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Publication Information

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Title: Financial rates of return on shortleaf pine stands in Arkansas between 1978 and 1995

Author: Hartsell, Andrew J.;

Date: 2007

Source: In: Kabrick, John M.; Dey, Daniel C.; Gwaze, David, eds. Shortleaf pine restoration and ecology in the Ozarks: proceedings of a symposium; 2006 November 7-9; Springfield, MO. Gen. Tech. Rep. NRS-P-15. Newtown Square, PA: U.S. Department of Agriculture, Forest Service, Northern Research Station: 186-191.

Publication Series: General Technical Report - Proceedings

   Note: This article is part of a larger document. View the larger document

Description: The objectives of this study are to estimate the annual rate of change in value of Arkansas' shortleaf pine forests using financial maturity concepts and to compare it to the change in other forest types and alternative investment options. Timber Mart-South stumpage price data were combined with inventory data spanning 17 years from the USDA Forest Service, Southern Research Station, Forest Inventory and Analysis (FIA) unit. Two distinct FIA survey periods were utilized, resulting in a study period ranging from 1978 to 1995. The average annual real rate of return on all Arkansas timberland investments during this time frame was 5.8 percent using simple financial maturity and 3.3 percent using adjusted financial maturity. Stands comprising primarily of shortleaf pine outperformed these state averages during this period, averaging 6.5 percent and 3.9 percent annually using simple and adjusted financial maturity models, respectively. Average annual rates of change in value were computed and compared for shortleaf pine and four other forest-type groups. Additionally, comparisons were made between forest type and ecoregion to determine which scenario produced the maximum rate of return. The highest earning shortleaf stands were found in the Arkansas Valley section of the State, with value changes of 8.2 percent per year for the simple fi nancial maturity model and 6.9 percent per year for the adjusted model.

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Citation:


Hartsell, Andrew J. 2007. Financial rates of return on shortleaf pine stands in Arkansas between 1978 and 1995. In: Kabrick, John M.; Dey, Daniel C.; Gwaze, David, eds. Shortleaf pine restoration and ecology in the Ozarks: proceedings of a symposium; 2006 November 7-9; Springfield, MO. Gen. Tech. Rep. NRS-P-15. Newtown Square, PA: U.S. Department of Agriculture, Forest Service, Northern Research Station: 186-191.

 


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