| Article ID: | iaor20115832 |
| Volume: | 13 |
| Issue: | 5 |
| Start Page Number: | 396 |
| End Page Number: | 401 |
| Publication Date: | Jun 2011 |
| Journal: | Forest Policy and Economics |
| Authors: | Sun Xing, Zhang Daowei |
| Keywords: | economics |
The study shows that industrial timberland sales created shareholder values but added little costs to forest products firms. Change in market capitalization per land unit was positively related to firms' total asset but negatively to total debt. A change attempting to level timber sales tax between different ownerships is unlikely to bring back industrial owners.