... of copula-based portfolio strategies are better than of the historical models. Another insight gained by this study is that socially responsible investments in forestry stocks are feasible without sacrificing risk-adjusted returns. Corresponding author: Andreas Stephan, andreas.stephan@lnu.se . ©...

...Joseph Buongiorno; Mo Zhou The objective of this study was to explore methods to measure the effect of the choice of discount rates on the expected value and risk (measured with standard deviation) of the net present value (NPV) of financial returns, and on the expected value and risk...

...Daowei Zhang; Richard W. Hall In this paper we investigate the drivers of U.S. timberland property value, returns, and risk represented by the NCREIF Timberland Index from 1987 to 2016. We use the Faustmann-Hartman model to develop and test one timberland property value model and two timberland...

... rights only Q23 Q54 forest economics risk natural disturbance hazard Natural disturbances are an important part of ecosystem health and functioning, and under normal circumstances in healthy surroundings, disturbances are an integral part of nature. However, catastrophic events...

... on the basis of Karush-Kuhn-Tucker conditions. The rotation age is shown to be unique and to depend on the risk probability but not on producer's risk preferences. A numerical application, using these analytical findings and based on the forestry of maritime pine in southwestern France is conducted...

...Andres Susaeta We extend the Pressler’s indicator rate formula under the generalized Reed model to account for the impacts of current and future stochastic disturbance risk on the current harvesting decision. We prove that that the mathematical framework of the Pressler’s indicator rate holds under...

...Mats Andersson This study relates owner and property characteristics to non-industrial private forest (NIPF) owners’ attitudes to financial risk-takinginforestrydecisions. Using a two-periodmean-variance setting, the harvesting decisions of NIPF owners are examined with the aim of measuring...

... (J. Buongiorno). 14 12 2009 04 03 2011 © 2011 Department of Forest Economics, SLU Umeå, Sweden. Published by Elsevier GmbH. All rights reserved 2011 Department of Forest Economics, SLU Umeå, Sweden. Published by Elsevier GmbH Licensed re-use rights only Economics Risk...

...Colin Price As with financial risk in markets, physical risk (threat or hazard) has sometimes been treated by adding a premium to the discount rate for NPV calculations applied to forestry options. A discount premium reflecting the rate of threat gives the correct rotation for a perpetual...

... that home buyers and sellers appear to revise upward their perceptions of fire risk after a major fire as well possibly reflecting some loss in forest amenity value in the broader geographic area surrounding the unburned town. These factors combine to reduce the desirability of living in the forest...