Image of Leasing Services as a Factor of Increased Investment Activity in Transition Countries
DOI:
https://doi.org/10.54652/rsf.2009.v39.i2.163Keywords:
Leasing service, forestry, financing, equipment, investment activityAbstract
UDK 630*6/.8(497.6)
The results of this analysis show that Forest Management Companies (FMCs) in the Federation of B-H, obtain 80% of their revenues from wood assortments production. Only 20% of their revenues come from non-wood forest products and other sources. This clearly points out that forestry in the Federation of B-H is not based on the principles of multifunctional management of forest resources.
Having in mind the differences in production conditions among Forest Management Companies (FMCs), the structure of their costs varies also. For instance, the share of labour costs in different FMCs varies between 27,7% and 51,5%. As concerns the costs of utilization as well as the costs of biological reproduction, there are also significant differences. These differences are not caused merely by different production conditions but also by the way how the specific types of costs are calculated. The financial assets allocated for biological reproduction amount 14,5% of realized revenue what is less then the legally prescribed minimal rate.
The different cost and revenue structure has direct implications on Forest Management Companies’ business results but also to their accumulative and reproductive capabilities. Current planning of biological investments is mainly based on Forest Management Companies’ financial possibilities. As they are not planed according to the real need, such a forest investment policy is not sustainable. The implications on forest resources might be very serious and this is what the Federation of B-H as the owner should take into account.
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