Progress 02/15/11 to 08/14/15
Outputs
Target Audience:Policy-makers, forest economists, forest landowners, forest industry, institutional timberland owners. Changes/Problems:
Nothing Reported
What opportunities for training and professional development has the project provided?This project allows us to train 2 post-docs (each with 1.5 years) and 1 doctoral student. All three have gone on to find academic jobs. How have the results been disseminated to communities of interest?Refereed publications, conference presentations, and at request (of various researchers and graduate students). What do you plan to do during the next reporting period to accomplish the goals?
Nothing Reported
Impacts
What was accomplished under these goals?
We have accomplished all of the three objectives for this project, even though works in objective three is in the submission stages. We have published 4 journal articles, 1 book chapter, and made 3-4 presentations. Finally, our work on this project has also been included in a book. This project allows us and readers of our work tohave a clear understanding on the status of institutional timberland owners in the U.S., the structural change of U.S. forest sector, and the policy implications of forest sustainability. We are happy with our accomplishments, and our works are well received.
Publications
- Type:
Journal Articles
Status:
Published
Year Published:
2015
Citation:
Zhang, D. X. Sun, B. Butler, and J. Prestemon. 2015. Harvesting Choices and Timber Supply among Landowners in the Southern United States. Canadian Journal of Agricultural Economics 63(3): 409-429.
- Type:
Journal Articles
Status:
Published
Year Published:
2015
Citation:
Sun, X., D. Zhang, and B. Butler. 2015. Timberland Ownerships and Reforestation in the Southern United States. Forest Science 61(2): 336-343
- Type:
Conference Papers and Presentations
Status:
Published
Year Published:
2015
Citation:
Zhang, D. 2015. Forest Landowners Demographics. Presented in Alabama Landowners Conference. February 4.
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Progress 02/15/14 to 02/14/15
Outputs
Target Audience: Instiututional timberland owners and researchers through articles and conference presentations Changes/Problems:
Nothing Reported
What opportunities for training and professional development has the project provided? Two graduate students. How have the results been disseminated to communities of interest? Through conference presentations What do you plan to do during the next reporting period to accomplish the goals? To complete all the goals of the project.
Impacts
What was accomplished under these goals?
We have accomplished the first and second goals. we are now working on the third goal.
Publications
- Type:
Conference Papers and Presentations
Status:
Other
Year Published:
2014
Citation:
Zhang, D. 2014. Changing cooperate ownership and implications for the future: The rise and demise of industrial timerberland ownership in the U.S. SOFEC. Durham, NC. November 3-5.
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Progress 02/15/13 to 02/14/14
Outputs
Target Audience: One presentation was made in the Southern Forest Economics Workshop in Auburn, Alabama, March 10-12. Changes/Problems:
Nothing Reported
What opportunities for training and professional development has the project provided? This project allows us to hire 1 post-doc fellow and one Ph.D. student. How have the results been disseminated to communities of interest? The papers have been sent to interested scientists and economists. What do you plan to do during the next reporting period to accomplish the goals? Complete all research on this project and publish all the papers.
Impacts
What was accomplished under these goals?
We have produced two papers. One was presented in a conference. Both have been submitted to refereed journals and are under review.
Publications
- Type:
Conference Papers and Presentations
Status:
Published
Year Published:
2013
Citation:
Sun, X., and D. Zhang. 2013. Timber Supply among Forest Landowners in the Southern U.S. Proceedings of the Southern Forest Economics Workshop. Auburn, AL. March 10-12.
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Progress 02/15/12 to 02/14/13
Outputs
OUTPUTS: We have identified, classified, and mapped all institutional timberland ownership in the U.S. South. Further, we have studied their timber supply, reforestation, and environmental performance, and compared these behavior/results with other landowners. PARTICIPANTS: Daowei Zhang, Auburn University; Brett J. Butler, U.S. Forest Service; Rao Nagubadi, Research Fellow, Xing Sun, Post-doc; Eric Dolly, MSc student at Auburn University TARGET AUDIENCES: Investors, forest landowners, forest policy makers, academicians. PROJECT MODIFICATIONS: Nothing significant to report during this reporting period.
Impacts
We have compiled an exhaustive list of Timberland Investment Management Organizations (TIMOs) and timberland Real Estate Investment Trusts (REITs) and identified them based on U.S. Forest Inventory Analysis plot-level data. We find that TIMOs and REITs own/manage about 16 million acres or 10 percent of the timberland in 11 southern states and that they manage these forests in a sustainable fashion. Further, TIMOs and REITs own/manage more forest plantations than other owners and harvest more hardwood than is grown. Most of the timberland owned and managed by TIMOs and REITs, located mainly in the southern coastal plains and piedmonts, were previously owned by forest industry firms.
Publications
- Zhang, D., B. Butler, and R. Nagubadi. 2012. Institutional Timberland Ownership in the U.S. South, Magnitude, Location, Dynamics, and Management. Journal of Forestry 110 (7): 355-361.
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Progress 02/15/11 to 02/14/12
Outputs
OUTPUTS: The purpose of this project is to (1) identify and map institutional timberland ownership in the U.S. South, (2) to study the timber supply elasticity of various ownerships, and (3) to study the behavior of institutional timberland owners. Progress was made on three fronts last year. First, we have identified and mapped institutional timberland owners. Second, we have collected data and completed a preliminary study on timber supply associated with various ownerships. Finally, we have recruited a graduate student and a post-doc to work on this project. PARTICIPANTS: Daowei Zhang, Professor of Forest Economics, Auburn University Bret Butler, U.S. Forest Service Xing Sun, Ph.D. Student, Auburn University Eric Dooly, Master student, Auburn University TARGET AUDIENCES: The targeted audiences of this project are forest policy-makers, forest products industry, forest landowners, and public and non-governmental conservation organizations. The database, map, and other results generated from this project will help them make informed decision on forest and land use policy. PROJECT MODIFICATIONS: Nothing significant to report during this reporting period.
Impacts
The main findings include (1) the sale of industrial timberland to institutional owners did increase the short-term return of forest products firms but did not alter their levels of risk, (2) institutional owners--including those through timberland investment management organizations (TIMOs) and timberland Real Estate Investment Trusts (REITs) own about 10 per cent of industrial timberland in the South, (3) the supply behavior of institutional timberland owners is different from industrial and family owners.
Publications
- Sun, Xing, and D. Zhang. 2011. An Event Analysis of Industrial Timberland Sales on Shareholder Values of Major U.S. Forest Products Firms. Forest Policy and Economics 13(5): 396-401.
- Zhang, D., and P.H. Pearse. 2011. Forest Economics. University of British Columbia Press, Vancouver, Canada.
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