“…In recent years, more and more firms have been acquiring large-scale lands for securing access to resources (see, e.g., Deininger et al, 2011). Industrial ownership and control of timberland -a form of backward vertical integration -is becoming an increasingly interesting study area in the global forest sector as the competition for arable land to meet demands for food, fiber, energy and ecosystem services further intensifies (Evans et al, 2012;Barua et al, 2014).…”