The Research On The Asset Portfolio Of Forestry Management Under The Ecological Compensation Mechanism

With the global ecological environment worsening day by day,people pay more and more attention to the forest ecological service function in order to improve the ecological environment.Forest ecological services rely on the carrier of forest resources,forest resources as a public product has a typical externality,which can easily lead to "free riding" and "tragedy of the commons" phenomenon.Therefore,ecological compensation,as an economic means of ecological environment protection,can effectively achieve the purpose of encouraging people to protect the ecological environment.China's forestry management has entered a new stage of sustainable development,and ecological compensation has expanded the income of forestry management from a single form to a variety of forms.At the same time,ecological compensation will lead to the opportunity cost of delayed logging.How to reasonably cut trees and allocate assets under the condition of satisfying the ecological compensation will be the urgent problem to be solved in the future of forestry management.At present,the implementation of China's forest ecological compensation policy is restricted to logging or logging only as public welfare forests and public welfare forests.However,in developed countries,such as Norway and Finland,under the premise of forest privatization,they have two-way choice of ecological compensation and forestry management.Therefore,from a long-term perspective,it is of far-reaching significance for China to study the asset portfolio of forestry management under the ecological compensation mechanism.Based on this,this article from the existing theories and methods,the introduction of portfolio theory,the constraint conditions of the ecological compensation mechanism,constructing the portfolio theory model for simulation research on forestry management portfolio,and ecological compensation policy formulation and adjustment suggestions and reference and decision making of forest management is put forward.This paper mainly uses the modern portfolio theory,by using literature method,questionnaire survey method,data analysis method,model method and sensitivity analysis method,the asset management of forestry ecological compensation mechanism under the combination of related research.Through the research on the theory of ecological compensation,ecological compensation obtained has a certain price standard,and ecological compensation variable change will cause people,behavior change,and then on the forestry business portfolio is studied,and expounds the connotation of forestry management portfolio selection and investment tools.After using the forestry business portfolio model obtained in the existing ecological compensation standard is 7 yuan/mu of the optimal portfolio,including forestry business accounted for 76.21%,bonds accounted for 11.92%,accounting for 2.81%of shares,bank deposits accounted for 9.05%.The sensitivity analysis of the ecological compensation standard and risk aversion coefficient is made.The simulation results show that the proportion of the optimal portfolio of forestry management is affected by the changes of these two factors.Finally,the paper puts forward policy and management suggestions from three aspects:government,market and forestry management.