Analysis finds significant shareholder benefits from timberland restructuring in publicly traded firms, indicating undervalued assets.
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.
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F. Christian Zinkhan (1988) studied this question.
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