haku: @author Conroy, R. / yhteensä: 3
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| Tekijä: | Conroy, R. Miles, M. |
| Otsikko: | Commercial forestland in the pension portfolio: The biological beta. |
| Lehti: | Financial Analysts' Journal
1989 : SEP/OCT, VOL. 45:5, p. 46-54 |
| Asiasana: | PENSION FUNDS PORTFOLIO MANAGEMENT INSTITUTIONAL INVESTORS FOREST ECONOMICS RETURN ON INVESTMENT USA |
| Kieli: | eng |
| Tiivistelmä: | Study of the risk/return profile of US commercial forestland in the pension asset allocation process, compared to stocks, bonds and Treasury bills. Portfolio theory. Calculation of commercial forestland returns, methods and data. Harvest strategy, prices and costs. Timber returns. Advantage of the biological beta. Comparison with other asset classes. Nine Tables and a Figure illustrate the analysis covering stumpage zones; per-acre product volumes; harvest cycle; annual prices; operating costs; land values; mean variance analysis; returns to timber portfolio; and asset class comparison. |
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