Kurt Niquidet, Kyle Sia-Chan, Jonathan Kan, Daowei Zhang
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引用次数: 0
Abstract
This paper examines the impact of a modernized forest policy
change in 2021 on the stock prices of forest products firms that
operate and hold tenure in British Columbia. Our results suggest
that the announcement of new forest policies led to substantial
losses in the stock prices of five major publicly traded forest products
firms that operate in the province. As a control, we also found
that another public company that operated in another Canadian
province and was not subject to the policy changes experienced an
insignificant impact on their stock price. The impact on market
capitalization is related to the harvesting rights held by these companies
within British Columbia under various forest tenures. The
results highlight that, for a variety of reasons, investors thought
the proposed policy changes would adversely impact each firm’s
future financial performance.
期刊介绍：
The journal covers all aspects of forest economics, and publishes scientific papers in subject areas such as the following:
forest management problems: economics of silviculture, forest regulation and operational activities, managerial economics;
forest industry analysis: economics of processing, industrial organization problems, demand and supply analysis, technological change, international trade of forest products;
multiple use of forests: valuation of non-market priced goods and services, cost-benefit analysis of environment and timber production, external effects of forestry and forest industry;
forest policy analysis: market and intervention failures, regulation of forest management, ownership, taxation;
land use and economic development: deforestation and land use problem, national resource accounting, contribution to national and regional income and employment.
forestry and climate change: using forestry to mitigate climate change, economic analysis of bioenergy, adaption of forestry to climate change.
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