In order to speed up the production of small-sized thinning wood chips in young stands, the Finnish State provides financial incentives for the production of small-diameter wood chips. Financial support is provided according to the Sustainable Silviculture Foundation Law (Kemera). Currently...

The primary objective of the paper was to analyse how marginalisation affects profit efficiency, a secondary to identify and analyse some other possible inefficiency factors. In order to do this we estimated a translog restricted profit frontier function with an integrated inefficiency module....

This paper deals with rural households’ decision regarding tree planting on farmland in developing countries. This has been the topic of numerous descriptive socio-economic studies. In many cases the findings and claims of these studies are ambiguous, although there is a general agreement...

Increasingly complex social and labor issues are becoming a major concern affecting Chinese companies in their pursuit of a growth and profitability. While disciplinary research has delved into basic facets of job satisfaction, less attention has been given to tackling the applicability of...

A new stochastic efficiency analysis approach, called stochastic efficiency with respect to a function (SERF), that partitions a set of risky alternatives in terms of certainty equivalents (CEs) for a specified range of attitudes to risk, is applied to analyse average optimal rotation strategies...

Real option theory has for some decades been used in forest economics to analyse decision problems which involve irreversible and stochastic decisions. One such decision is when to harvest a stand and with what species to regenerate. The latter decision can be postponed for some time, making a...

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