Date of Award


Level of Access Assigned by Author

Open-Access Dissertation

Degree Name

Doctor of Philosophy (PhD)


Forest Resources


David B. Field

Second Committee Member

Robert K. Shepard

Third Committee Member

Thomas Duchesneau


This study indicates that firm size, market share and equity/sales ratio are the principal factors contributing to the profitability (net income) of pulp and paper firms in the United States. Timberland ownership, exports, K-Factor (a measure of relative firm capacity), growth, new supply/real gross domestic product (RGDP) ratio and price index also influence the profitability of pulp and paper manufacturing firms. Market share, an index of the structure of the pulp and paper industry, is determined by a firm's size (assets) and net income. In addition, the number of a firm's production units, K-factor, whether the firm exports, previous concentration in this market sector, number of firms, sales growth, timberland ownership, new supply/RGDP ratio, and product mix may also influence a firm's market share, but not consistently. The present study also describes factors that help a pulp and paper manufacturing firm in decision-making about the ownership and management of timberlands. According to the research findings, net income, equity/sales ratio, mergers, firm size, and K-Factor are the most significant factors related to timberland ownership and management. The current study also confirms the findings of a number of researchers that no significant changes in the timberland ownership of firms in the pulp and paper industry have occurred during the last forty years, in spite of a decline in the area of commercial timberlands. Firms that own or manage timberlands have a significant advantage in terms of net income over those that do not.