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Library Forest-mill integration: A transaction cost perspective

Forest-mill integration: A transaction cost perspective

Forest-mill integration: A transaction cost perspective

Resource information

Date of publication
december 2010
Resource Language
ISBN / Resource ID
AGRIS:US201301797033
Pages
207-212

In Canada, where public ownership of forestland is prevalent, a central decision facing policy makers is how to allocate timber resources to private forest companies. Debates tend to focus around what proportion of the annual harvest should be devoted to markets as opposed to long-term contracts. To give a guide to policy makers, we surveyed forest firms from New Zealand and Sweden where this decision is based purely on a commercial basis. On average, mills source fifty percent of their fibre from the market. However, using a fractional logit model, we test whether theories from transaction cost economics influence this decision. Results are consistent with transaction cost economics; firms decrease the proportion of fibre sourced from a market with increasing fibre specificity, capital intensity, forest ownership concentration and uncertainty.

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Authors and Publishers

Author(s), editor(s), contributor(s)

Niquidet, Kurt
O'Kelly, Glen

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Geographical focus