IDEAS home Printed from https://ideas.repec.org/a/caa/jnljfs/v62y2016i3id88-2015-jfs.html
   My bibliography  Save this article

The assessment of forestry companies in the Czech Republic with focus on profitability

Author

Listed:
  • M. Levá

    (Department of Trade and Accounting, Faculty of Economics and Management, Czech University of Life Sciences Prague, Prague, Czech Republic)

  • H. Čermáková

    (Department of Trade and Accounting, Faculty of Economics and Management, Czech University of Life Sciences Prague, Prague, Czech Republic)

  • M. Stárová

    (Department of Trade and Accounting, Faculty of Economics and Management, Czech University of Life Sciences Prague, Prague, Czech Republic)

  • H. Vostrovská

    (Department of Trade and Accounting, Faculty of Economics and Management, Czech University of Life Sciences Prague, Prague, Czech Republic)

Abstract

The paper deals with the evaluation of economy of forestry companies. The evaluation stems from the results of economic analyses of enterprises that are further monitored in the context of forestry and development of economic financial ratios of evaluated companies. Furthermore, the evaluation is based on real possibilities of companies stemming from resources which they have at their disposal and on the facts that occurred in the selected companies in the monitored period. The development of important factors influencing the whole branch of forestry and their real state are introduced in the first part of the paper. After that, methods used in financial analysis of enterprises are described. The fact that forest land in the Czech Republic covered 2.66 million hectares in 2014 and its proportion in the total area of the country is 34% adds importance to the topic (Czech Statistical Yearbook 2015).

Suggested Citation

  • M. Levá & H. Čermáková & M. Stárová & H. Vostrovská, 2016. "The assessment of forestry companies in the Czech Republic with focus on profitability," Journal of Forest Science, Czech Academy of Agricultural Sciences, vol. 62(3), pages 116-125.
    • Handle: RePEc:caa:jnljfs:v:62:y:2016:i:3:id:88-2015-jfs
    DOI: 10.17221/88/2015-JFS
    as

    Download full text from publisher

    File URL: http://jfs.agriculturejournals.cz/doi/10.17221/88/2015-JFS.html
    Download Restriction: free of charge
    File URL: http://jfs.agriculturejournals.cz/doi/10.17221/88/2015-JFS.pdf
    Download Restriction: free of charge
    File URL: https://libkey.io/10.17221/88/2015-JFS?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Hildebrandt, Patrick & Knoke, Thomas, 2011. "Investment decisions under uncertainty--A methodological review on forest science studies," Forest Policy and Economics, Elsevier, vol. 13(1), pages 1-15, January.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Helena Gaspars-Wieloch, 2017. "Newsvendor problem under complete uncertainty: a case of innovative products," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 25(3), pages 561-585, September.
    2. Ben-Haim, Yakov & Demertzis, Maria, 2016. "Decision making in times of Knightian uncertainty: An info-gap perspective," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 10, pages 1-30.
    3. Susanne Neuner & Thomas Knoke, 2017. "Economic consequences of altered survival of mixed or pure Norway spruce under a dryer and warmer climate," Climatic Change, Springer, vol. 140(3), pages 519-531, February.
    4. Hauk, Sebastian & Knoke, Thomas & Wittkopf, Stefan, 2014. "Economic evaluation of short rotation coppice systems for energy from biomass—A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 29(C), pages 435-448.
    5. Chang, Sun Joseph & Zhang, Fan, 2023. "Active timber management by outsourcing stumpage price uncertainty with the American put option," Forest Policy and Economics, Elsevier, vol. 154(C).
    6. Simone Severini & Cinzia Zinnanti & Valeria Borsellino & Emanuele Schimmenti, 2021. "EU income stabilization tool: potential impacts, financial sustainability and farmer’s risk aversion," Agricultural and Food Economics, Springer;Italian Society of Agricultural Economics (SIDEA), vol. 9(1), pages 1-21, December.
    7. Luz Maria Castro & Baltazar Calvas & Thomas Knoke, 2015. "Ecuadorian Banana Farms Should Consider Organic Banana with Low Price Risks in Their Land-Use Portfolios," PLOS ONE, Public Library of Science, vol. 10(3), pages 1-23, March.
    8. Bernetti, Iacopo & Ciampi, Christian & Fagarazzi, Claudio & Sacchelli, Sandro, 2011. "The evaluation of forest crop damages due to climate change. An application of Dempster-Shafer method," Journal of Forest Economics, Elsevier, vol. 17(3), pages 285-297, August.
    9. Darnhofer, Ika, 2021. "Resilience or how do we enable agricultural systems to ride the waves of unexpected change?," Agricultural Systems, Elsevier, vol. 187(C).
    10. Luz Maria Castro & Fabian Härtl & Santiago Ochoa & Baltazar Calvas & Leonardo Izquierdo & Thomas Knoke, 2018. "Integrated bio-economic models as tools to support land-use decision making: a review of potential and limitations," Journal of Bioeconomics, Springer, vol. 20(2), pages 183-211, July.
    11. Di Corato, Luca & Gazheli, Ardjan & Lagerkvist, Carl-Johan, 2013. "Investing in energy forestry under uncertainty," Forest Policy and Economics, Elsevier, vol. 34(C), pages 56-64.
    12. Mei, Bin, 2019. "Timberland investments in the United States: A review and prospects," Forest Policy and Economics, Elsevier, vol. 109(C).
    13. Del Río San José, Jorge & Reque Kilchenmann, José & Martínez De Azagra Paredes, Andrés, 2018. "To replant or to irrigate: A silvicultural decision model for afforestation projects," Forest Policy and Economics, Elsevier, vol. 93(C), pages 18-29.
    14. Gomes, Vanessa de Souza & Monti, Cássio Augusto Ussi & Silva, Carolina Souza Jarochinski e & Gomide, Lucas Rezende, 2021. "Operational harvest planning under forest road maintenance uncertainty," Forest Policy and Economics, Elsevier, vol. 131(C).
    15. Chudy, R.P. & Chudy, K.A. & Kanieski da Silva, B. & Cubbage, F.W. & Rubilar, R. & Lord, R., 2020. "Profitability and risk sources in global timberland investments," Forest Policy and Economics, Elsevier, vol. 111(C).
    16. Sauter, Philipp A. & Mußhoff, Oliver & Möhring, Bernhard & Wilhelm, Stefan, 2016. "Faustmann vs. real options theory – An experimental investigation of foresters’ harvesting decisions," Journal of Forest Economics, Elsevier, vol. 24(C), pages 1-20.
    17. Mansuy, Nicolas & Thiffault, Evelyne & Lemieux, Sébastien & Manka, Francis & Paré, David & Lebel, Luc, 2015. "Sustainable biomass supply chains from salvage logging of fire-killed stands: A case study for wood pellet production in eastern Canada," Applied Energy, Elsevier, vol. 154(C), pages 62-73.
    18. Grilli, Gianluca & Jonkisz, Jaroslaw & Ciolli, Marco & Lesinski, Jerzy, 2016. "Mixed forests and ecosystem services: Investigating stakeholders' perceptions in a case study in the Polish Carpathians," Forest Policy and Economics, Elsevier, vol. 66(C), pages 11-17.
    19. Couture, Stéphane & Cros, Marie-Josée & Sabbadin, Régis, 2016. "Risk aversion and optimal management of an uneven-aged forest under risk of windthrow: A Markov decision process approach," Journal of Forest Economics, Elsevier, vol. 25(C), pages 94-114.
    20. Wan, Yang & Clutter, Michael L. & Mei, Bin & Siry, Jacek P., 2015. "Assessing the role of U.S. timberland assets in a mixed portfolio under the mean-conditional value at risk framework," Forest Policy and Economics, Elsevier, vol. 50(C), pages 118-126.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:caa:jnljfs:v:62:y:2016:i:3:id:88-2015-jfs. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ivo Andrle (email available below). General contact details of provider: https://www.cazv.cz/en/home/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.