Improvement Of The Evaluation Methods Discount Of Forest Resources Assets Based On Dynamic Discount Rate

In our country,with the deep reform of forest ownership, the forest investment main body present diversity, and the property right of forest resources has changed frequently.The economic behavior of selling, renting, auctioning forest resources assets,and application with loan on mortgage with forest resources assets is more and more. Making exact and reasonable value of forest assets evaluation is the first need of the change of forest resources property right. Forest resources asset appraisal is one of the most important part of forest resources assets evaluation, this paper only make depth research on resources assets evaluation methods. Now the methods which are used commonly are the cost of replacement which is used commonly on the evaluation of saplingforest; The evaluation of mid-maturat-ion forest is usually valued by the present value approach; The value of nearly ripe forest and mature forest are assessmented by market price approach. Although the existing ass-essment methods are already applied so extensive, the growth of trees is a continuous process,so using different evaluation methods according to different stages which is man-made is not accord with the growth rule of trees.Theoretically speaking, three evaluation methods for the same forest resources assessment should be equal, but actual circumstances were not so. The evaluation results that acquired by different evaluation methods about the same forest resources often have big different. This paper mainly aim at improving the cost of replacement and mid-maturation forest present value approach. This paper argues that one of the main reasons for the different results in different appraisal methods is the adopted of fixed discount rate.In fact, the risk of forest fires, diseases and insect pests, illegal felling trees is proportional to the interval distance. Time has certain quantity relationship with risk, and the discount rate has certain quantity relationship with risk, so the discount rate should be a dynamic function about time.The using of dynamic discount rate for forest assets evaluation is according with the growth characteristics of forest.This paper introduced into dynamic discount rate for improving the forest resources assets.,and make Empirical Analysis with the date from fengceng forest. With thecomparison of tradition evaluation methods and the improved methods,the new methods of dynamic discount rate are more rationality.