Transaction Costs and Investment Interest in the U.S. South and the Pacific Northwest Timberland Regions
In 2020, a survey was conducted of timberland investment professionals. The focus of the survey was collecting and examining transaction cost data within the timberland investment space. The data collected were generally lacking in the public domain, as well as academic literature, yet it provides i...
| Main Authors: | , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2023-08-01
|
| Series: | Forests |
| Subjects: | |
| Online Access: | https://www.mdpi.com/1999-4907/14/8/1588 |
| _version_ | 1797584716462817280 |
|---|---|
| author | Andrew Hiegel Jacek Siry Bin Mei Pete Bettinger |
| author_facet | Andrew Hiegel Jacek Siry Bin Mei Pete Bettinger |
| author_sort | Andrew Hiegel |
| collection | DOAJ |
| description | In 2020, a survey was conducted of timberland investment professionals. The focus of the survey was collecting and examining transaction cost data within the timberland investment space. The data collected were generally lacking in the public domain, as well as academic literature, yet it provides insight into the significant costs that are involved in timberland investing. The survey revealed that the U.S. South and the Pacific Northwest have significant differences in investor expectations for transaction costs. The objective of the current study was to explore the differences in transaction costs for the two regions and to uncover the relationships between (1) timberland transaction costs; (2) investment interest; and (3) prior experience in owning, investing, or managing timberland in either region. The findings of this work confirmed that transaction costs were a statistically significant predictor of investor interest in the U.S. South and the Pacific Northwest. The findings also showed that prior ownership, investment, or management experience in either region were a statistically significant predictor of investor interest in the U.S. South and the Pacific Northwest. Furthermore, this work explores factors that appear to rationalize the high investor interest in the Pacific Northwest, despite investor expectations of much higher transaction costs associated with timberland acquisition within this region. |
| first_indexed | 2024-03-10T23:56:33Z |
| format | Article |
| id | doaj.art-adffba3ae6a149ceaeec2c8e7d9740ec |
| institution | Directory Open Access Journal |
| issn | 1999-4907 |
| language | English |
| last_indexed | 2024-03-10T23:56:33Z |
| publishDate | 2023-08-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Forests |
| spelling | doaj.art-adffba3ae6a149ceaeec2c8e7d9740ec2023-11-19T01:08:55ZengMDPI AGForests1999-49072023-08-01148158810.3390/f14081588Transaction Costs and Investment Interest in the U.S. South and the Pacific Northwest Timberland RegionsAndrew Hiegel0Jacek Siry1Bin Mei2Pete Bettinger3Warnell School of Forestry and Natural Resources, University of Georgia, Athens, GA 30602, USAWarnell School of Forestry and Natural Resources, University of Georgia, Athens, GA 30602, USAWarnell School of Forestry and Natural Resources, University of Georgia, Athens, GA 30602, USAWarnell School of Forestry and Natural Resources, University of Georgia, Athens, GA 30602, USAIn 2020, a survey was conducted of timberland investment professionals. The focus of the survey was collecting and examining transaction cost data within the timberland investment space. The data collected were generally lacking in the public domain, as well as academic literature, yet it provides insight into the significant costs that are involved in timberland investing. The survey revealed that the U.S. South and the Pacific Northwest have significant differences in investor expectations for transaction costs. The objective of the current study was to explore the differences in transaction costs for the two regions and to uncover the relationships between (1) timberland transaction costs; (2) investment interest; and (3) prior experience in owning, investing, or managing timberland in either region. The findings of this work confirmed that transaction costs were a statistically significant predictor of investor interest in the U.S. South and the Pacific Northwest. The findings also showed that prior ownership, investment, or management experience in either region were a statistically significant predictor of investor interest in the U.S. South and the Pacific Northwest. Furthermore, this work explores factors that appear to rationalize the high investor interest in the Pacific Northwest, despite investor expectations of much higher transaction costs associated with timberland acquisition within this region.https://www.mdpi.com/1999-4907/14/8/1588acquisitionsdue diligencereal assetsREITtimberland investmentTIMO |
| spellingShingle | Andrew Hiegel Jacek Siry Bin Mei Pete Bettinger Transaction Costs and Investment Interest in the U.S. South and the Pacific Northwest Timberland Regions Forests acquisitions due diligence real assets REIT timberland investment TIMO |
| title | Transaction Costs and Investment Interest in the U.S. South and the Pacific Northwest Timberland Regions |
| title_full | Transaction Costs and Investment Interest in the U.S. South and the Pacific Northwest Timberland Regions |
| title_fullStr | Transaction Costs and Investment Interest in the U.S. South and the Pacific Northwest Timberland Regions |
| title_full_unstemmed | Transaction Costs and Investment Interest in the U.S. South and the Pacific Northwest Timberland Regions |
| title_short | Transaction Costs and Investment Interest in the U.S. South and the Pacific Northwest Timberland Regions |
| title_sort | transaction costs and investment interest in the u s south and the pacific northwest timberland regions |
| topic | acquisitions due diligence real assets REIT timberland investment TIMO |
| url | https://www.mdpi.com/1999-4907/14/8/1588 |
| work_keys_str_mv | AT andrewhiegel transactioncostsandinvestmentinterestintheussouthandthepacificnorthwesttimberlandregions AT jaceksiry transactioncostsandinvestmentinterestintheussouthandthepacificnorthwesttimberlandregions AT binmei transactioncostsandinvestmentinterestintheussouthandthepacificnorthwesttimberlandregions AT petebettinger transactioncostsandinvestmentinterestintheussouthandthepacificnorthwesttimberlandregions |