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Seeing The Forest For The Trees: Finance And Managerial Control In The Us Forest Products Industry, 1945-2008, Andrew Augustus Gunnoe

Doctoral Dissertations

Over the past three decades a significant change has taken place in the ownership structure of industrial timberlands in the United States. The once widely held belief that significant timberland ownership was a necessary ingredient for success in the forest products industry came to an end as millions of acres of productive land were sold from industrial forest products firms to institutional investment organizations, known as Timberland Investment Management Organizations (TIMOs) or Real Estate Investment Trusts (REITs). This dissertation examines this large-scale transfer of timberland ownership through a multi-level analysis of financialization and the rise of shareholder value ideology in …