Motivations, business structures, and management intentions of large family forest landowners: A case study in the U.S. South

Yenie L. Tran, Jacek P. Siry, Robert L. Izlar and Thomas G. Harris

Forest Policy and Economics, 2020, vol. 118, issue C

Abstract: A case study approach was used to better understand the characteristics of large family forest landowners in the U.S. South. In particular, this study examines these landowners' business structures, extent of ownership, and management objectives. Large family forest landowners were defined as families or family businesses owning large tracts of forested land. Using the theoretical framework of the socioemotional wealth model, we identified and interviewed 36 family forest landowners with large landholdings (a total of 1.37 million acres and an average of 37,000 acres per owner), recorded and transcribed discussions, and analyzed the results using a grounded theory approach. Findings suggested that in addition to financial benefits, the landowners derived socioemotional benefits from the land, such as a sense of identity associated with the land and its history and the value of passing it on to future generations. These nonfinancial benefits coupled with large landholdings could lead to the adoption of business structures to maintain the land as a consolidated unit. The results of this study show that business structures of large family forest landowners may indicate motivations for managing the land and intentions for long-term ownership of the land.

Keywords: Private forests; Socioemotional wealth; Ownership structures; Family businesses; Nonfinancial benefits (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eee:forpol:v:118:y:2020:i:c:s1389934119302680

DOI: 10.1016/j.forpol.2020.102244

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