Relevant bibliographies by topics / Land Expectation Value (LEV)

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Academic literature on the topic 'Land Expectation Value (LEV)'

Author: Grafiati
Published: 4 June 2021
Last updated: 1 February 2022

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Journal articles on the topic "Land Expectation Value (LEV)"

1

Heshmatol Vaezin, S. M., J. L. Peyron, and F. Lecocq. "A simple generalization of the Faustmann formula to tree level." Canadian Journal of Forest Research 39, no. 4 (April 2009): 699–711. http://dx.doi.org/10.1139/x08-202.

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The economic decision model serving as an objective function in forest economics was conceived originally by Faustmann at the stand level. Nevertheless, the tree level seems to be an appropriate scale for analysis, especially for harvesting decisions and certain estimations both at tree and stand levels. However, the Faustmann formula cannot be directly applied to the tree level. The present research has provided certain tree-level formulations of the Faustmann formula, including, in particular, tree expectation value (TEV) and land expectation value (LEV). TEV and tree-level LEV formulas were developed by analyzing the Faustmann formula under deterministic conditions. Unlike previous tree-level decision models presented in the forest economics literature, TEV and tree-level LEV formulas incorporate the expectation value of the land occupied by trees and its variability over time as well as the interaction between trees and their trajectories (cutting age). The proposed formulas were then compared with the Faustmann formula using the first-order condition of optimal harvest age. The TEV and tree-level LEV formulas appeared to be absolutely compatible with the Faustmann formula. The utility of the proposed formulas was then illustrated with application examples, including target diameter, stand expectation value, TEV, LEV, and the value of damage to beech trees or stands in northeastern France.
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Susaeta, Andres, and Chris Demers. "What is the Value of an Existing Forest Stand?" EDIS 2019, no. 6 (December 2, 2019): 3. http://dx.doi.org/10.32473/edis-fr423-2019.

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Traditionally, the land expectation value (LEV) formula, the present value of perpetual cash inflows of timber revenues minus the present value of cash outflows of costs, has been employed as the main indicator of the value of a forest investment. However, when a forest stand is already established, the LEV approach is incomplete because it applies only to bare land. Thus, it is necessary to determine the value of a property with an existing forest stand. This 3-page fact sheet written by Andres Susaeta and Chris Demers and published by the UF/IFAS School of Forest Resources and Conservation provides the formula to determine the value of an already established forest stand at any stage of its development. This approach, known as the forest value formula, includes the value of the timber and the land. It can be used to compare the value of the stand when it is immediately harvested or when it is economically immature. http://edis.ifas.ufl.edu/fr423
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Busby, Rodney L., James H. Miller, and M. Boyd Edwards. "Economics of Site Preparation and Release Treatments Using Herbicides in Central Georgia." Southern Journal of Applied Forestry 22, no. 3 (August 1, 1998): 156–62. http://dx.doi.org/10.1093/sjaf/22.3.156.

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Abstract Land expectation values (LEV) of site preparation and release treatments using herbicides in central Georgia are calculated and compared. Loblolly pine growth and hardwood competition levels were measured at age 6 for the site preparation treatments and age 8 for the release treatments. These measurements were projected to final harvest using the North Carolina State University growth and yield simulator. On six directly comparable sites, site preparation improved land expectation values more than release. When the most profitable treatments on each site were compared, site preparation LEVs (after tax) were more than twice as profitable as release ($403 vs. $188/ac). Velpar L¹ and Pronone 10G herbicide treatments increased the land expectation value most for site preparation. Arsenal AC and Velpar L provided the highest returns among the herbicides tested for release. South. J. Appl. For. 22(3):156-162.
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Husak, Amanda L., and Stephen C. Grado. "Monetary Benefits in a Southern Silvopastoral System." Southern Journal of Applied Forestry 26, no. 3 (August 1, 2002): 159–64. http://dx.doi.org/10.1093/sjaf/26.3.159.

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Abstract In many regions of the United States, agroforestry has become an important land use alternative. In the South, silvopasture, which combines spatial and temporal growth of timber and livestock, is the most common form of agroforestry. An economic analysis was undertaken to demonstrate the monetary and wildlife benefits that can be accrued from a silvopastoral system in the southern United States. Wildlife-related activities as well as annual and periodic cash flows from timber and livestock sales were included in the analysis. Land expectation value (LEV), equivalent annual income (EAI), and rate of return (ROR) were compared for a silvopastoral system and four traditional southern monocultural systems. The profitability of silvopastoral systems is comparable to other land use systems. Silvopasture further provides opportunities for incorporating wildlife-related activities through hunting leases and possesses both quality and quantity of wildlife habitat not available in other systems. On average, the inclusion of hunting leases increases LEVs from 3.1 to 30.6% per acre over a range of lease and interest rates. Finally, results of this and other studies suggest that silvopasture is an environmentally and economically feasible alternative to traditional land uses. South.J. Appl. For. 26(3):159–164.
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Utsugi, Hajime, and Hirofumi Kuboyama. "Management Decision Criteria for Forestry Based on Land Expectation Value (LEV) in Terms of Mean Annual Increment (MAI) of Plantation Forests." Journal of the Japanese Forest Society 103, no. 3 (June 1, 2021): 200–206. http://dx.doi.org/10.4005/jjfs.103.200.

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McConnell, T. Eric, Michael K. Crosby, Jason J. Holderieath, and Curtis L. VanderSchaaf. "Financial Assessment of Future Stand Conditions Required to Recover the Opportunity Costs of a North Louisiana Streamside Management Zone." Forest Products Journal 70, no. 1 (January 1, 2020): 39–49. http://dx.doi.org/10.13073/fpj-d-19-00040.

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Abstract Understanding the costs that residual habitat spaces carry into future rotations can provide managers more complete information when financially assessing timber management options that often extend for many decades. This case study assessed a streamside management zone's (SMZ) opportunity costs for a timber harvest site in north Louisiana. Timber removal occurred in summer 2018 by clearcut. A wooded buffer extending 50 feet on each side of a streambank and totaling 7.52 acres was retained; partial harvesting of pine timber was allowed. A timber inventory revealed that 99.6 tons per acre of standing hardwoods resided within the SMZ. Excluding noncommercial species placed its current present value (opportunity cost) at $1,803. Two future active management scenarios, “controlled” and “intensive,” were modeled over the next rotation at a 4 percent real discount rate, where price changes occurred at 0, 1, 2, 3, and 4 percent annually. Both management strategies consistently produced positive land expectation values (LEV) when SMZ opportunity costs were not included in the assessment. However, inclusion of SMZ protection under “controlled” management required timber price changes of 4 percent annually, while the “intensive” management option required timber price changes of at least 3 percent annually to return positive LEVs.
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Ramírez, Laura, Sergio A. Orrego, and Héctor I. Restrepo. "Financial analysis of potential Pinus patula plantations in Antioquia, Colombia." Revista Facultad Nacional de Agronomía Medellín 73, no. 2 (May 1, 2020): 9227–42. http://dx.doi.org/10.15446/rfnam.v73n2.82833.

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The establishment of commercial forest plantations requires the selection of sites where reasonable profitability can be attained. A financial analysis was made for the identification of the most suitable areas for the establishment of new Pinus patula plantations in the central region of Antioquia, Colombia. The analysis was performed assuming basic silvicultural treatments at the establishment but no management during the entire rotation period. A volume yield data at the stand level was obtained from a previously fitted model that uses biophysical variables and stand density as predictors. The estimated stand volume, a detailed cash flow, and a derived stumpage price were combined to perform a financial analysis. The Land Expectation Value (LEV) and Internal Rate of Return (IRR) at the optimal rotation age, along with their spatial variation, were calculated in this study. Results suggest that the estimated volume and the current stumpage price are not sufficient to guarantee reasonable profitability for new timberland investments. While the LEV was negative, the IRR was in the range 4.1±1.5%, which is less than the discount rate of 6.8% used in the financial analysis. However, a positive LEV and an IRR at 8% would be achieved if forest productivity increases by 20% because of silvicultural practices or costs reduction in a similar proportion (obtaining IRRs up to 8.4%). Moreover, if the government provide subsidies, the IRR would increase up to 10.3% (without requiring an increase in productivity or a decrease in costs) on sites with high growth potential (mean annual increment greater than 16 m3 ha-1 year-1), and close to the mills (less than 45 km radii).
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Baral, Srijana, Yanshu Li, and Bin Mei. "Financial Effects of the 2017 Tax Cuts and Jobs Act on Nonindustrial Private Forest Landowners: A Comparative Study for 10 Southern States of the United States." Journal of Forestry 118, no. 6 (August 11, 2020): 584–97. http://dx.doi.org/10.1093/jofore/fvaa032.

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Abstract Changes in tax codes applicable to timberland investments can affect tax treatment of timber revenues and expenses. The 2017 Tax Cuts and Jobs Act (TCJA) is regarded as the most expansive overhaul of tax codes in the United States since 1986; however, our understanding of its effects on timberland investments for family forest owners has yet to be explored. Using the discounted cash-flow method, we estimated and compared effects of TCJA on land expectation value (LEV) and net tax from managing timberland for two classifications of median-income family forest owners in 10 southern states. Results showed a decrease in LEV and net tax for both material participants and investors, with a greater effect on landowners managing timberland as investments. Thus, owning timberland can become less beneficial under the current law for median-income family forest landowners. Study Implications: Family forests occupy a large portion of the total forest area in the United States and provide various goods and services to society. Taxes and tax policies are regarded as important issues for these landowners because policies could ultimately influence timberland investment, ownership structure, and management activities. After the 2017 tax reform, landowners became concerned about the effect of the new act on profitability and financial return from timberland investment. Here, we attempt to provide a better understanding of tax effects by estimating change in net benefit of owning and managing timberland under the current law compared with the previous law in 10 southern states. For policymakers, this study can provide insight into the importance of considering unique characteristics of timberland investment during the tax policy design and evaluation process. For landowners, this study can facilitate the timberland investment decisionmaking process and serve as a guide to the effects of the new tax rules on returns.
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Roth, Tobias, Lukas Kohli, Christoph Bühler, Beat Rihm, Reto Giulio Meuli, Reto Meier, and Valentin Amrhein. "Species turnover reveals hidden effects of decreasing nitrogen deposition in mountain hay meadows." PeerJ 7 (February 6, 2019): e6347. http://dx.doi.org/10.7717/peerj.6347.

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Nitrogen (N) deposition is a major threat to biodiversity in many habitats. The recent introduction of cleaner technologies in Switzerland has led to a reduction in the emissions of nitrogen oxides, with a consequent decrease in N deposition. We examined different drivers of plant community change, that is, N deposition, climate warming, and land-use change, in Swiss mountain hay meadows, using data from the Swiss biodiversity monitoring program. We compared indicator values of species that disappeared from or colonized a site (species turnover) with the indicator values of randomly chosen species from the same site. While oligotrophic plant species were more likely to colonize, compared to random expectation, we found only weak shifts in plant community composition. In particular, the average nutrient value of plant communities remained stable over time (2003–2017). We found the largest deviations from random expectation in the nutrient values of colonizing species, suggesting that N deposition or other factors that change the nutrient content of soils were important drivers of the species composition change over the last 15 years in Swiss mountain hay meadows. In addition, we observed an overall replacement of species with lower indicator values for temperature with species with higher values. Apparently, the community effects of the replacement of eutrophic species with oligotrophic species was outweighed by climate warming. Our results add to the increasing evidence that plant communities in changing environments may be relatively stable regarding average species richness or average indicator values, but that this apparent stability is often accompanied by a marked turnover of species.
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Rondhi, Mohammad, Pravitasari Pratiwi, Vivi Handini, Aryo Sunartomo, and Subhan Budiman. "Agricultural Land Conversion, Land Economic Value, and Sustainable Agriculture: A Case Study in East Java, Indonesia." Land 7, no. 4 (November 30, 2018): 148. http://dx.doi.org/10.3390/land7040148.

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Agricultural land conversion (ALC) is an incentive-driven process. In this paper, we further investigate the inter-relationship between land economic value (LEV) and ALC. To achieve this goal, we calculated the LEV for agricultural and non-agricultural (housing) uses in two areas of East Java, Indonesia. The first area represents peri-urban agriculture, which is facing rapid urbanization and experiencing a high rate of ALC. The second area represents rural agriculture, with zero ALC. Furthermore, we identified factors affecting LEV in both areas for both uses. The results of this study show that agricultural land yielded a higher economic benefit in rural areas. Conversely, compared to agricultural land, housing in urban areas yields a value that is seven times higher. Moreover, agricultural land was shown to yield a higher profit after conversion. Ironically, a similar comparison does not exist in rural areas. Agricultural land yielded a value that was only 19% higher, indicating that agricultural land can easily be converted. This is also proven by the growing number of new urban cores in the periphery area. There are several factors affecting land economic value, such as agricultural use, soil fertility, accessibility, and cropping pattern, which are important variables. Meanwhile, the accessibility and location of peri-urban areas increase the land value for housing.
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Dissertations / Theses on the topic "Land Expectation Value (LEV)"

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Cunningham, Russell Andrew. "EFFECTS OF REGENERATION OPENING SIZE AND SIMULATED CROP TREE RELEASE ON VOLUME YIELDS AND ECONOMIC VALUE IN OAK-DOMINATED STANDS." UKnowledge, 2014. http://uknowledge.uky.edu/forestry_etds/19.

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Patch clearcutting can be put to effective use for landowners with relatively small stands of timber. This project was designed to determine how clearcut opening size and mid-rotation crop tree release affects the value and volume of sawtimber at the end of rotation. In 1960 patch clearcuts were established in three different diameters, 50ft (.05ac), 150ft (.41ac), and 250ft (1.13ac). Current stand data (2011) was collected to determine trees per acre, basal area, average tree diameter, volume, and value. These data were input into a growth simulator to determine future trees per acre, basal area, average tree diameter, volume, and value with a crop tree release treatment and a control to 2061. The 50ft openings yielded little merchantable volume at mid-rotation and were primarily composed by shade tolerant species. In the 150ft and 250ft openings, there was better species diversity and an increase in sawtimber volume and value. Using openings of 150ft or greater, landowners can regenerate commercially important species and manage their forests to produce valued timber and maintain aesthetics.
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Sartori, Pedro J. "The Economics of management effort in planted forests: an empirical analysis of fertilization and thinning prescriptions of Pinus taeda in the US South." Thesis, Virginia Tech, 2021. http://hdl.handle.net/10919/102348.

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If a landowner‘s main objective is to maximize his/her profits from planted forest investments, questions such as when and where exactly they should fertilize, thin and clearcut must be answered. We take advantage of an experiment established in 5 different states in the US South. Forest inventory data was collected for different combinations of thinning densities where some of them received fertilization. We use the Land Expectation Value methodology where our assumptions are the infinite amount of Pine rotations while costs and stumpage prices are known and constant, and markets are perfect. One of the main results we found is that fertilization has a decreasing marginal benefit on site index quality.
M.S.
If the landowner‘s main objective is to maximize profit from forest investments, questions such as when and where they should fertilize, thin and clearcut must be answered. Fertilization‘s main objective is to provide essential nutrients for tree growth. Thinnings have two main objectives: a source of revenue in the middle of the forest rotation by selling the thinned trees and secondly to open space to the residual trees so they grown in diameter and gain value. We analyze how thinning and fertilization impact forest management from an economic perspective by checking their benefits and costs to landowners. We found that for low site index, fertilization has a positive impact in the sense its benefit is greater than the fertilization application cost. For better site indices, the opposite is true. For those who want to maximize economic benefits from planted forests. we end up with recommendations of which type of thinning and fertilization should be done according to the landowner site quality.
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Aggett, Jonathan Edward. "Financial Analysis of Restoring Sustainable Forests on Appalachian Mined Lands for Wood Products, Renewable Energy, Carbon Sequestration, and Other Ecosystem Services." Thesis, Virginia Tech, 2003. http://hdl.handle.net/10919/36096.

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Public Law 95-87, the Surface Mining Control and Reclamation Act of 1977 (SMCRA), mandates that mined land be reclaimed in a fashion that renders the land at least as productive after mining as it was before mining. In the central Appalachian region, where prime farmland and economic development opportunities for mined land are scarce, the most practical land use choices are hayland/pasture, wildlife habitat, or forest land. Since 1977, the majority of mined land has been reclaimed as hayland/pasture or wildlife habitat, which is less expensive to reclaim than forest land, since there are no tree planting costs. As a result, there are now hundreds of thousands of hectares of grasslands and scrublands in various stages of natural succession located throughout otherwise forested mountains in the U.S. The purpose of this study is to develop a framework for understanding/calculating the economic implications of converting these reclaimed mined lands to forests under various silvicultural regimes, and to demonstrate the economic/decision-making implications of an incentive scheme on such a land use conversion. The economic feasibility of a range of land-use conversion scenarios was analyzed for both mixed hardwoods and white pine, under a set of low product prices and under a set of high product prices. Economic feasibility was based on land expectation values. Further, three types of incentive schemes were investigated: 1) lump sum payment at planting (and equivalent series of annual payments), 2) revenue incentive at harvest and 3) payment based on carbon volume.

Mixed hardwood LEVs ranged from -$2416.71/ha (low prices) to $3955.72/ha (high prices). White pine LEVs ranged from -$2330.43/ha (low prices) to $3746.65/ha (high prices). A greater percentage of white pine scenarios yielded economically feasible land-use conversions than did the mixed hardwood scenarios, and it seems that a conversion to white pine forests would, for the most part, be the more appealing option. It seems that, for both mixed hardwoods and white pine, it would be in the best interests of the landowner to invest in the highest quality sites first. For a conversion to mixed hardwood forests, a low intensity level of site preparation seems economically optimal for most scenarios. For a conversion to white pine forests, a medium intensity level of site preparation seems economically optimal for most scenarios.

Mixed hardwoods lump sum payments, made at the time of planting, ranged from $0/ha to $2416.71/ha (low prices). White pine lump sum payments, made at the time of planting, ranged from $0/ha to $2330.53/ha (low prices). Mixed hardwoods benefits based on an increase in revenue at harvest, ranged from $0/ha to $784449.52/ha (low prices). White pine benefits based on an increase in revenue at harvest ranged from $0/ha to $7011.48/ha (high prices). Annual mixed hardwood benefits, based on total stand carbon volume present at the end of a given year, ranged from $0/ton of carbon to $5.26/ton carbon (low prices). White pine benefits based on carbon volume ranged from $0/ton of carbon to $18.61/ton of carbon (high prices). It appears that, for white pine scenarios, there is not much difference between incentive values for lump sum payments at planting, revenue incentives at harvest, and total carbon payments over a rotation. For mixed hardwoods, however, it appears that the carbon payment incentive is by far the cheapest option of encouraging landowners to convert land.
Master of Science

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K, C. Birendra. "SOCIO-ECONOMIC STUDY OF COMMUNITY FORESTS IN MID HILLS REGION OF NEPAL." UKnowledge, 2012. http://uknowledge.uky.edu/forestry_etds/8.

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This research looks at some issues confronting community forestry in Nepal. Analytic Hierarchy Process (AHP) was used to analyze the issues confronting community forestry in mid hills region of Nepal. Results indicate that experts as well as local community users think positive aspects of community forestry to be more important than its negative aspects. In addition, through the comparison of three forest types, Alnus nepalensis found to be the most important forest type for conservation and Schima-Castanopsis to be the most important forest type for local benefits. Similarly, results also indicate that increase in carbon prices lengthen an optimal rotation age. Also, Land Expectation Value (LEV) increases substantially with the increase in carbon prices.
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Shrestha, Prativa. "CARBON LIFE-CYCLE AND ECONOMIC ANALYSIS OF FOREST CARBON SEQUESTRATION AND WOODY BIOENERGY PRODUCTION." UKnowledge, 2013. http://uknowledge.uky.edu/forestry_etds/14.

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Sequestering carbon in standing biomass, using woody bioenergy, and using woody products are the three potential ways to utilize forests in reducing greenhouse gases (GHGs) and mitigating climate change. These forestry related strategies are, however, greatly influenced by the existing markets and market based policies. This study focuses on the first two forest strategies. It investigates the combined impact of carbon and woody bioenergy markets on two different types of forests in the US – oak dominated mixed hardwood forests in the Central Hardwood Forests Region and loblolly pine forests in the southeastern US. A modification of the Harman model was used for the economic analysis of carbon sequestration and harvesting woody biomass for bioenergy. A forest carbon life-cycle assessment was used to determine the carbon emissions associated with management of forests and harvesting of wood products. Results from this study indicate that carbon payments and woody bioenergy production increase the land expectation value (LEV) for both forest types.
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Cushing, Tamara L. "A comparison of the relative reduction in land expectation value due to taxation of private forest land in the United States." 2006. http://purl.galileo.usg.edu/uga%5Fetd/cushing%5Ftamara%5Fl%5F200612%5Fphd.

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Book chapters on the topic "Land Expectation Value (LEV)"

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Nijs, Luc. "Farmland III: Land-Expectation Value and Timberland Valuation." In The Handbook of Global Agricultural Markets, 245–73. London: Palgrave Macmillan UK, 2014. http://dx.doi.org/10.1057/9781137302342_10.

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Zhang, Yaoqi, and Suman Majumdar. "Land Expectation Value to Profit Maximization: Re-Examination of the Faustmann Formula." In Post-Faustmann Forest Resource Economics, 277–87. Dordrecht: Springer Netherlands, 2013. http://dx.doi.org/10.1007/978-94-007-5778-3_13.

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