scholarly journals O EFEITO DO CUSTO DA TERRA NA RENTABILIDADE FLORESTAL: UM ESTUDO DE CASO PARA SANTA CATARINA

FLORESTA ◽  
2011 ◽  
Vol 41 (3) ◽  
Author(s):  
Ricardo Berger ◽  
Anadalvo Juazeiro dos Santos ◽  
Romano Timofeiczyk Júnior ◽  
Alexandre Muzy Bittencourt ◽  
Vanderlei Santos de Souza ◽  
...  
Keyword(s):  
Forest Management ◽  
Net Present Value ◽  
Santa Catarina ◽  
Investment Activity ◽  
Forestry Sector ◽  
New Business ◽  
Land Cost ◽  
Pinus Spp ◽  
The Cost ◽  
The Impact

ResumoEste trabalho objetivou verificar o impacto do custo da terra na rentabilidade da produção de madeira de Pinus. O setor florestal tem como característica fundamental gerar retornos financeiros em longo prazo, tornando muitas vezes o investimento na atividade um grande entrave a novos negócios. O preço da terra é uma variável que depende do retorno da atividade florestal, tornando necessário conhecer o efeito que o valor desse recurso terá sobre a rentabilidade. Para realizar uma estimativa da rentabilidade na atividade florestal, foram utilizados os critérios econômicos Valor Presente Líquido (VPL) e a Taxa de Interna de Retorno (TIR). Os resultados obtidos mostraram ser mais atrativa a não aquisição da terra, com VPL de US$ 5.584,00 e TIR de 18% ao ano. Já quando foi considerada a compra da terra, os resultados econômicos sofreram redução, com VPL de US$ 3.711,00 e TIR de 11% ao ano. A opção de arrendamento apresentou VPL de US$ 3.531,00 e TIR de 13% ao ano. Porém, antes de utilizar esses critérios como tomada de decisão, outros fatores devem ser avaliados, como o impacto da renda da reserva legal, melhor grau de utilização das terras e um manejo florestal adequado, visando aumentar a receita com a obtenção de novos produtos e maior produção das florestas.Palavras-chave: Rentabilidade econômica; preço da terra; manejo florestal; pínus. AbstractThe effect of land cost in the forest profitability: a case study for Santa Catarina. This research aimed to ascertain the impact of land cost land on profitability of Pinus spp. timber production. The forestry sector has as key feature to generate financial returns in the long term, often making the investment activity in a large barrier to new business. The price of land is a variable that depends on the return of forest activity, making it necessary to know the effect that the cost of this resource will have on profitability. In order to estimate return on forest activity, it uses economic criteria, like Net Present Value (NPV) and Internal Rate of Return (IRR). The results proved to be more attractive the non-acquisition of land, with NPV of US$ 5.5804,00 and IRR of 18% per year. Considering the investment in land (purchase or lease), the economic results have suffered reduction with NPV of US$ 3.711,00 and IRR of 11% per year. The lease of land presented a NPV of US$ 3.531,00 and IRR of 13% per year. But, before using such criteria as the only decision making, other factors must be evaluated as to obtain the income of the legal reserve, the better level of use of land and a proper forest management, aiming to increase revenue with the acquisition of new products and increased production of forests.Keywords: Economic profitability; land price; forest management; pinus.

The impact of law, religion, and culture on the ease of starting a business

2018 ◽  
Vol 21 (4) ◽  
pp. 242-257 ◽  
Author(s):  
Dana L. Haggard ◽  
K. Stephen Haggard
Keyword(s):  
Economic Development ◽  
Political Stability ◽  
Cultural Dimension ◽  
Legal Origin ◽  
Content Type ◽  
Dynamic Factors ◽  
New Business ◽  
The Cost ◽  
The Impact ◽  
Starting A Business

Purpose The purpose of this paper is to examine the effects of culture, legal origin and religion on four measures of the ease of starting a new business; the number of procedures required, the number days required, the ease of getting credit and the cost to start a business. Design/methodology/approach The authors use linear regression to test the hypotheses using publicly available data on legal origin and religion from La Porta et al. (1999), cultural dimension information from Hofstede (2009) and measures of the ease of starting a business from the World Bank’s (2017) Doing Business Initiative. The final sample consists of 71 countries for which information was available on all the variables of interest. Findings Legal origin affects the number of procedures and the length of time needed to start a business, as well as the ease of getting credit. Culture (power distance) and religion are important for explaining gender differences in the ease of starting a business. The cost of starting a business is unrelated to culture, legal origin or religion. Originality/value Economic development is an important determinant of a country’s political stability and standard of living. Although politicians play a significant role in how a friendly a country is toward business, the study demonstrates that other longer-term and less dynamic factors have a material influence on economic development.

The impacts of COVID-19 on the sustainable management of the forestry sector in Southern Africa

2021 ◽  
Vol 23 (3) ◽  
pp. 298-308
Author(s):  
P.W. Chirwa ◽  
J.M. Kamwi ◽  
G. Kabia ◽  
L. Makhubele ◽  
W. Sagona ◽  
...  
Keyword(s):  
Forest Management ◽  
Southern Africa ◽  
Sustainable Management ◽  
Sustainable Forest Management ◽  
Land Uses ◽  
Illegal Logging ◽  
Forest Production ◽  
Forestry Sector ◽  
The Impact ◽  
Targeted Approach

The objective of the study was to examine the impact of the COVID-19 pandemic on sustainable forest management in southern Africa. The study employed a targeted approach, also referred to as purposive sampling, to select respondents from the various sectors. The results show that COVID-19 had an 80% impact on forest management operations. The COVID-19 pandemic did not have a significant effect on the conversion of land from forest to other land uses. However, there was severe illegal logging and moderate to severe fires. The COVID-19 pandemic also had a severe impact on the agriculture, environment and ecotourism sectors, with nature reserves completely closed. From the forest production perspective, the impact of COVID-19 on production, supply, demand and the price of timber was generally low due to the commercial nature of the forestry sector in South Africa; the largest economy in SADC being classified as an essential sector.

scholarly journals The Impact of Timber Harvesting Guidelines and Timber Sale Attributes on Stumpage Bidding Behavior

2005 ◽  
Vol 22 (4) ◽  
pp. 275-280 ◽  
Author(s):  
Michael A. Kilgore ◽  
Charles R. Blinn
Keyword(s):  
Forest Management ◽  
Timber Harvesting ◽  
Physical Characteristics ◽  
The Other ◽  
Sources Of Information ◽  
Bidding Behavior ◽  
Specific Factors ◽  
Timber Sale ◽  
The Cost ◽  
The Impact

Abstract Twenty-seven public timber tracts were auctioned in Minnesota where bidders were required to submit two sealed bids for a tract–one with and the other without the use of timber harvesting guidelines. After the auctions, bidders were mailed a questionnaire requesting information about their logging business, the sources of information consulted in developing their bids, and perceptions of how various tract- and sale-specific factors and guidelines influenced their bidding behavior. The majority of responding timber harvesters did not consult any special sources and only one-half visited the tract before submitting their bids. Although bidding behavior was influenced by several factors, a tract's physical characteristics (e.g., volume of merchantable timber) had a greater influence on their bidding behavior than did any guidelines. Of the guidelines evaluated, those that required leaving merchantable trees (e.g., for wildlife or visual purposes) were reported to have the greatest influence on stumpage bids. Sale-specific variables (e.g., timber harvester's need for timber) had only a minimal to moderate influence on bidding behavior. The findings suggest that timber sale design can help mitigate the cost associated with implementing forest management guidelines.North. J. Appl. For. 22(4):275–280.

scholarly journals The cost disadvantage of steep slope viticulture and strategies for its preservation

OENO One ◽  
2021 ◽  
Vol 55 (1) ◽  
pp. 49-68
Author(s):  
Larissa Strub ◽  
Simone Mueller Loose
Keyword(s):  
Net Present Value ◽  
Univariate Analysis ◽  
Steep Slope ◽  
Production Costs ◽  
Pricing Policy ◽  
Fixed And Random Effects ◽  
Option Strategies ◽  
The Cost ◽  
Steep Slopes ◽  
The Impact

The falling fallow of steep slope vineyards is caused by cost disadvantages that have not been analysed so far. This study quantified the production costs of different types of steep slopes, identified cost drivers within viticultural processes and assessed the impact of grape yield on the production cost for vertical shoot positioning (VSP) systems. It also examined under what conditions the reshaping of steep slope vineyards into transversal terraces (TTs) is economically viable. Costs were derived from a dataset of 2321 working time records for labour and machine hours from five German wine estates over three years. The costs for standard viticultural processes were compared across five site types with different mechanisation intensities by univariate analysis of variance with fixed and random effects. The net present value (NPV) of reshaping slopes into horizontal terraces was also assessed. Manual management of steep slopes was determined to be 2.6 times more costly than standard flat terrain viticulture. The cost disadvantage of steep slopes mainly stems from viticultural processes with limited mechanisability that require specialised equipment and many repetitions. Current subsidies fall short of covering the economic disadvantage of manual and rope-assisted steep slopes. Climate change-related drought and yield losses further increase the economic unsustainability of steep slopes. Under certain conditions, the transformation of manual steep slope sites into TTs can be a viable economic option. Strategies to reduce the cost disadvantage are outlined. The estimated cost benchmarks provide critical input for steep slope wine growers’ cost-based pricing policy. These benchmarks also give agricultural policy reliable indicators of the subsidies required for preserving steep slope landscapes and of the support needed to transform manual steep slope sites into TTs.

scholarly journals ECONOMIC AND ENVIRONMENTAL ASPECTS OF FOREST LEASE ON THE EXAMPLE OF MORDOVIA REPUBLIC

ÈKOBIOTEH ◽  
2020 ◽  
Vol 3 (3) ◽  
pp. 390-400
Author(s):  
L.M. Chernyakevich ◽  
◽  
E.S. Vdovin ◽  
Keyword(s):  
Forest Management ◽  
Ecological Condition ◽  
Forest Sector ◽  
Timber Production ◽  
Wood Harvesting ◽  
Forest Use ◽  
The Republic ◽  
The Cost ◽  
Competitive Products ◽  
The Impact

The article analyses the impact of the lease model of relations in forestry on the economic and environmental impact of its management. The existing low economic efficiency of forestry of the Republic of Mordovia and negative ecological trends require a revision of the forest management model. The forest sector of Mordovia failed to create a competitive market environment. The lease relationship did not create conditions to increase the profitability of timber production through its innovative development. The fact is that low payment rates of timber put the economic barrier on the way to modernization of timber production, stimulating the preservation of backward, inefficient technologies in the field of wood harvesting and processing, in which a large amount of waste is generated, there is low productivity, non-competitive products are produced in export markets. Also, the ecological condition of forests continues to deteriorate as a result of the development of lease relations in the region. The authors of the article consider that a concession model should replace the lease model of forest management. Its use will increase the profitability of forestry, as the concession payment for forest use will most rightly correspond the cost of consumed resources in the region, as well as take into account the unique natural characteristics of the territory used.

scholarly journals The main costs of natural disasters in the Forest District of Węgierska Górka

2014 ◽  
Vol 75 (3) ◽  
pp. 263-275
Author(s):  
Adam Tomasz Sikora ◽  
Joanna Ukalska
Keyword(s):  
Forest Management ◽  
Natural Disasters ◽  
Unit Cost ◽  
Economic Losses ◽  
Unit Costs ◽  
The Cost ◽  
The Impact ◽  
Linear Regressions ◽  
Forest District

Abstract The aim of the study was to determine the impact of increased forest management due to natural disasters on particular core unit costs. We analysed the direct costs for the Forest District of Węgierska Górka in the years 2004-2010 based on information from the State Forests lnformation System (SFIS) database compared with selected forest districts within the Regional Directorate of State Forests in Cracow (RDSF). The forest districts were divided into two groups with two and six forest districts and confidence intervals around the mean were determined and the significance of linear regressions of the considered characteristics was tested. Additionally, the growth rate (decrease) of the unit cost was calculated. Our studies showed that natural disasters affect only certain unit costs regardless of the intensity of the forest management. The increase in unit costs resulted in economic losses in forest management. A full long-term analysis of the economic impact of natural disasters should be done, taking into account the cost of reforestation of destroyed areas which may become apparent only some years later.

scholarly journals Harvendusraiete tasuvuse analüüs ja pikaajalise mõju simulatsioonid Järvselja õppe- ja katsemetskonnas

2020 ◽  
Vol 72 (1) ◽  
pp. 54-63
Author(s):  
Paavo Kaimre ◽  
Priit Vellak ◽  
Meelis Teder
Keyword(s):  
Forest Management ◽  
Net Present Value ◽  
Net Income ◽  
Wood Production ◽  
Present Value ◽  
Management Scenarios ◽  
Fuel Wood ◽  
Stand Management ◽  
Long Run ◽  
The Impact

AbstractThe results of the analysis of profitability and impact of thinning on wood production in Järvselja Training and Experimental Forest Centre are presented in the article. The profitability was assessed on the basis of harvesting income and costs of logging operations in 2015–2017. The impact of thinning on the wood production was assessed using the MOTTI simulation program. Three different scenarios for the management of the stand were compared: 1) stand management in accordance with the Finnish forest management recommendations (Tapio recommendations), 2) management according to the Estonian Forest Management Regulations and 3) stand development without thinning. The results revealed that 61 thinnings out of the 70 were profitable. The average net income from thinning was 344 euros per hectare. Fuel wood accounted for 45% and pulpwood for 30% of the harvested timber. Net present value was applied as a criterion to assess the profitability of long-term management scenarios. Considering Tapio's recommendations, the total net present value was 33% higher and following Estonian forest management rules, it was 23% higher compared to the simulations without thinning. The results indicated that thinning is economically viable in the long run. In simulations without thinning, timber production is the highest, but the net present value of management is lower compared to simulations with thinning.

scholarly journals ІННОВАЦІЇ ЯК ОСНОВНИЙ ВАЖІЛЬ СУБ'ЄКТА ГОСПОДАРЮВАННЯ В ПІДВИЩЕННІ ІНВЕСТИЦІЙНОЇ ПРИВАБЛИВОСТІ

2019 ◽  
pp. 35-43
Author(s):  
E. Madiyarova ◽  
L. Sorokina ◽  
G. Kunafina ◽  
G. Islyam
Keyword(s):  
Net Present Value ◽  
Economic Effect ◽  
Payback Period ◽  
Practical Significance ◽  
Process Equipment ◽  
Initial Moment ◽  
Present Value ◽  
Investment Activity ◽  
Payback Time ◽  
The Impact

The problem of increasing the investment activity of an enterprise is quite relevant, since in a developing economy, investment is a financial resource, on the basis of which enterprises can build their long-term strategic policy. The purpose of the research was to develop methodological, scientific-practical recommendations for assessing and increasing the investment attractiveness of a service enterprise, taking into account the impact of innovative implementations. The object of research. The article focuses on the innovation of the process equipment of the installation for automatic heat treatment of welded joints by conducting a comparative analysis of the possibilities available. The hypothesis of the research.  The concept of the utility of investments may include the realization of investment goals that are different from the only possible behavior of an economic agent in the neoclassical theory of goal — maximizing profit or income. The methods used of the research were the practical side of the built relationship between the population and authorities at all levels. The statement of basic materials. The actual implementation of the obtained research results determines the novelty of the type of service on the Kazakhstan market, in particular, the city of Ust-Kamenogorsk and the East Kazakhstan region. In addition, the article recommends ways to improve the efficiency of the research object, allowing to obtain a significant economic effect and investment attractiveness of the business entity, the presented project is beneficial and expedient for implementation in the production process. The originality and practical significance of the research. The effectiveness of the project can be determined by calculating the net present value of the project, the profitability index and the payback period of the project. Conclusions. The payback period, taking into account discounting, is the period from the initial moment to the “payback time, including discounting.” The payback time with discounting is the earliest time in the billing period, after which the net present value of the investment becomes, and in the future remains non-negative.

The Cost of Capital for Financial Evaluation of Plant and Machinery Capital Proposals

1989 ◽  
Vol 203 (1) ◽  
pp. 57-62
Author(s):  
R H Mole
Keyword(s):  
Net Present Value ◽  
Cost Of Capital ◽  
Capital Expenditure ◽  
Great Majority ◽  
Analytical Framework ◽  
Cash Flows ◽  
Companion Paper ◽  
Financial Appraisal ◽  
The Cost ◽  
The Impact

This paper makes the case for the close involvement of engineers in the financial appraisal of proposals for capital expenditure on plant and machinery. Post-tax assessments are now essential for the great majority of companies and this requires a coherent analytical framework which encompasses both the tax cash flows and the impact of tax upon the cost of capital in an inflationary environment. This paper deals with the impact of taxation upon the cost of capital, the discount rate and the yield (internal rate of return) which forms an essential component of modern methods of discounted cash flow financial appraisal. A companion paper considers tax cash flows and shows that the net present value discounted at the net cost of capital may be distorted in comparison to the pre-tax NPV discounted at the gross cost of capital.

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