The Impact of COVID-19 on Turkish Forest Products Industry

The challenges faced recently by the North American forest products industry have forced it to review many of its key operations. Implementing logistics centers for such a context may therefore help in allocating the wood fibre more efficiently and in reducing sorting and transportation costs. This paper aims to better understand the interaction between a forest logistics center and a complex forest network while exploring the business environment favoring the use of such a structure. A profit maximization model is proposed and applied to a real case in the Mauricie region in Quebec, Canada. A total of 18 groups of scenarios are tested, based on the use of a sort yard and of backhauling. Results show that a logistics center already in operation adds $0.52 in profits for each cubic metre of wood available for harvest (over 2 580 411 m3 per year) for the network under study ($1.4 million annually). A sensitivity analysis also highlights that higher prices and sorting error rates have the greatest impact on the logistics center’s profitability.

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2001 Economic Impacts of the Forest Products Industry in the South

Southern Journal of Applied Forestry ◽

10.1093/sjaf/31.4.181 ◽

2007 ◽

Vol 31 (4) ◽

pp. 181-186 ◽

Cited By ~ 7

Author(s):

Bart Tilley ◽

Ian A. Munn

Keyword(s):

Impact Analysis ◽

Economic Impacts ◽

Value Added ◽

Forest Products ◽

Wood Products ◽

Ripple Effect ◽

Direct Effects ◽

Forest Products Industry ◽

The South ◽

The Impact

Abstract The economic impacts of the forest products industry in the South on state and regional economies were estimated using the Impact Analysis for Planning (IMPLAN) System, an input–output model. Economic impacts were characterized by the (1) direct effects of these industries through their own output, employment, value added, and total and personal income and (2) associated economic multipliers that illustrate the magnitude of the ripple effect direct effects have on the rest of the economy. Direct effects and social accounting matrix multipliers for 2001 are presented by sector (i.e., lumber and wood products, paper and allied products, and wood furniture) for the 13 southern states individually and the region as a whole.

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Log Truck Value Analysis from Increased Rail Usage

Forests ◽

10.3390/f11060677 ◽

2020 ◽

Vol 11 (6) ◽

pp. 677

Author(s):

Sangpil Ko ◽

Pasi Lautala ◽

Kuilin Zhang

Keyword(s):

Case Studies ◽

Raw Materials ◽

Forest Products ◽

Forest Products Industry ◽

Upper Midwest ◽

Time Efficiency ◽

Value Analysis ◽

Fuel Prices ◽

The Impact

Over the past several decades, the transportation of raw materials (logs) has increasingly shifted from the railway to trucks. However, the long-term sustainability of this shift is being questioned due to the shortage of truck drivers, fluctuation of fuel prices, and changes in hours of service laws. The industry is interested in the possibility to shift more logs back to the railway but the impact of such a shift on truckers has not been investigated. This study attempted to quantify the impact of such a change on the operations of log truckers by calculating time efficiency (percentage of daily hours of service for revenue activities) and value efficiency (average loaded versus total ton-kilometers per day) between a truck only and multimodal (truck/rail) alternatives. We used actual data from the forest products industry companies and truck performance data from an earlier study to investigate the impact through case studies in four different locations of the upper Midwest, US. The results of our analysis revealed that in three out of our four case studies, re-routing log movements through rail yard/siding improved the time efficiency and value efficiency. Finally, our sensitivity analysis found that increases in average truck speed and maximum hours or service had higher impact on multimodal transportation than in truck-only system.

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Event analysis of the impact of mergers and acquisitions on the financial performance of the U.S. forest products industry

Forest Policy and Economics ◽

10.1016/j.forpol.2007.11.005 ◽

2008 ◽

Vol 10 (5) ◽

pp. 286-294 ◽

Cited By ~ 21

Author(s):

Bin Mei ◽

Changyou Sun

Keyword(s):

Mergers And Acquisitions ◽

Financial Performance ◽

Forest Products ◽

Event Analysis ◽

Forest Products Industry ◽

The Impact ◽

The U.S

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Assessing the impact of macroeconomic news on the U.S. forest products industry portfolio across business cycles: 1963–2010

Forest Policy and Economics ◽

10.1016/j.forpol.2012.12.005 ◽

2013 ◽

Vol 28 ◽

pp. 15-22 ◽

Cited By ~ 1

Author(s):

Yang Wan ◽

Michael L. Clutter ◽

Jacek P. Siry ◽

Bin Mei

Keyword(s):

Business Cycles ◽

Forest Products ◽

Forest Products Industry ◽

Macroeconomic News ◽

The Impact ◽

The U.S

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The impact of foreign direct investment on the productivity of the Chinese forest products industry

Forest Policy and Economics ◽

10.1016/j.forpol.2019.102035 ◽

2020 ◽

Vol 111 ◽

pp. 102035 ◽

Cited By ~ 2

Author(s):

Benxi Lin ◽

Ruiying Du ◽

Zekuan Dong ◽

Shaosheng Jin ◽

Weipin Liu

Keyword(s):

Foreign Direct Investment ◽

Direct Investment ◽

Forest Products ◽

Forest Products Industry ◽

The Impact

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Impacts of Infectious Disease Outbreaks on Firm Performance and Risk: The Forest Industries during the COVID-19 Pandemic

Journal of Risk and Financial Management ◽

10.3390/jrfm14070318 ◽

2021 ◽

Vol 14 (7) ◽

pp. 318

Author(s):

Ståle Størdal ◽

Gudbrand Lien ◽

Erik Trømborg

Keyword(s):

North America ◽

Stock Returns ◽

Event Study ◽

Systematic Risk ◽

Disease Outbreaks ◽

Forest Products ◽

World Health ◽

Study Analysis ◽

Forest Products Industry ◽

The Impact

We examine the financial performance of the forest products industry in the initial phase of the COVID-19 pandemic, employing data for publicly trading companies in the industry globally. We first examine the market investor reaction to the declaration of a pandemic by the World Health Organization (WHO) in March 2020 by conducting an event-study analysis. Then, we analyze medium-term changes in stock returns and their systematic risk by an econometric estimation of the capital asset pricing model. Our event-study analysis of the forest products industry shows that the forestry subsector was impacted more than the paper subsector when the WHO declared the pandemic. The effect was most prominent in North America. We find that the systematic risk for the forestry subsector tended to increase during 2020, until October. Again, this effect was most clear in North America. Conversely, the impact on the paper subsector was more stable.

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