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Author : Clark Shepard Binkley
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.:/5 (712 download)
Download or read book Financial Evaluation of Timberland Investments written by Clark Shepard Binkley and published by . This book was released on 1988* with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Brooks Mendell
Publisher :
ISBN 13 : 9780989615013
Total Pages : 101 pages
Book Rating : 4.6/5 (15 download)
Download or read book Forest Finance Simplified written by Brooks Mendell and published by . This book was released on 2014-02-04 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book distills forest finance themes and questions into a question-and-answer format for those who want an accessible reference or introduction to forest management and timberland investment decision-making. This includes forestry consultants and investment analysts, timberland owners and investors, and anyone else who needs to understand the identification, valuation, and ranking of timber-dependent and forest-related investments. This handbook succinctly helps readers do the following: Identify and communicate key financial issues for a given forestry or timberland investment; differentiate and explain the pros and cons of traditional approaches to financial analysis; and analyze and value timber and timberland investments.
Author : F. Christian Zinkhan
Publisher : Timber Press (OR)
ISBN 13 :
Total Pages : 216 pages
Book Rating : 4.:/5 (89 download)
Download or read book Timberland Investments written by F. Christian Zinkhan and published by Timber Press (OR). This book was released on 1992 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Common stock. Corporate bonds. Stock mutual funds. Call and put options. Commercial and residential real estate. Municipal bonds. These and others are the alternatives many individual and institutional investors consider when constructing their investment portfolios. This is the first book to investigate how another investment alternative--timberland--can fit into the portfolios of individuals and such institutions as pension funds. Timberland supplies the basic raw material for a critical global industry--forest products. Timber can be managed economically as a renewable crop on hundreds of millions of acres in the United States. Given the forces supporting conservation of forests in their natural state on many public and some private lands in the Unites States and other nations, there is increasing pressure on the remaining privately owned forests to supply the needed timber output. This represents an opportunity for patient, long-term investors. Using insights and graphic examples supplied by experienced institutional investors, professional foresters, forestry and financial researchers, and others, the authors address such questions as the following: How do timberland's investment characteristics compare to those associated with other portfolio alternatives? In addition to direct investments in forests, in what other ways can investors participate in the timberland market? Can the addition of timberland to some investors' diversified portfolios improve overall performance? What personal financial planning goals can be served by timberland? What acquisition, forest management, and sale strategies can be adopted by individual and institutional investors so that objectives are better achieved? In the course of addressing such questions, the authors attempt to bridge the communications gap between the investment and forestry communities. The authors provide valuable perspectives not only for individual and institutional investors, but also for personal financial advisors; forestry practitioners, policymakers and researchers; and students of forestry, real estate, and investments.
Author : Brooks Mendell
Publisher :
ISBN 13 : 9780989615037
Total Pages : pages
Book Rating : 4.6/5 (15 download)
Download or read book Forest Finance Simplified written by Brooks Mendell and published by . This book was released on 2018-02-26 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Forest Finance Simplified distills forest finance themes into a question-and-answer format for those who want an accessible reference or introduction to forest management decision-making and timber investments. This handbook succinctly helps readers do the following: Identify and communicate key financial issues for a given forestry or timberland investment; Differentiate and explain the pros and cons of traditional approaches to financial analysis; Analyze, rank and benchmark the value and performance of forest management activities and timberland investments; Avoid common errors associated with forest investment decisions. The 6th Edition includes additional content on comparing timberland investment vehicles, benchmarking timberland investment performance, making forest management decisions, and evaluating the use of leverage for timber investments.
Author : Bin Mei
Publisher : Taylor & Francis
ISBN 13 : 1000883833
Total Pages : 231 pages
Book Rating : 4.0/5 (8 download)
Download or read book Forestland Investment written by Bin Mei and published by Taylor & Francis. This book was released on 2023-07-20 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: Forestland investment has surged in the past few decades as a result of land ownership change in the forestry industry. Timberland investment and management organizations and real estate investment trusts have bought up land and resources that were divested by vertically integrated forest products companies. This book provides a seminal coverage of this seismic shift in the industry, exploring the philosophy, driving factors, valuation, theory, research, implementation, practice, and effects of forestland investment. Across 15 chapters the book reviews the history of forestland investment; discusses the optimal forest rotation; explains timberland appraisal; examines the return drivers of forestland; analyzes timberland index construction methods and results; prices timberland assets; reviews financial and real options; investigates real option values in forestland management; evaluates timber harvest contracts; examines new opportunities in the emerging woody bioenergy market; and eventually offers prospects on forestland investment in the future. It also discusses how forest carbon can be used as a nature-based climate solution. This book is essential reading for forestry business students and scholars, as well as practitioners and policymakers in the industry.
Author : Carol A. Hyldahl
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (319 download)
Download or read book Risk Analysis and Timber Investments written by Carol A. Hyldahl and published by . This book was released on 1991 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert Turping
Publisher :
ISBN 13 :
Total Pages : 116 pages
Book Rating : 4.:/5 (843 download)
Download or read book Timberland Investment Analysis written by Robert Turping and published by . This book was released on 1974 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : James R. Hitchner
Publisher : John Wiley & Sons
ISBN 13 : 1119312337
Total Pages : 1293 pages
Book Rating : 4.1/5 (193 download)
Download or read book Financial Valuation written by James R. Hitchner and published by John Wiley & Sons. This book was released on 2017-04-28 with total page 1293 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practically-focused resource for business valuation professionals Financial Valuation: Applications and Models provides authoritative reference and practical guidance on the appropriate, defensible way to prepare and present business valuations. With contributions by 30 top experts in the field, this new fourth edition provides an essential resource for those seeking the most up-to-date guidance, with a strong emphasis on applications and models. Coverage includes state-of-the-art methods for the valuation of closely-held businesses, nonpublic entities, intangible, and other assets, with comprehensive discussion on valuation theory, a consensus view on application, and the tools to make it happen. Packed with examples, checklists, and models to help you navigate your valuation project, this book also provides hundreds of expert "tips" and best practices in clear, easy-to-follow language. The companion website provides access to extensive appendix materials, and the perspectives of valuation thought-leaders add critical insight throughout each step of the process. Valuation is an important part of any organization's overall financial strategy, and seemingly-small inaccuracies or incomplete assessments can have big repercussions. This book walks you through the valuation process to give you the skills and understanding you need to get it done right. Learn best practices from 30 field-leading experts Follow clear examples for complex or unfamiliar scenarios Access practical tools that streamline the valuation process Understand valuation models and real-world applications The business valuation process can become very complex very quickly, and there's no substitute for clear guidance and a delineated framework in the run-up to completion. Get organized from the beginning, and be systematic and methodical every step of the way. Financial Valuation: Applications and Models is the all-encompassing, expert guide to business valuation projects.
Author : Bin Mei
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783844302134
Total Pages : 120 pages
Book Rating : 4.3/5 (21 download)
Download or read book Assessing Commercial Timberland Assets in the United States written by Bin Mei and published by LAP Lambert Academic Publishing. This book was released on 2011-01 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: Timberland ownership in the United States has changed dramatically in the past several decades. Integrated forest products firms have been divesting their timberlands, whereas timberland investment management organizations (TIMOs) have been active acquirers. Timberland return has three drivers, the biological growth, timber price, and land price. Biological growth can be consistently estimated, land price is correlated with inflation, while timber price remains most unpredictable. The first part of this book models and forecasts timber prices in 12 southern timber regions via different time series models. The second part examines the financial performance of private- and public-equity timberland investments in the US using both parametric and nonparametric asset ricing approaches. The last part investigates the option values of investment, mothballing, reactivation, and abandonment in a hypothetical southern pine plantation using the contingent claims approach. The results can help investors better understand commercial timberland assets in the US.
Author : Xiaorui Piao
Publisher :
ISBN 13 :
Total Pages : 200 pages
Book Rating : 4.:/5 (1 download)
Download or read book Evaluating the Financial Performance of the Timber Sector in the US written by Xiaorui Piao and published by . This book was released on 2017 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the past two decades, massive structural changes of timberland ownership occurred in the United States with almost 55 million acres of timberland changed hands. Forestry firms structured as C-Corporations (C-Corps) have either converted to timber real estate investment trusts (REITs) or divested most of their timberland holdings to REITs and timber investment management organizations (TIMOs). REIT, as a unique investment vehicle, is known to have better tax efficiency and liquidity and draws investors' attention. The first part of this dissertation evaluates the long-term financial performance of four publicly-traded timber REIT conversions by an event study using buy-and-hold and cumulative abnormal returns, a zero-investment portfolio approach, and pooled ordinary least squares (OLS) regression. The results show that on average, annualized abnormal returns of about 0.5% are identified before, and over 8.9% are identified after, the REIT conversions. Structural changes have added values to the timber firms in the long run. The second part compares the financial performance of publicly-traded timber REITs with other REITs using the intertemporal capital asset pricing model and multivariate generalized autoregressive conditional heteroscedasticity model. The results show that the conditional volatilities of REITs rise more after good news, and REITs as a whole respond positively to past shocks. Timber REITs, in particular, have large market capitalizations and no excess returns, and are insensitive to recessionary shocks. Timber REITs have the smallest unconditional variance and are most vulnerable to idiosyncratic shocks. The last part of this dissertation examines the determinants of timberland transaction prices in the US South during 2000-2015 using over 340 large transaction data provided by Timber Mart-South. The results show that pine sawtimber prices and the Federal funds rate have significantly positive impacts on transaction prices, while crude oil prices and the US dollar index have significantly negative impacts. Among the 11 Southern states, North Carolina and South Carolina have significantly positive effects on transaction prices, while Alabama, Arkansas, Tennessee, Texas, and Virginia have significantly negative effects. In regards to timberland ownership, C-Corps and TIMOs outperform firms outside the timber industry.
Author :
Publisher : Forest Products Society
ISBN 13 :
Total Pages : 150 pages
Book Rating : 4.:/5 (89 download)
Download or read book Assessing Timberland Investment Opportunities written by and published by Forest Products Society. This book was released on 1986 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Alberto Goetzl
Publisher :
ISBN 13 :
Total Pages : 128 pages
Book Rating : 4.:/5 (319 download)
Download or read book Financing Forestry Investments written by Alberto Goetzl and published by . This book was released on 1982 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 98 pages
Book Rating : 4.:/5 (319 download)
Download or read book Proceedings written by and published by . This book was released on 1982 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : James R. Hitchner
Publisher : John Wiley & Sons
ISBN 13 : 1119286603
Total Pages : 1301 pages
Book Rating : 4.1/5 (192 download)
Download or read book Financial Valuation, + Website written by James R. Hitchner and published by John Wiley & Sons. This book was released on 2017-05-01 with total page 1301 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practically-focused resource for business valuation professionals Financial Valuation: Applications and Models provides authoritative reference and practical guidance on the appropriate, defensible way to prepare and present business valuations. With contributions by 30 top experts in the field, this new fourth edition provides an essential resource for those seeking the most up-to-date guidance, with a strong emphasis on applications and models. Coverage includes state-of-the-art methods for the valuation of closely-held businesses, nonpublic entities, intangible, and other assets, with comprehensive discussion on valuation theory, a consensus view on application, and the tools to make it happen. Packed with examples, checklists, and models to help you navigate your valuation project, this book also provides hundreds of expert "tips" and best practices in clear, easy-to-follow language. The companion website provides access to extensive appendix materials, and the perspectives of valuation thought-leaders add critical insight throughout each step of the process. Valuation is an important part of any organization's overall financial strategy, and seemingly-small inaccuracies or incomplete assessments can have big repercussions. This book walks you through the valuation process to give you the skills and understanding you need to get it done right. Learn best practices from 30 field-leading experts Follow clear examples for complex or unfamiliar scenarios Access practical tools that streamline the valuation process Understand valuation models and real-world applications The business valuation process can become very complex very quickly, and there's no substitute for clear guidance and a delineated framework in the run-up to completion. Get organized from the beginning, and be systematic and methodical every step of the way. Financial Valuation: Applications and Models is the all-encompassing, expert guide to business valuation projects.
Author : Sue Klein
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (17 download)
Download or read book An Analysis of Institutional Timberland Investment in the Lake States Region written by Sue Klein and published by . This book was released on 1994 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 604 pages
Book Rating : 4.3/5 (91 download)
Download or read book General Technical Report NC. written by and published by . This book was released on 1981 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Yale University. School of Forestry
Publisher :
ISBN 13 :
Total Pages : 144 pages
Book Rating : 4.:/5 (319 download)
Download or read book Financial Management of Large Forest Ownerships written by Yale University. School of Forestry and published by . This book was released on 1960 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:
