A modified production possibility frontier for efficient forestry management under the New Zealand Emissions Trading Scheme

Valuation of Carbon Forestry and the New Zealand Emissions Trading Scheme: A Real Options Approach Using the Binomial Tree Method

Under the New Zealand Emissions Trading Scheme, forests planted on or after 1 January 1990 earn carbon credits. These credits have to be repaid when the forest is harvested. This paper analyses the effects of this scheme on the value of bareland on which radiata pine is to be planted. A real options method is developed and applied, assuming stochastic carbon and timber prices. We find that land...

Emissions trading and the management accountant - lessons from the UK emissions trading scheme

The Value Relevance of Greenhouse Gas Emissions under the European Union Carbon Emissions Trading Scheme

This study examines the valuation relevance of greenhouse gas emissions under the European Union Carbon Emission Trading Scheme (EU ETS). We posit that carbon emissions affect firm valuation only to the extent that a firm’s emissions exceed its carbon allowances under a cap and trade system and the extent of its inability to pass on carbon related compliance costs to consumers and end users. We...

A new methodology for deriving the efficient frontier of stocks portfolios: An advanced risk-return model

In this paper after a general literature review on the concept of Efficient Frontier (EF), an important inadequacy of the Variance based models for deriving EFs and the high necessity for applying another risk measure is exemplified. In this regard for this study the risk measure of Lower Partial Moment of the first order is decided to replace Variance. Because of the particular shape of the pr...

Data Visualisation for New Zealand Forestry

The New Zealand Resource Management Act emphasises, among other things, the evaluation of the effects of forestry operations, and the inclusion of those affected into the decision making process. Visual images are a useful method for displaying the effects of planned forestry activities, and are easily understood by most of the general public. While the creation of fully accurate photo-realisti...