Naslov
Justification of capital investment in small- scale uneven-aged forest estates

Autori
Posavec, Stjepan ; Beljan, Karlo ; Koren, Filip

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
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, 2017, 161-169

ISBN
978-80-213-2761-0

Skup
International Scientific Conference More Wood, Better Management, Increasing Effectiveness : Starting Points and Perspective (10 ; 2017)

Mjesto i datum
Prag, Češka Republika, 24.05.2017. - 26.05.2017

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
small-scale forestry, management plan, investment analysis, Croatia

Sažetak
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.

Izvorni jezik
Engleski

Znanstvena područja
Šumarstvo

POVEZANOST RADA