Browsing by Author "Acuna, Eduardo"
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Item Practices Used in Estimating the Cost of Capital and Investment Appraisal in the Chilean Forestry Sector(2015) Acuna, Eduardo; Cancino, Jorge; Vásquez Lavín, Felipe; Mena, Pablo; Sánchez, KarenThe proper determination of cost of capital is crucial in the maximization of forest enterprises value as it depends on the capital budgeting decisions made by the managers. It is unknown whether the firm size has an effect on the techniques used to determine the cost of capital in the Chilean forestry sector. The main objective of this research was to determine the practices used by decision makers from the forestry sector to estimate the cost of capital and, at the same time, how their investments how evaluated. In order to carry out this study, a survey was conducted by using the SurveyMonkey online tool. The final survey consisted of 20 questions. A total of 189 people from 49 companies were registered. The study allows concluding that the net present value (NPV) is the main investment appraisal used by decision makers from the Chilean forestry sector. On the other hand, the estimation of the cost of capital is mostly performed by means of the Cost of Debt method. In addition, it was verified that there is a lack of knowledge on the budging techniques used worldwide.Item Willingness to Pay of Smallholders for Soil Restoration: Results of a Contingent Valuation Survey(2014) Lillo, Francisco; Acuna, Eduardo; Vásquez Lavín, Felipe; Mena, Pablo; Rodríguez, RolandoThis work presents the willingness to pay of smallholders of the rainfed from Central Chile by means of implementing restoration projects of soils degraded by erosion, covering an area that extends from Libertador Bernardo O'Higgins Region to Biobio Region. In order to determine the extent of welfare in smallholders by means of the application of soil restoration projects, the Contingent Valuation Method was used. This model assumes the linear functional form of an indirect function of usefulness and a logical distribution for the method of stated preferences in the format of a simple dichotomous model. The determinant variables of the willingness to pay that were significant were evaluated. These variables were the condition of the owner and the perception of low performance derived from the erosion condition of the land, unlike variables such as yields, expenses or costs which can be due to the perception as such in the economy of the smallholder who lives off the land. As welfare measurement the trimmed means was measured, resulting in 7.17 US$ ha(-1) and adding -to the total surface of the inland rainfed- of 2,463,761 US$ per month.