Current issue: 56(2)
Under compilation: 56(3)
The existence and direction of causal relationships between the time series for the Finnish roundwood market for the period 1960–1994 is tested. Using simple bivariate analysis, we found evidence that for both logs and pulpwood, the lagged prices are helpful in forecasting quantity for the next year, but not vice versa. Saw log stumpage prices have significantly Granger-caused pulpwood prices over the business cycles, but the effect has diminished towards the present time. For quantities traded, the direction of causality was rather from pulpwood to saw logs. The consistency of bivariate test results was checked by the Granger-causality tests within trivariate VAR-models for both markets, and the results were found to be fairly similar to bivariate tests. The price fluctuations in the international markets for forest products have been found to be carried to domestic wood markets dominantly via the pulpwood part of the market.
This study investigates the relationship between Finnish sulphate pulp export prices and international pulp inventories using the Johansen cointegration method. Long-run equilibrium is found to exist between pulp price and NORSCAN inventory for the study period, 1980-94. Granger causality is found to exist from inventory to price but not vice versa. A simple short-run forecasting model for the Finnish pulp export price is formed. In preliminary analysis, the explanatory power of model is found to be acceptable but only under stable market conditions.
So far, consumer housing values have not been addressed as factors affecting the market diffusion potential of multi-storey wood building (MSWB). To fill the void, this study addresses different types of consumer housing values in Denmark, Finland, Norway, and Sweden (i.e., Nordic region), and whether they affect the likelihood of prejudices against building with wood in the housing markets. The data collected in 2018 from 2191 consumers in the Nordic region were analyzed with exploratory factor analysis and logistic binary regression analysis. According to the results, consumers’ perceptions on ecological sustainability, material usage and urban lifestyle were similar in all countries, while country-specific differences were detected for perceptions on aesthetics and natural milieus. In all countries, appreciating urban lifestyle and living in attractive neighborhoods with good reputation increased the likelihood of prejudices against wood building, while appreciation of aesthetics and natural milieus decreased the likelihood of prejudices. In strengthening the demand for MSWB and sustainable urbanization through actions in businesses (e.g., branding) and via public policy support (e.g., land zoning), few messages derive from the results. In all, abreast with the already existing knowledge on the supply side factors (e.g., wood building innovations), more customized information is needed on the consumer-driven issues affecting the demand potential of MSWB in the housing markets. This would enable, e.g., both enhancing the supply of wooden homes for consumers appreciating urban lifestyle and neighborhoods and fortifying positive image of wood among consumers especially appreciating good architecture and pleasant environmental milieus.
Bioeconomy development will create new opportunities for firms operating in the international wood products markets, and identifying and exploiting these opportunities is emphasized as a key concept to achieving business success. Our study will attempt to address a gap in the literature on sawmill industry business development from the viewpoint of international opportunity recognition. The aim of our study is to provide a holistic description on how small and medium-sized enterprises (SMEs) in the wood products industry recognize and exploit international business opportunities, and how they utilize network perspectives in this context. The subject was examined through Finnish wood product industry SMEs by interviewing 11 managers and industry representatives. The results suggest that SMEs recognize international opportunities reactively per se. Social networks formed in professional forums were an important information channel for identifying international opportunities. Through vertical business networks, such as sales agents, firms have been able to increase their international market presence and free their own resources for other important activities. Horizontal dyadic business networks were seen to facilitate new international opportunities through cooperation, while excessive reliance on vertical networks raised concerns and seemed not to be effective in international opportunity recognition. Institutional networks formed a systematic way of recognizing international opportunities, but more so at the initial market entry stage.
Climate change sets high pressures on the construction industry to decrease greenhouse gas emissions. Due to the carbon storage properties and potential to use renewable resources efficiently, wooden multi-storey construction (WMC) is an interesting alternative for the construction industry to enhance sustainable development combined with the aesthetic and well-being benefits of wood perceived among many consumers. For forest industry firms, industrial wood construction is a possibility to seek for business opportunities and bring socio-economic benefits for local economies. Despite positive drivers, WMC still remains a niche even in the forest-rich countries.The purpose of our study is to add understanding on the WMC market development by conducting a systematic literature analysis on international peer-reviewed studies from the past 20 years. Our special focus is on the role of WMC in the housing markets studied from the perspectives of the demand, supply and local governance factors. As specific aims, we 1) synthesize the key barriers and enabling factors for the WMC market growth; 2) identify the actors addressed in the existing studies connected to the WMC market development, and 3) summarize research methods and analytical approaches used in the previous studies. As a systematic method to make literature searches in Web of Science and Scopus for years 2000–2020, we employed PRISMA guidelines. By using pre-determined keywords, our searches resulted in a sample of 696 articles, of which 42 full articles were after selection procedure included in-depth content analysis. Our results showed cost-efficiency gains from industrialized prefabrication and perceived sustainability benefits by consumers and architects enabled a WMC market diffusion. The lack of experiences on the WMC, and path dependencies to use concrete and steel continue to be key barriers for increased WMC. Although our research scope was the global WMC market development, most of the literature concerned the Nordic region. The key actors covered in the literature were businesses (e.g., contractors, manufacturers and architects) involved in the wood construction value-chains, while residents and actors in the local governance were seldomly addressed. Currently, case studies, the use of qualitative data sets and focus on the Nordic region dominate the literature. This hinders the generalizability of findings in different regional contexts. In the future, more research is needed on how sustainability-driven wood construction value-chains are successfully shaping up in different geographical regions, and how they could challenge the dominant concrete-based construction regime.
The use of network-based business models has been brought up as a means of creating com-petitive edge in the tightening global competition. In practice, adopting network-based models has not yet become common in the wood products industry. The objective of this study is to gain better understanding of types of network-based business models using a case study of two small and medium-sized wood industry companies in Finland (for a sake of anonymity named as A and B). The network of company A is found to consist of mostly of established actors with a new-in-the-market value creation system, whereas network for company B is more stable and has an established value system aiming at growth and incremental innovations. Both networks had experienced difficulties in finding partners and lacked some strategic resources. Via this example we wish to stimulate further research interest on the sources of network-based competitive advantage in the traditional wood product industry in a need of renewal of business models.