Øglend, Atle

      (2016)

      Supply and demand determinants of natural gas price volatility in the U.K.: A vector autoregression approach.

      Energy

      ISSN 0360-5442.

      Volum 111.

      Hefte September.

      s.178-189.

      DOI: 10.1016/j.energy.2016.05.124

    • Misund, Bård; Asche, Frank

      (2016)

      Hedging efficiency of Atlantic salmon futures.

      Aquaculture Economics & Management

      ISSN 1365-7305.

      Volum 20.

      Hefte 4.

      s.368-381.

      DOI: 10.1080/13657305.2016.1212123

    • Misund, Bård; Osmundsen, Petter; Sikveland, Marius

      (2015)

      International oil company valuation: the effect of accounting method and vertical integration.

      Petroleum Accounting and Financial Management

      ISSN 1554-2904.

      Volum 34.

      Hefte 1.

      s.1-20.

    • Misund, Bård; Øglend, Atle

      (2015)

      The Effect of Supply and Demand Shocks on the U.K. Natural Gas Price Volatility.

      IAEE International Conference

      ISSN 1559-792X.

      DOI: 10.1016/j.energy.2016.05.124

    • Misund, Bård; Osmundsen, Petter

      (2015)

      The value-relevance of accounting figures in the oil & gas industry: cash flow or accruals?.

      Petroleum Accounting and Financial Management

      ISSN 1554-2904.

      Volum 34.

      Hefte 2.

      s.90-110.

    • Misund, Bård; Osmundsen, Petter; Sikveland, Marius

      (2014)

      VERTICAL INTEGRATION AND VALUATION OF INTERNATIONAL OIL COMPANIES.

      IAEE International Conference

      ISSN 1559-792X.

      DOI: 10.2139/ssrn.2508478

    • Asche, Frank; Misund, Bård; Sikveland, Marius

      (2013)

      The relationship between spot and contract gas prices in Europe.

      Energy Economics

      ISSN 0140-9883.

      Volum 38.

      s.212-217.

      DOI: 10.1016/j.eneco.2013.02.010

    • Mohn, Klaus; Misund, Bård

      (2011)

      Shifting sentiments in firm investment: an application to the oil industry.

      Applied Financial Economics

      ISSN 0960-3107.

      Volum 21.

      Hefte 7.

      DOI: 10.1080/09603107.2010.534060

    • Mohn, Klaus; Misund, Bård

      (2009)

      Investment and uncertainty in the international oil and gas industry.

      Energy Economics

      ISSN 0140-9883.

      Volum 31.

      Hefte 2.

      s.240-248.

      DOI: 10.1016/j.eneco.2008.10.001

    • Misund, Bård; Asche, Frank; Osmundsen, Petter

      (2008)

      Industry Upheaval and Valuation: Empirical Evidence from the International Oil and Gas Industry.

      International Journal of Accounting

      ISSN 0020-7063.

      Volum 43.

      Hefte 4.

      s.398-424.

      DOI: 10.1016/j.intacc.2008.09.007

    • Kretzschmar, G.L.; Misund, Bård; Hatherly, D.

      (2007)

      Market risks and oilfield ownership - Refining oil and gas disclosures.

      Energy Policy

      ISSN 0301-4215.

      Volum 35.

      s.5909-5917.

    • Asche, Frank; Misund, Bård

      (2007)

      Value relevance and peer group selection.

      IAEE International Conference

      ISSN 1559-792X.

    • Mohn, Klaus; Misund, Bård

      (2007)

      Investment and Uncertainty in the International Oil and Gas Industry.

      IAEE International Conference

      ISSN 1559-792X.

    • Osmundsen, Petter; Mohn, Klaus; Asche, Frank; Misund, Bård

      (2007)

      Is oil supply choked by financial market pressures?.

      Energy Policy

      ISSN 0301-4215.

      Volum 35.

      Hefte 1.

      s.467-474.

    • Misund, Bård; Osmundsen, Petter; Asche, Frank

      (2006)

      The Pricing of International Oil and Gas Companies 1990-2003 - A Structural Shift in the Equity Valuation P.

      IAEE International Conference

      ISSN 1559-792X.

    • Osmundsen, Petter; Asche, Frank; Misund, Bård; Mohn, Klaus

      (2006)

      Valuation of international oil companies.

      Energy Journal

      ISSN 0195-6574.

      Volum 27.

      s.49-64.

    • Osmundsen, Petter; Asche, Frank; Misund, Bård; Mohn, Klaus

      (2005)

      High oil prices, a non-OPEC capacity game.

      IAEE International Conference

      ISSN 1559-792X.

    • Misund, Bård; Osmundsen, Petter; Asche, Frank

      (2005)

      The Value-Relevance of Accounting Figures in the International Oil and Gas Industry - Cash flows or Accruals?.

      IAEE International Conference

      ISSN 1559-792X.

  • Bøker og kapitler
    • Misund, Bård; Osmundsen, Petter; Tveterås, Ragnar; Folkvord, Benn; Nystøyl, Ragnar; Rolland, Knut Henrik

      (2020)

      Grunnrenteskatt - Et kunnskapsgrunnlag. Sluttrapport..

      Universitetet i Stavanger

      ISBN 978-82-7644-902-0.

    • Robertsen, Roy; Mikkelsen, Eirik Inge; Karlsen, Kine Mari; Solås, Ann-Magnhild; Hersoug, Bjørn; Tveterås, Ragnar; Misund, Bård; Dahl, Irene Vanja; Osmundsen, Tonje Cecilie; Sørgård, Bjørn

      (2020)

      Havbruksforvaltning mot 2030 – faglig sluttrapport.

      ISBN 978-82-8296-663-4.

      Hefte 46/2020.

    • Asche, Frank; Misund, Bård; Tveterås, Ragnar

      (2020)

      Rents in Norwegian Fisheries.

      ISBN 978-82-8408-130-4.

    • Asche, Frank; Misund, Bård; Tveterås, Ragnar

      (2020)

      Rents and profits in Norwegian Aquaculture.

      ISBN 978-82-8408-131-1.

      Volum 39.

      Hefte 2020.

    • Tveterås, Ragnar; Misund, Bård; Roche Aponte, Fabian; Pincinato, Ruth Beatriz

      (2020)

      Regulation of salmon aquaculture towards 2030: Incentives, economic performance and sustainability.

      ISBN 978-82-8408-118-2.

      Volum 2020.

      Hefte 24.

    • Tveterås, Ragnar; Hovland, Mads; Reve, Torger; Misund, Bård; Nystøyl, Ragnar; Bjelland, Hans Vanhauwaert; Misund, Andreas Ugelvik; Fjelldal, Øystein Martin

      (2020)

      Verdiskapingspotensiale og veikart for havbruk til havs: Hovedrapport.

    • Tveterås, Ragnar; Hovland, Mads; Reve, Torger; Misund, Bård; Nystøyl, Ragnar; Bjelland, Hans Vanhauwaert; Misund, Andreas Ugelvik; Fjelldal, Øystein Martin

      (2020)

      Verdiskapingspotensiale og veikart for havbruk til havs: Kort rapport.

    • Blomgren, Atle; Fjelldal, Øystein Martin; Tveterås, Ragnar; Misund, Bård; Quale, Christian; Kårtveit, Bård

      (2019)

      Kartlegging av investeringer i fiskeri og fangst, akvakultur og fiskeindustri, 1970 – 2019.

    • Blomgren, Atle; Fjelldal, Øystein Martin; Misund, Bård; Tveterås, Ragnar; Kårtveit, Bård; Quale, Christian

      (2019)

      Kartlegging av investeringer gjort av fiskeflåten, havbruksnæringen og fiskeindustrien, 1970-2019.

      ISBN 978-82-8408-024-6.

    • Misund, Bård; Martens, Søren; Nyrud, Thomas; Dreyer, Bent

      (2018)

      A contract market in the first-hand trade of wild-caught fish.

      ISBN 978-82-8296-543-9.

      Hefte 9/2018.

    • Kårbø, Tom Erling; Misund, Bård

      (2016)

      An empirical study of the spot-forward relationship and the hedging efficiency of the Atlantic salmon market.

      Universitetet i Stavanger

    • Lade, Ragne Myrhol; Misund, Bård

      (2016)

      Market Efficiency in the Crude Oil Futures Market - an Empirical Study after the Shale Oil Revolution.

      Universitetet i Stavanger

    • Bjerklund, Simen; Helland, Fredrik; Misund, Bård

      (2016)

      Currency hedging in the Norwegian seafood industry.

      Universitetet i Stavanger

    • Mæland, Rune Hopsdal; Skimmeland, Eirik Wathne; Misund, Bård

      (2016)

      Verdsettelse av Bakkafrost ASA.

      Universitetet i Stavanger

    • Carr, Jan Egil; Halaas, Per Haakon; Misund, Bård

      (2016)

      Verdsettelse av Lerøy Seafood Group ASA.

      Universitetet i Stavanger

    • Aslam, Atif Mahmood; Faizullah, Parwize; Misund, Bård

      (2015)

      Value relevance of oil and gas producers and oil service companies in Norway.

      Universitetet i Stavanger

    • Hansen, Thor Alexander Landa; Sørholt, Jon Magne; Misund, Bård

      (2015)

      The effects of weather and storage shocks on the natural gas price in the U.K..

      Universitetet i Stavanger

    • Keretsman, Olena; Misund, Bård

      (2015)

      An empirical study of the spot-forward relationship for natural gas and crude oil markets.

      Universitetet i Stavanger

    • Misund, Bård; Nguyen, Tony

      (2014)

      Risk management of bunker oil price fluctuations using forward and futures.

      Universitetet i Stavanger

    • Alsvik, Øyvind; Strand, Kari Barkved; Misund, Bård

      (2014)

      The spot-forward relationship in gas markets - an empirical study of the Title Transfer Facility and Zeebrugge Hub prices.

      Universitetet i Stavanger

    • Misund, Bård; Tjentland, Tore Sæbø

      (2014)

      Financial risk management in the aluminium industry.

      Universitetet i Stavanger

    • Helgerud, Ane; Misund, Bård

      (2012)

      An analysis of structured products before and after the implementation of the MiFID directive.

      Universitetet i Stavanger

    • Fjermestad, Anders; Misund, Bård

      (2012)

      The perfect hedge and how to account for it - the swap from IAS 39 to IFRS 9.

      Universitetet i Stavanger

    • Anundsen, Kjetil; Misund, Bård

      (2012)

      An analysis of Competentia's foreign currency exposure and potential strategies.

      Universitetet i Stavanger

    • Ims, Lucas Alexander; Misund, Bård

      (2011)

      Initial Public Offerings and subsequent stabilization.

      Universitetet i Stavanger

    • Søvik, Lene; Sømme, Tore; Misund, Bård

      (2011)

      Fundamental analysis and valuation of Renewable Energy Corporation ASA.

      Universitetet i Stavanger

    • Voll, Christer; Huseby, Tom-Andre; Misund, Bård

      (2011)

      Valuation of Seadrill Limited - Is there a John Fredriksen premium in the stock market?.

      Universitetet i Stavanger

    • Setane, Hanne; Misund, Bård; Haukås, Harald

      (2010)

      Risk and performance measurement of stock portfolios - gain-loss versus mean-variance.

      Universitetet i Stavanger

    • Arvesen, Espen; Lien, Ada Klever; Misund, Bård

      (2010)

      Performance evaluation of ethical mutual funds - a comparis between ethical and conventional mutual funds marketed and sold in Norway.

      Universitetet i Stavanger

    • Rugland, Ole Kristian; Olsen, Idar; Misund, Bård

      (2010)

      Currency exposure of Skanem AS.

      Universitetet i Stavanger

    • Prytz, Ida Texmo; Misund, Bård

      (2009)

      Valuation of oil and gas companies: The value relevance of oil and gas reserves, PSA vs concession agreements.

      Universitetet i Stavanger

    • OPOFTE, Sonja; Misund, Bård

      (2009)

      Measuring and evaluating financial risk exposure for energy companies.

      Universitetet i Stavanger

    • Tørneng, Ingvild Fatnes; Misund, Bård

      (2009)

      A comparison of three different price assessments on gasoil - Platts, Argus and ICE.

      Universitetet i Stavanger

    • Haaland, Venke Furre; Kommedal, Bente; Misund, Bård

      (2009)

      Does hedging currency exposure affect company valuation? An empirical analysis of Norwegian export companies.

      Universitetet i Stavanger

    • Jimenez, Agustin F.; Misund, Bård

      (2009)

      A study of performance - for Norwegian equity funds for the period 2001-2008.

      Universitetet i Stavanger

    • Misund, Bård; Svensen-Sandberg, Vanja A.

      (2009)

      Probable oil and gas reserves: Do they influence oil companies' market value.

      Universitetet i Stavanger

    • Rorgemoen, Tone Skolås; Misund, Bård

      (2009)

      To buy or to be bought, that is the question: An empirical analysis of merger and acquisition activity in the oil and gas sector.

      Universitetet i Stavanger

    • Ydstebø, Linda; Misund, Bård

      (2008)

      The impact of deregulation in energy markets on the spark spread.

      Universitetet i Stavanger

    • Braut, Helene Ottesen; Misund, Bård

      (2008)

      Valuation: purchasing strategy based on companies' fundamental value.

      Universitetet i Stavanger

    • Olsen, Arild Neraas; Misund, Bård

      (2008)

      Valuation and uncertainty - a real options analysis: A better alternative of a supplement to traditional valuation methods?.

      Universitetet i Stavanger

    • Kangas, Riku; Misund, Bård

      (2008)

      Valuation of Sevan Marine ASA: What is the fair value of the Sevan Marine ASA stock?.

      Universitetet i Stavanger

    • Falkgjerdet, Ellinor; Misund, Bård

      (2008)

      Does hedging increase firm value? Evidence from the shipping industry.

      Universitetet i Stavanger

    • Rønneberg, Kathrine; Misund, Bård

      (2008)

      Comparison of three different methods for estimating Value at Risk.

      Universitetet i Stavanger

    • Sevheim, Kjetil; Misund, Bård

      (2008)

      Risk management in the shipping industry: Comparison of freight rates and commodity prices.

      Universitetet i Stavanger

    • Misund, Bård; Osmundsen, Petter; Asche, Frank

      (2007)

      Valuation of oil and gas companies.

      Universitetet i Stavanger

      ISBN 978-82-7644-324-0.

    • Misund, Bård; Lillestøl, Jostein Kåre

      (2004)

      Kredittrisiko i oppdrett.

    • Osmundsen, Petter; Asche, Frank; Misund, Bård; Mohn, Klaus

      (2004)

      Valuation and Investment Behaviour in the Petroleum Industry.

      Hefte 142.

    • Poléo, Antonio B.S.; Voie, Øyvind Albert; Misund, Bård; Bjørnstad, Helge E; Johnsen, Arnt Magne

      (1997)

      Miljøgifter - Kilder, biotilgjengelighet og toksiske effekter.

      ISBN 82-464-0180-7.

    • Misund, Bård; Jobling, Malcolm; Taranger, Geir Lasse

      (1996)

      Effekter av sulting, intervallforing og lysmanipulering på slaktekvalitet hos atlantisk laks Salmo Salar L.

  • Formidling
    • Misund, Bård

      (2020)

      De tre bokstavene skremmer vannet av næringsaktører og finansinstitusjoner i alle land som oppdretter laks.

    • Misund, Bård

      (2020)

      Elevane på akvakulturlinja syter for millioninntekter til skulen.

    • Misund, Bård

      (2020)

      Dette var de 10 mest leste sakene til IntraFish i 2020.

    • Tveterås, Ragnar; Guttormsen, Atle; Misund, Bård

      (2020)

      Kan regulere oss ut av krisen.

      Dagens næringsliv

      ISSN 0803-9372.

      Volum 131.

      Hefte 111.

      s.37-37.

    • Misund, Bård; Tveterås, Ragnar

      (2020)

      Balansert forslag om lakseskatt.

      Fiskeribladet

      ISSN 0805-5289.

      Volum 13.

    • Robertsen, Roy; Hersoug, Bjørn; Karlsen, Kine Mari; Mikkelsen, Eirik Inge; Misund, Bård; Osmundsen, Tonje Cecilie; Solås, Ann-Magnhild; Sørgård, Bjørn; Dahl, Irene Vanja; Tveterås, Ragnar

      (2020)

      Hvem skal bestemme hva? Havbruksforvaltning 2030.

    • Misund, Bård; Tveterås, Ragnar

      (2020)

      Endringer i oljeskatten kan dempe fallet.

      Stavanger Aftenblad

      ISSN 0804-8991.

      DOI: www.aftenbladet.no/meninger/debatt/i/dOX9Wq/endringer-i-oljeskatten-kan-dempe-falle

    • Misund, Bård

      (2020)

      Sustainable growth, government policies and taxes in aquaculture.

    • Misund, Bård; Tveterås, Ragnar

      (2020)

      Balansert forslag om lakseskatt.

      IntraFish Media AS

      DOI: www.intrafish.no/kommentarer/balansert-forslag-om-lakseskatt/2-1-813148

    • Misund, Bård; Guttormsen, Atle; Tveterås, Ragnar

      (2020)

      Finansteori kan forklare hvorfor de største oppdrettsselskapene tidvis betaler høye utbytter.

      IntraFish Media AS

      DOI: www.intrafish.no/kommentarer/finansteori-kan-forklare-hvorfor-de-storste-oppdrettsselskapene-tidvis-betaler-hoye-utbytter/2-1-822520

    • Tveterås, Ragnar; Misund, Bård

      (2020)

      Gavepakke til laksemilliardærer eller leverandørindustrien?.

      Stavanger Aftenblad

      ISSN 0804-8991.

      DOI: www.aftenbladet.no/meninger/debatt/i/b5V1g5/gavepakke-til-laksemilliardrer-eller-leverandrindustrien

    • Tveterås, Ragnar; Guttormsen, Atle; Misund, Bård

      (2020)

      Bærekraft handler om avveininger.

      Dagens næringsliv

      ISSN 0803-9372.

      DOI: www.dn.no/innlegg/innlegg-barekraft-handler-om-avveininger/2-1-814465

    • Misund, Bård

      (2019)

      Om å skite i eget reir.

      Vesteraalens Avis

    • Misund, Bård

      (2019)

      Misvisende om investeringer i havbruk.

      nordnorskdebatt.no

    • Misund, Bård

      (2019)

      Misvisende om investeringer i havbruk - Nationen.

      Nationen

      ISSN 0805-3782.

    • Misund, Bård

      (2019)

      - Misvisende om investeringer i havbruk fra Ørebech.

      Fiskeribladet

      ISSN 0805-5289.

    • Misund, Bård

      (2019)

      Reflekterer forwardkurven til Fish Pool markedets forventninger om lakseprisen?.

      iLaks.no

    • Misund, Bård

      (2019)

      Fiskebæsj-skam.

      Dagbladet

      ISSN 0805-3766.

    • Misund, Bård

      (2019)

      Lakseskatt - konsekvenser for investeringer.

    • Misund, Bård

      (2019)

      Fiskeoppdrettere kan få høyere skatt.

      Stavanger Aftenblad

      ISSN 0804-8991.

    • Misund, Bård; Tveterås, Ragnar; Blomgren, Atle; Fjelldal, Øystein Martin; Quale, Christian

      (2019)

      Betydelige investeringer i utviklingstillatelser.

      Norsk Fiskeoppdrett

      ISSN 0332-7132.

      Volum 8.

      s.144-147.

    • Blomgren, Atle; Fjelldal, Øystein Martin; Misund, Bård; Quale, Christian; Tveterås, Ragnar

      (2019)

      Store investeringer i havbruksnæringen.

      Norsk Fiskeoppdrett

      ISSN 0332-7132.

      Volum 8.

      s.148-153.

    • Misund, Bård

      (2019)

      Er lukkede anlegg fremtiden for bærekraftig havbruk?.

    • Misund, Bård

      (2019)

      Særskatt i havbruksnæringen: Det er bare tiden og veien igjen.

      iLaks.no

    • Misund, Bård

      (2019)

      Tror ikke næringen kunne forhindret en periodisert grunnrenteskatt.

      iLaks.no

    • Misund, B�rd

      (2019)

      https://www.intrafish.no/nyheter/1707327/eu-aksjon-kan-vaere-utlost-av-rykter.

      IntraFish Media AS

    • Misund, Bård

      (2019)

      Usikker fremtid for lakseoppdrett i Norge.

      IntraFish Media AS

    • Misund, Bård; Osmundsen, Petter; Tveterås, Ragnar

      (2019)

      Støtter særskatt på havbruk.

      Fiskeribladet

      ISSN 0805-5289.

    • Misund, Bård

      (2019)

      Fremtidens sjømatnæring - bærekraftig vekst eller stagnasjon?.

      Fiskeribladet

      ISSN 0805-5289.

    • Tveterås, Ragnar; Misund, Bård

      (2019)

      Høyere kostnader på land enn vellykket drift i sjø.

      Kyst.no

    • Tveterås, Ragnar; Misund, Bård; Osmundsen, Petter; Folkvord, Benn

      (2019)

      Framtidens skatteregime for havbruksnæringen.

    • Tveterås, Ragnar; Misund, Bård

      (2019)

      Bærekraftig vekst for flere.

      Norsk Fiskeoppdrett

      ISSN 0332-7132.

      Volum 44.

      Hefte 1.

      s.50-53.

    • Tveterås, Ragnar; Misund, Bård; Osmundsen, Petter; Folkvord, Benn

      (2019)

      Mulige konsekvenser ved innføring av særskatt på havbruk.

    • Tveterås, Ragnar; Misund, Bård

      (2019)

      Sustainable growth, resource rent and taxes in aquaculture.

    • Misund, Bård

      (2018)

      Reviewer assignment Journal of Commodity Markets (3).

    • Misund, Bård

      (2018)

      Dette bestemmer avkastningen til de børsnoterte lakseselskapene.

      Kyst.no

    • Misund, Bård

      (2018)

      Universitetet og havet.

      Stavanger Aftenblad

      ISSN 0804-8991.

    • Misund, Bård

      (2018)

      Lukkede anlegg har fortsatt en vei å gå.

      Stavanger Aftenblad

      ISSN 0804-8991.

    • Nyrud, Thomas; Dreyer, Bent; Misund, Bård

      (2018)

      Kontraktsmarked i førstehåndsomsetningen av villfisk – Muligheter og barrierer.

    • Misund, Bård

      (2018)

      Ønsker Naturvernforbundet å avvikle næringen?.

      Stavanger Aftenblad

      ISSN 0804-8991.

    • Nyrud, Thomas; Dreyer, Bent; Misund, Bård

      (2018)

      Establishing future contracts in the Norwegian fish trade.

    • Misund, Bård

      (2018)

      Reviewer report Aquaculture Economics & management (2).

    • Misund, Bård

      (2018)

      Nye markeder med fiskesalg på kontrakt?.

    • Misund, Bård

      (2018)

      Er lukkede oppdrettsanlegg svaret på miljøproblemer og fiskevelferd, og hva med lønnsomheten?.

      Stavanger Aftenblad

      ISSN 0804-8991.

    • Misund, Bård

      (2018)

      Lite gjennomtenkt av MDG.

      iLaks.no

    • Misund, Bård

      (2018)

      Hvis en mener det er en grunnrente i oppdrett av laks, er nok denne måten å innhente den på en veldig effektiv måte.

      iLaks.no

    • Misund, Bård; Tveterås, Ragnar

      (2018)

      Professor om grunnrentebeskatning: – For høy skatt kan presse næringen over på landbasert oppdrett eller mot andre land.

    • Misund, Bård

      (2018)

      Havbruksnæringen står overfor noen sentrale veivalg.

      Sysla

    • Misund, Bård; Tveterås, Ragnar

      (2018)

      DN mener: Når all avkastning av felles naturressurser havner i private lommer, er det noe som er galt.

    • Misund, Bård

      (2018)

      Lovundlaks satser halv milliard på videre vekst: – Vi må tørre å satse.

      Dagens næringsliv

      ISSN 0803-9372.

    • Misund, Bård; Tveterås, Ragnar

      (2018)

      Tror skatt på oppdrett kan føre til utflagging.

    • Misund, Bård

      (2018)

      Empiriske analyser av førstehåndsomsetningen av fisk.

    • Misund, Bård; Tveterås, Ragnar

      (2018)

      Skatt og miljøkrav kan kvele havbruket.

      Dagens næringsliv

      ISSN 0803-9372.

    • Misund, Bård

      (2018)

      Volatility Spillovers In The UK Natural Gas Market.

    • Misund, Bård

      (2018)

      Reviewer report Energy (3).

    • Misund, Bård; Tveterås, Ragnar

      (2018)

      En høyt skattet laks.

      Dagens næringsliv

      ISSN 0803-9372.

    • Misund, Bård

      (2018)

      Reviewer report (Aquaculture Economics & Management).

    • Misund, Bård; Osmundsen, Petter

      (2018)

      The rollercoaster ride of oil and gas investments.

    • Misund, Bård; Tveterås, Ragnar

      (2018)

      En høyt skattet laks.

      IntraFish Media AS

    • Misund, Bård; Tveterås, Ragnar

      (2018)

      To tax or not to tax, that is the question.

      iLaks.no

    • Nygård, Rune; Misund, Bård

      (2018)

      Big Fish: Valuation of the world's largest salmon farming companies.

    • Misund, Bård

      (2018)

      Hvordan påvirker grunnrenteeskatningen oppdrettsnæringens vekstutsikter?.

    • Misund, Bård

      (2018)

      Advarer om skummel laksepris.

      Dagens næringsliv

      ISSN 0803-9372.

    • Misund, Bård; Tveterås, Ragnar

      (2018)

      Lusevarsling – grunnlaget for neste generasjon lusebekjempelse.

      iLaks.no

    • Asche, Frank; Misund, Bård; Oglend, Atle

      (2018)

      Varsko her! Sykliske priser!.

      Kyst.no

    • Misund, Bård; Tveterås, Ragnar

      (2018)

      Er lukkede anlegg det eneste alternativet for Tromsø?.

      nordnorskdebatt.no

    • Asche, Frank; Misund, Bård; Oglend, Atle

      (2018)

      Varsko her!.

      Norsk Fiskeoppdrett

      ISSN 0332-7132.

      Volum 5.

      s.8-9.

    • Tveterås, Ragnar; Misund, Bård; Fitjar, Rune Dahl

      (2018)

      Urban skattejakt kan utarme distriktene.

      Dagens næringsliv

      ISSN 0803-9372.

    • Misund, Bård

      (2018)

      Reviewer report Energy Journal (5).

    • Misund, Bård

      (2018)

      Reviewer assignment Marine Resource Economics (2).

    • Misund, Bård

      (2018)

      Reviewer assignment Energy Policy (3).

    • Misund, Bård

      (2017)

      Reserves Replacement and Oil and Gas Company Shareholder Returns.

    • Misund, Bård

      (2017)

      Reviewer report Aquaculture Econonomics & Management.

    • Misund, Bård

      (2017)

      Langsiktige kontrakter i råvaremarkeder.

    • Misund, Bård

      (2017)

      Volatility spillover in salmon aquaculture markets.

    • Misund, Bård

      (2017)

      Evaluation of oil & gas firms’ financial performance: cash flows vs. accounting earnings.

    • Misund, Bård

      (2017)

      Fish Pool-priser - fantasi eller virkelighet?.

      iLaks.no

    • Misund, Bård

      (2017)

      Reviewer report Energy Journal.

    • Misund, Bård

      (2017)

      Review report for Energy.

    • Misund, Bård

      (2017)

      Reviewer report Journal of Commodity Markets.

    • Misund, Bård

      (2017)

      Reviewer report Energy Journal (2).

    • Misund, Bård

      (2017)

      Reviewer report Journal of Commodity Markets (2).

    • Misund, Bård

      (2017)

      Hva er verdien på en konsesjon?.

      IntraFish Media AS

    • Misund, Bård

      (2017)

      The Value- Relevance of Accounting Data: Cash flows vs Earnings.

    • Misund, Bård

      (2017)

      Arealavgift til besvær?.

      iLaks.no

    • Misund, Bård

      (2017)

      Reviewer report Energy.

    • Misund, Bård; Tveterås, Ragnar; Asche, Frank

      (2017)

      Hvem tar risikoen?.

      iLaks.no

    • Misund, Bård; Oglend, Atle

      (2017)

      Ikke glem volatiliteten.

    • Misund, Bård; Oglend, Atle

      (2017)

      Achtung! Achtung!.

      IntraFish Media AS

    • Misund, Bård; Tveterås, Ragnar

      (2017)

      Ressursrente i lakseoppdrett?.

      Dagens næringsliv

      ISSN 0803-9372.

      s.34-34.

    • Misund, Bård

      (2017)

      Reviewer report Marine Resource Economics.

    • Misund, Bård

      (2017)

      Reviewer report Journal of Banking and Finance.

    • Misund, Bård

      (2017)

      Suksesskriterier for kontraktsmarkeder.

    • Misund, Bård; Nygård, Rune

      (2017)

      «Big Fish»: Valuation of the world’s largest salmon farming companies.

      UiS Working Papers in Economics and Finance

      Volum 11.

    • Misund, Bård

      (2016)

      Oppdrett og omdømme.

      iLaks.no

    • Misund, Bård

      (2016)

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

      UiS Working Papers in Economics and Finance

      Volum 2016.

      Hefte 17.

    • Asche, Frank; Misund, Bård; Øglend, Atle

      (2016)

      Fish Pool priser - Hva forteller de oss fremtidige laksepriser?.

      Norsk Fiskeoppdrett

      ISSN 0332-7132.

      Volum 2016.

      Hefte 8.

      s.74-77.

    • Misund, Bård

      (2016)

      Determinants of Fish Pool futures convenience yield.

    • Misund, Bård

      (2016)

      Reviewer assignment Aquaculture Economics & Management.

    • Misund, Bård; Osmundsen, Petter

      (2016)

      Probable Oil & Gas Reserves: Effect on Returns.

    • Misund, Bård

      (2016)

      Reviewer assignment COGENT Social Sciences.

    • Misund, Bård

      (2016)

      Reviewer assignment COGENT Business and Management.

    • Misund, Bård

      (2016)

      Reviewer assignment COGENT Economics and Finance.

    • Misund, Bård

      (2016)

      Reviewer assignment Energy Economics.

    • Misund, Bård; Asche, Frank

      (2015)

      Who's a major? A novel approach to peer group selection: Empirical evidence from oil and gas companies.

      UiS Working Papers in Economics and Finance

    • Misund, Bård

      (2015)

      Reviewer assignment The Energy Journal.

    • Misund, Bård

      (2015)

      Reserves Replacement and Oil and Gas Company Shareholder returns.

      UiS Working Papers in Economics and Finance

    • Misund, Bård

      (2015)

      Reviewer assignment Energy Economics.

    • Misund, Bård

      (2015)

      Financial Ratios and Prediction on Corporate Bankruptcy in the Atlantic Salmon Industry.

      UiS Working Papers in Economics and Finance

    • Misund, Bård; Øglend, Atle

      (2015)

      Supply and Demand Determinants of Natural Gas Price Volatility in the U.K.: A Vector Autoregression Approach.

      UiS Working Papers in Economics and Finance

    • Asche, Frank; Misund, Bård; Øglend, Atle

      (2015)

      The Spot-Forward Relationship in the Atlantic Salmon Market.

      UiS Working Papers in Economics and Finance

    • Asche, Frank; Misund, Bård; Øglend, Atle

      (2015)

      Production Risk and the Futures Price Risk Premium?.

      UiS Working Papers in Economics and Finance

    • Asche, Frank; Misund, Bård; Øglend, Atle

      (2015)

      The spot-forward relationship in Atlantic salmon forward prices.

    • Misund, Bård; Øglend, Atle

      (2015)

      U.K. Natural gas volatility.

    • Asche, Frank; Misund, Bård

      (2015)

      Hedging Efficiency of Atlantic Salmon Futures.

      UiS Working Papers in Economics and Finance

    • Misund, Bård; Osmundsen, Petter

      (2015)

      Probable Oil and Gas Reserves and Shareholder Returns: The Impact of Shale Gas.

      UiS Working Papers in Economics and Finance

    • Misund, Bård

      (2015)

      Vertical Integration and Value Relevance: Empirical Evidence from Oil and Gas Producers.

      UiS Working Papers in Economics and Finance

    • Misund, Bård

      (2015)

      Accounting for Oil and Gas Exploration Activities: A Triumph of Economics over Politics.

      UiS Working Papers in Economics and Finance

    • Misund, Bård; Mohn, Klaus

      (2014)

      Exploration Risk in Oil & Gas Shareholder Returns.

      UiS Working Papers in Economics and Finance

    • Mohn, Klaus; Misund, Bård

      (2014)

      Exploration risk in oil and gas shareholder returns.

    • Mohn, Klaus; Misund, Bård

      (2014)

      Exploration risk in oil and gas shareholder returns.

    • Misund, Bård; Osmundsen, Petter; Sikveland, Marius

      (2014)

      Vertical Integration and the value relevance of accounting information from international oil and gas companies.

    • Misund, Bård

      (2009)

      Peer review: Energy Policy (2).

    • Misund, Bård

      (2009)

      Peer Review: Energy Policy (1).

    • Misund, Bård

      (2009)

      Verdsetting av fleksibilitet: trading av gasslager.

    • Misund, Bård

      (2008)

      Verdsetting av undergrunnslager for gass.

    • Misund, Bård

      (2007)

      Verdsetting av internasjonale oljeselskaper - verdirelevans.

    • Misund, Bård; Asche, Frank

      (2007)

      Who's a Major? A novel approach to peer group selection: Empirical evidence from oil and gas companies.

    • Misund, Bård

      (2007)

      Valuation of international oil companies.

    • Mohn, Klaus; Misund, Bård

      (2007)

      Uncertainty in Oil and Gas Investment.

    • Mohn, Klaus; Misund, Bård

      (2007)

      Investment and Uncertainty in the International Oil and Gas Industry.

    • Misund, Bård

      (2006)

      læring og næring.

    • Misund, Bård

      (2006)

      Finansielle nøkkeltall og verdsetting av integrerte oljeselskaper.

    • Misund, Bård

      (2006)

      Option pricing and oil markets.

    • Misund, Bård; Osmundsen, Petter; Asche, Frank

      (2006)

      The pricing of international oil and gas companies 1990-2003 - a structural shift in the equity valuation process.

    • Osmundsen, Petter; Asche, Frank; Misund, Bård; Mohn, Klaus

      (2005)

      Valuation of International Oil Companies - Size Matters.

    • Asche, Frank; Osmundsen, Petter; Misund, Bård; Mohn, Klaus

      (2005)

      High Oil Prices: A Non-OPEC Capacity Game.

    • Asche, Frank; Osmundsen, Petter; Misund, Bård

      (2005)

      The value-relevance of accounting figures in the international oil and gas industry.

    • Guttormsen, Atle G.; Asche, Frank; Misund, Bård

      (2005)

      EUs safeguardtiltak og lønnsomheten i norsk laksenæring.

      Norsk Fiskeoppdrett

      ISSN 0332-7132.

      Volum 30.

      Hefte 3.

      s.22-23.

    • Misund, Bård

      (2005)

      Oljepris og oljeselskapers nøkkeltall.

      Rogalands Avis

    • Misund, Bård

      (2004)

      Verdsetting av oljeselskaper.

    • Misund, Bård

      (1996)

      Slaktekvalitet hos laks.

    • Misund, Bård

      (1995)

      Kvalitet hos laks.

      Norsk Fiskeoppdrett

      ISSN 0332-7132.

  • Kunstnerisk produksjon
    • Misund, Bård

      (2019)

      Fiskeoppdrett. I: Store norske leksikon (snl.no 2019).

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