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Financial Returns from Managing Southern Hardwood Stands for Pulpwood

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Growth functions were developed for eight hardwood forest site types. Net value of these stands was determined by subtracting harvesting costs from mill-delivered value. A "marginalistic" adaption of the Faustmann formula was used to determine financial maturity at three different interest rates. Financial rotation ages ranged from 19 to 26 years at 6 percent interest, and annual return to the site ranged from $0.63 to $2.02 per acre. These returns yielded after tax rates of return from 1.57 to 3.96 percent on investment in both timber and land.

Document Type: Journal Article

Affiliations: Doctoral Candidate in Forest Economics, Yale University, New Haven, Conn. Research based on Master thesis Submitted to the Sch. of Forest Resources, North Carolina State University, Raleigh

Publication date: October 1, 1972

More about this publication?
  • The Journal of Forestry is the most widely circulated scholarly forestry journal in the world. In print since 1902, the Journal has received several national awards for excellence. The mission of the Journal of Forestry is to advance the profession of forestry by keeping forest management professionals informed about significant developments and ideas in the many facets of forestry: economics, education and communication, entomology and pathology, fire, forest ecology, geospatial technologies, history, international forestry, measurements, policy, recreation, silviculture, social sciences, soils and hydrology, urban and community forestry, utilization and engineering, and wildlife management. The Journal is published bimonthly: January, March, May, July, September, and November.
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