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Effects of China's ...
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Abouhatab, AssemSwedish University of Agricultural Sciences,Sveriges lantbruksuniversitet,Institutionen för ekonomi,Department of Economics,Arish University
(författare)
Effects of China's Collective Forestland Tenure Reform Policies on Forest Product Firm Values
- Artikel/kapitelEngelska2020
Förlag, utgivningsår, omfång ...
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2020-04-24
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MDPI AG,2020
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MDPI,2024
Nummerbeteckningar
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LIBRIS-ID:oai:slubar.slu.se:105235
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https://res.slu.se/id/publ/105235URI
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https://doi.org/10.3390/land9040127DOI
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Språk:engelska
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Sammanfattning på:engelska
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Ämneskategori:ref swepub-contenttype
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Ämneskategori:art swepub-publicationtype
Anmärkningar
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China's collective forestland tenure reform has dramatically affected the business environment of domestic forest product firms. This study examines the impact of the said reform on the expected values of these firms, via the reaction of investors (as seen on the stock markets) towards the issuance of related policies. Based on signaling theory and the assumption that the Chinese stock markets are efficient in terms of work form, this study adopts an event study method and examines five policies during the 2003-2009 period. The numbers of forest product firms used in the examinations herein differ among the policies and range from 21 to 29. This study found that the policies have differentially affected the expected values of forest product firms and that the impact on firms lacking forestland holdings is generally more significant than that on firms that hold forestland. The findings of this study enhance our understanding of the effect of collective forestland tenure reform on the value of forest product firms; they also have implications on forest product firms as they work to adapt to the reform.
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Sveriges lantbruksuniversitetInstitutionen för ekonomi
(creator_code:org_t)
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Sveriges lantbruksuniversitet
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Ingår i:Land: MDPI AG92073-445X
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