In this study, 68 peer-reviewed journal articles in timberland investments in the United States
published after 1980 are reviewed. Prior to the synthesis, the history of modern timberland …

Portfolio risk forecasting has been and continues to be an active research field for both
academics and practitioners. Almost all institutional investment management firms use …

A new modeling approach which combined survival probabilities for spruce with financial
optimization showed a considerably reduction in financial risk in spruce (Picea abies [L.] …

Abstract The Capital Asset Pricing Model (CAPM) is useful for estimating the risk and risk-
adjusted returns for timberland investments in the United States. However, most analyses …

As a long-term investment, timberland investments offer financial benefits including portfolio
diversification, attractive risk/return profile, an inflation hedge, and the potential of cash flow …

Inflation hedging is one of the unique features of timberland assets that attract timberland
investors. This study uses Fisher hypothesis and capital asset pricing model under inflation …

Using quarterly data (1988Q1–2011Q4), we assess the financial performance of timberland
investments in the United States by the arbitrage pricing theory. Private-equity timberland …

Timberland is seen as a long-term investment that has recently received increased
institutional investor attention in many countries and potentially provides added value in a …

This paper quantifies the diversification potential of timberland investments in a mean-
variance framework. The starting point is a broad set of benchmark assets represented by …

We examine the effects of including timberland, farmland and commercial real estate in a
mixed asset portfolio with stocks, government bonds and T-Bills. Using both smoothed and …