Notes: The Stock Market's Reaction to Timberland Ownership Restructuring Announcements: A Note

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Abstract:

Four publicy traded forest products firms have distributed a total of eight million acres of timberland to publicly offered limited partnerships. It is found that shareholders benefitted significantly around the announcement date of the event. The results suggest that the share prices of the forest products firms did not adequately reflect the value of their timberland prior to the announcement. For. Sci. 34(3):815-819.

Keywords: Event-study methodology; forest products firms; timberland limited partnership; timberland spinoff

Document Type: Miscellaneous

Affiliations: Assistant Professor and Chairman, Department of Financial Planning, Lundy-Fetterman School of Business, Campbell University, Buies Creek, North Carolina 27506

Publication date: September 1, 1988

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