Justification of capital investment in small- scale uneven-aged forest estates (CROSBI ID 648418)
Prilog sa skupa u zborniku | izvorni znanstveni rad | međunarodna recenzija
Podaci o odgovornosti
Posavec, Stjepan ; Beljan, Karlo ; Koren, Filip
engleski
Justification of capital investment in small- scale uneven-aged forest estates
This paper addresses the issue of justification of capital investment in small-scale uneven- aged forests (silver fir-common beech) in the Republic of Croatia. Investment is considered a purchase of a forest and its pertaining land. A case study was conducted on a real-life case of a forest estate that is currently for sale (area of 2.5 ha). Property purchase was hypothetical, while all incoming parameters such as property price, forest characteristics, increment, assortment structure and selling prices of wood assortments were real. Forest Management plans for private forest owners were used to estimate the cash flow. Cash flow and investment analysis were calculated using capital budgeting tools. Although the expected return on investment in forestry is in about 20 years, local currency inflation was taken into consideration. The results of the case study analyses would show whether the decision making was economically justified and if so, under what conditions to invest into a purchase of a small-scale forest property.
small-scale forestry, management plan, investment analysis, Croatia
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Podaci o prilogu
161-169.
2017.
objavljeno
Podaci o matičnoj publikaciji
10th International Scientific Conference More Wood, Better Management, Increasing Effectiveness : Starting Points and Perspective : poceedings
Dudik, Roman
Prag: WoodEMA, i.a. ; Czech University of Life Sciences
978-80-213-2761-0
Podaci o skupu
International Scientific Conference More Wood, Better Management, Increasing Effectiveness : Starting Points and Perspective (10 ; 2017)
predavanje
24.05.2017-26.05.2017
Prag, Češka Republika