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Title:

Financial consequences of losing admixed tree species: A new approach to value increased financial risks by ungulate browsing

Author(s):
Clasen, Christian; Griess, Verena C.; Knoke, Thomas
Abstract:
The influence of ungulates on the growth of young trees is amply discussed in forestry literature, particularly game browsing. Although there are a few appraisal methods that consider negative long-term influences on forest regeneration, hitherto no approach has addressed the financial consequences of lost admixed tree species. A homogenised species composition may lead to an increased financial risk of a forest. Based on financial return and risk ratios of mixed forests, this paper derives the...     »
Keywords:
Game browsing; Demixing; Portfolio Theory; Financial risk; Sharpe-Ratio; Compensation
Journal title:
Forest Policy and Economics
Year:
2011
Journal volume:
13
Journal issue:
6
Pages contribution:
503--511
Fulltext / DOI:
doi:10.1016/j.forpol.2011.05.005
Print-ISSN:
1389-9341
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