Investments in timberland: investors\' strategies and economic perspective in Brazil

• Ano de defesa: 2013
• Autor(a) principal: Silva, Bruno Kanieski da
• Tipo de documento: Dissertação
• Tipo de acesso: Acesso aberto
• Idioma: eng
• Instituição de defesa: Biblioteca Digitais de Teses e Dissertações da USP
• Palavras-chave em Português: Análise de ativos florestais; Análise de investimento; Avaliação de projetos; Forest assets analysis; Investment analysis; Preço de terra florestal; Project analysis; Rate of return; Risco; Taxa de retorno; Timberland price; TIMO
• Link de acesso: http://www.teses.usp.br/teses/disponiveis/11/11150/tde-29052013-172813/

Forest plantations provide essential services for human beings. More recently, population and economic growth has increasingly intensified the demand for forest products. Forest activities are expanding to new areas due to low land prices and governmental incentives in Brazil. Among others; Timberland Investment Management Organizations (TIMOs) are the type of invertors that have significantly increased their participation in the timberland market. The purpose of this thesis is to investigate investor\'s strategies and the mains aspects related to forest investments in Brazil. The thesis is divided into two chapters. The first chapter investigates the strategies used by TIMOs in Brazil and their declared expectations on returns. The second chapter offers a comprehensive analysis of the level and variability of the return rate for three different regions in Brazil.