| Summary: | 碩士 === 國立臺灣大學 === 森林學研究所 === 65 === The rotation decision is one of the most important tasks in forest management and planning. The first part of this thesis is to discuss and compare the various rotation models theoretically. For the sake of the influences of the general inflation and timber prices, traditional rotation decision methods can not correspond with modern social-econmic environment. In addition to the consideration of the time value of the money, this thesis also consider the general inflation rate, timber price increasing rate, and the wage increasing rate. Taking all these factors into account, this thesis revise the traditional financial rotation model. Then, it continues to emphasize th ecological balance of natural resourees and the functions of forest recreation and protection. Finally, from the portfolio selection point of view, this thesis also put the risk factor into consideration.
The Cryptomeria data is collected from the Experimental Forest of National Taiwan University. Using these emperical data and revised rotation model, the study try to find the optimium rotation of Cryptomeria. The conclusion of this thesis finds that the rotation of Cryptomeria has a propensity to postpone after considering all these new factors.
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