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本文将人工林抚育间伐视为森林经营中的一个项目投资决策,提出了三种用于项目投资决策的现金流量贴现分析方法。现金流量分析法通常属于事后财务评价,但通过林分生长收获预估以及有关经济指标的预测,在实践中用于事前投资决策分析是完全可行的。
This paper considers the thinning of plantations as a project investment decision in forest management and puts forward three methods of discounted cash flow analysis for project investment decision-making. The cash flow analysis usually belongs to the ex-post financial evaluation. However, it is feasible to make an ex-an investment decision analysis in practice by estimating the growth of the stand and the forecast of relevant economic indicators.