Pajić, Sanja

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  • Pajić, Sanja (4)
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Author's Bibliography

Licitacije drveta na panju u okviru JP 'Srbijašume'

Keča, Ljiljana; Sinđelić, Marko; Marčeta, Milica; Pajić, Sanja

(Univerzitet u Beogradu - Šumarski fakultet, Beograd, 2017)

TY  - JOUR
AU  - Keča, Ljiljana
AU  - Sinđelić, Marko
AU  - Marčeta, Milica
AU  - Pajić, Sanja
PY  - 2017
UR  - https://omorika.sfb.bg.ac.rs/handle/123456789/827
AB  - Šumski sortimenti mogu se prodavati na dva načina: 'na panju' (u dubećem stanju) i u obliku šumskih drvnih sortimenata. U radu su analizirane licitacije drveta na panju, u toku prve polovine 2016. godine realizovane u okviru JP 'Srbijašume'. Istraživanje je bazirano na sekundarnim podacima koji su generisani iz izveštaja JP 'Srbijašume'. Time su obuhvaćeni podaci koji se odnose na: količine drveta, početne licitacione i izlicitirane cene, efekte licitacije, broj učesnika na licitacijama kao i cenovnik za datu godinu. Najviše licitacija imalo je ŠG 'Šumarstvo' iz Raške sa sprovedenih 46 licitacija. Od ukupno 14 šumskih gazdinstava, koja su sprovele licitacije, polovina je imala više od 50% uspešno realizovanih partija, dva gazdinstva imala su tačno 50%, a pet gazdinstava imalo je manje od 50%. ŠG 'Niš' ima daleko najveći prihod od licitacija drveta u dubećem stanju, koji iznosi 26.082.926 dinara. Samo ŠG iz Užica i ŠG iz Prokuplja imali su efekat licitacije preko 10%. Najveći broj licitacija, čak 70, objavljen je u martu mesecu. Najveći broj partija ušao u šestu kategoriju po veličini, odnosno kategoriju gde je drvna zapremina iznosila od 300 do 500 m3. Šumska gazdinstva prilikom licitacione prodaje drveta na panju najčešće su prodavala ogrevno drvo tvrdih lišćara. Na bazi analiziranih podataka utvrđeno je postojanje linearne zavisnosti između početne i izlicitirane cene.
AB  - Forest assortments can be sold in two ways: 'on the stump' (in the standing state) and in the form of forest timber assortments. The paper analyzes auctions of wood 'on the stump', during the first half of 2016, realized within PE 'Srbijašume'. The research is based on secondary data, generated from the PE Srbijašume reports. These includes data relating to: quantities of wood, initial bidding and auctioned prices, bidding effects, number of bidders on bids and a price list for a analzyed year. FE 'Šumarstvo' from Raška had the most auctions with 46 bids held. Of the total of 14 forest estates that conducted auctions, half had more than 50% of successfully implemented parties, two estates had exactly 50%, and five estates had less than 50%. FE 'Niš' has the highest income from auctions of wood in the standing state, which amounts to 26.082.926 dinars. Only FE from Užice and FE from Prokuplje had a bidding effect of over 10%. The highest number of bids, as much as 70, was announced in March. Most of the lots entered the sixth category by size, i.e. the category where the wood volume ranged from 300 to 500 m3. Forest estates during the sale of the tree on the stump were mostly sold by wood of hardwoods. On the basis of the analyzed data, the existence of linear dependence between the initial and the auctioned price was determined.
PB  - Univerzitet u Beogradu - Šumarski fakultet, Beograd
T2  - Glasnik Šumarskog fakulteta
T1  - Licitacije drveta na panju u okviru JP 'Srbijašume'
T1  - Auctions of the wood on the stump in PE 'Srbijašume'
EP  - 68
IS  - 116
SP  - 51
DO  - 10.2298/GSF1716051K
UR  - conv_463
ER  - 
@article{
author = "Keča, Ljiljana and Sinđelić, Marko and Marčeta, Milica and Pajić, Sanja",
year = "2017",
abstract = "Šumski sortimenti mogu se prodavati na dva načina: 'na panju' (u dubećem stanju) i u obliku šumskih drvnih sortimenata. U radu su analizirane licitacije drveta na panju, u toku prve polovine 2016. godine realizovane u okviru JP 'Srbijašume'. Istraživanje je bazirano na sekundarnim podacima koji su generisani iz izveštaja JP 'Srbijašume'. Time su obuhvaćeni podaci koji se odnose na: količine drveta, početne licitacione i izlicitirane cene, efekte licitacije, broj učesnika na licitacijama kao i cenovnik za datu godinu. Najviše licitacija imalo je ŠG 'Šumarstvo' iz Raške sa sprovedenih 46 licitacija. Od ukupno 14 šumskih gazdinstava, koja su sprovele licitacije, polovina je imala više od 50% uspešno realizovanih partija, dva gazdinstva imala su tačno 50%, a pet gazdinstava imalo je manje od 50%. ŠG 'Niš' ima daleko najveći prihod od licitacija drveta u dubećem stanju, koji iznosi 26.082.926 dinara. Samo ŠG iz Užica i ŠG iz Prokuplja imali su efekat licitacije preko 10%. Najveći broj licitacija, čak 70, objavljen je u martu mesecu. Najveći broj partija ušao u šestu kategoriju po veličini, odnosno kategoriju gde je drvna zapremina iznosila od 300 do 500 m3. Šumska gazdinstva prilikom licitacione prodaje drveta na panju najčešće su prodavala ogrevno drvo tvrdih lišćara. Na bazi analiziranih podataka utvrđeno je postojanje linearne zavisnosti između početne i izlicitirane cene., Forest assortments can be sold in two ways: 'on the stump' (in the standing state) and in the form of forest timber assortments. The paper analyzes auctions of wood 'on the stump', during the first half of 2016, realized within PE 'Srbijašume'. The research is based on secondary data, generated from the PE Srbijašume reports. These includes data relating to: quantities of wood, initial bidding and auctioned prices, bidding effects, number of bidders on bids and a price list for a analzyed year. FE 'Šumarstvo' from Raška had the most auctions with 46 bids held. Of the total of 14 forest estates that conducted auctions, half had more than 50% of successfully implemented parties, two estates had exactly 50%, and five estates had less than 50%. FE 'Niš' has the highest income from auctions of wood in the standing state, which amounts to 26.082.926 dinars. Only FE from Užice and FE from Prokuplje had a bidding effect of over 10%. The highest number of bids, as much as 70, was announced in March. Most of the lots entered the sixth category by size, i.e. the category where the wood volume ranged from 300 to 500 m3. Forest estates during the sale of the tree on the stump were mostly sold by wood of hardwoods. On the basis of the analyzed data, the existence of linear dependence between the initial and the auctioned price was determined.",
publisher = "Univerzitet u Beogradu - Šumarski fakultet, Beograd",
journal = "Glasnik Šumarskog fakulteta",
title = "Licitacije drveta na panju u okviru JP 'Srbijašume', Auctions of the wood on the stump in PE 'Srbijašume'",
pages = "68-51",
number = "116",
doi = "10.2298/GSF1716051K",
url = "conv_463"
}
Keča, L., Sinđelić, M., Marčeta, M.,& Pajić, S.. (2017). Licitacije drveta na panju u okviru JP 'Srbijašume'. in Glasnik Šumarskog fakulteta
Univerzitet u Beogradu - Šumarski fakultet, Beograd.(116), 51-68.
https://doi.org/10.2298/GSF1716051K
conv_463
Keča L, Sinđelić M, Marčeta M, Pajić S. Licitacije drveta na panju u okviru JP 'Srbijašume'. in Glasnik Šumarskog fakulteta. 2017;(116):51-68.
doi:10.2298/GSF1716051K
conv_463 .
Keča, Ljiljana, Sinđelić, Marko, Marčeta, Milica, Pajić, Sanja, "Licitacije drveta na panju u okviru JP 'Srbijašume'" in Glasnik Šumarskog fakulteta, no. 116 (2017):51-68,
https://doi.org/10.2298/GSF1716051K .,
conv_463 .
1

Investment Appraisal of Poplar Plantations in Serbia

Keča, Ljiljana; Keča, Nenad; Pajić, Sanja

(2011)

TY  - JOUR
AU  - Keča, Ljiljana
AU  - Keča, Nenad
AU  - Pajić, Sanja
PY  - 2011
UR  - https://omorika.sfb.bg.ac.rs/handle/123456789/362
AB  - In conditions of increasing wood consumption and demand in the world, the aim of the majority of national economies is to intensify local resource production. Due to the fact that poplar rotation is one of the shortest in forestry, and as production of poplar wood requires rational and well-planned management, the potentials of sites and species must be maximally utilised. Favourable financial effects of such a production should be realized. The commercial profitability of poplar cultivation was analysed in an artificial poplar plantation in Serbia. The aim of the study was to validate the invested financial means in artificial poplar plantations, based on the analysis of costs and receipts in different rotation (25-42) years, on different fluvisols (alluvial semigley, humifluvisol, humogley and alpha/beta-beta gley), at different discount rates (4-12%). Methods of analysis of commercial profitability, especially some methods of dynamic investment calculation (net present value - NPV, internal rate of return - IRR, benefit-cost method - R and pay back period - PBP) were used. The investigated plantations were established from Populus x euramericana cl. I-214. with planting spacing 6 x 6 m. Thirteen study plots - management units (55 stands), with a total area of 331.05 ha were investigated in the period 2002-2010. For a discount rate r = 12%, all tested areas had a negative NPV of 11 088 to 23 676 (sic).ha(-1), regardless of age and site quality. The discount rate of 6% can be accepted by shorter production cycles in younger stands (to the age of 28 years) on better sites (alluvial semigley). IRRs varied in the range 4.32-6.94% (average 5.63%) at a discount rate of 12%. Internal rates were larger for plantations on good quality soil types and for shorter rotations and vice versa. The analysis showed that PBP is practically unacceptable for the investor under the discount rate of 6%. The most favourable situation is the discount rate of 2% in younger plantations. The average amount of R was 0.36 for all studied plots.
T2  - Baltic Forestry
T1  - Investment Appraisal of Poplar Plantations in Serbia
EP  - 279
IS  - 2
SP  - 268
VL  - 17
UR  - conv_2215
ER  - 
@article{
author = "Keča, Ljiljana and Keča, Nenad and Pajić, Sanja",
year = "2011",
abstract = "In conditions of increasing wood consumption and demand in the world, the aim of the majority of national economies is to intensify local resource production. Due to the fact that poplar rotation is one of the shortest in forestry, and as production of poplar wood requires rational and well-planned management, the potentials of sites and species must be maximally utilised. Favourable financial effects of such a production should be realized. The commercial profitability of poplar cultivation was analysed in an artificial poplar plantation in Serbia. The aim of the study was to validate the invested financial means in artificial poplar plantations, based on the analysis of costs and receipts in different rotation (25-42) years, on different fluvisols (alluvial semigley, humifluvisol, humogley and alpha/beta-beta gley), at different discount rates (4-12%). Methods of analysis of commercial profitability, especially some methods of dynamic investment calculation (net present value - NPV, internal rate of return - IRR, benefit-cost method - R and pay back period - PBP) were used. The investigated plantations were established from Populus x euramericana cl. I-214. with planting spacing 6 x 6 m. Thirteen study plots - management units (55 stands), with a total area of 331.05 ha were investigated in the period 2002-2010. For a discount rate r = 12%, all tested areas had a negative NPV of 11 088 to 23 676 (sic).ha(-1), regardless of age and site quality. The discount rate of 6% can be accepted by shorter production cycles in younger stands (to the age of 28 years) on better sites (alluvial semigley). IRRs varied in the range 4.32-6.94% (average 5.63%) at a discount rate of 12%. Internal rates were larger for plantations on good quality soil types and for shorter rotations and vice versa. The analysis showed that PBP is practically unacceptable for the investor under the discount rate of 6%. The most favourable situation is the discount rate of 2% in younger plantations. The average amount of R was 0.36 for all studied plots.",
journal = "Baltic Forestry",
title = "Investment Appraisal of Poplar Plantations in Serbia",
pages = "279-268",
number = "2",
volume = "17",
url = "conv_2215"
}
Keča, L., Keča, N.,& Pajić, S.. (2011). Investment Appraisal of Poplar Plantations in Serbia. in Baltic Forestry, 17(2), 268-279.
conv_2215
Keča L, Keča N, Pajić S. Investment Appraisal of Poplar Plantations in Serbia. in Baltic Forestry. 2011;17(2):268-279.
conv_2215 .
Keča, Ljiljana, Keča, Nenad, Pajić, Sanja, "Investment Appraisal of Poplar Plantations in Serbia" in Baltic Forestry, 17, no. 2 (2011):268-279,
conv_2215 .
6

Financial Aspects of Restoration in Poplar Plantations with Technology of Full Ground and Soil Preparation

Keča, Ljiljana; Pajić, Sanja

(2010)

TY  - CONF
AU  - Keča, Ljiljana
AU  - Pajić, Sanja
PY  - 2010
UR  - https://omorika.sfb.bg.ac.rs/handle/123456789/314
AB  - Production of poplar wood requires rational and planned management, so that the site and the species potentials are maximally utilised, on the one hand and on the other hand also to realize the favourable financial effects. In this sense, costs and receipts of wood production of poplar clone I-214 were investigated in the Management Unit "Kupinske Grede", compartment 45, stand A, (F.E. "Sremska Mitrovica"). The stand was 37 years old, planting density 6x6 m, forest type poplar on fossil hydromorphic black soil (humosemigley) on loess-alluvium. The commercial profitability of poplar cultivation was analyzed in an artificial poplar plantation, rotation 37 years. The aim of the study was to check the justification of the invested financial means in artificial poplar plantations, based on the analysis of costs and receipts in the period of 37 years, by using the method of analysis of commercial profitability, especially some methods of dynamic investment calculation. The authors emphasize the necessity of improvement of technology of full ground and soil preparation and advice management of the enterprise to the improvement of stable ecosystem in the future. In practice, it is necessary to improve the position of producers in getting the deficient financial means for the investment in poplar cultivation, so as to stimulate the establishment of artificial poplar plantations, especially in the private sector (on private land), which are not attractive for agricultural production.
C3  - Global Change: Challenges for Soil Management
T1  - Financial Aspects of Restoration in Poplar Plantations with Technology of Full Ground and Soil Preparation
EP  - +
SP  - 321
VL  - 41
UR  - conv_973
ER  - 
@conference{
author = "Keča, Ljiljana and Pajić, Sanja",
year = "2010",
abstract = "Production of poplar wood requires rational and planned management, so that the site and the species potentials are maximally utilised, on the one hand and on the other hand also to realize the favourable financial effects. In this sense, costs and receipts of wood production of poplar clone I-214 were investigated in the Management Unit "Kupinske Grede", compartment 45, stand A, (F.E. "Sremska Mitrovica"). The stand was 37 years old, planting density 6x6 m, forest type poplar on fossil hydromorphic black soil (humosemigley) on loess-alluvium. The commercial profitability of poplar cultivation was analyzed in an artificial poplar plantation, rotation 37 years. The aim of the study was to check the justification of the invested financial means in artificial poplar plantations, based on the analysis of costs and receipts in the period of 37 years, by using the method of analysis of commercial profitability, especially some methods of dynamic investment calculation. The authors emphasize the necessity of improvement of technology of full ground and soil preparation and advice management of the enterprise to the improvement of stable ecosystem in the future. In practice, it is necessary to improve the position of producers in getting the deficient financial means for the investment in poplar cultivation, so as to stimulate the establishment of artificial poplar plantations, especially in the private sector (on private land), which are not attractive for agricultural production.",
journal = "Global Change: Challenges for Soil Management",
title = "Financial Aspects of Restoration in Poplar Plantations with Technology of Full Ground and Soil Preparation",
pages = "+-321",
volume = "41",
url = "conv_973"
}
Keča, L.,& Pajić, S.. (2010). Financial Aspects of Restoration in Poplar Plantations with Technology of Full Ground and Soil Preparation. in Global Change: Challenges for Soil Management, 41, 321-+.
conv_973
Keča L, Pajić S. Financial Aspects of Restoration in Poplar Plantations with Technology of Full Ground and Soil Preparation. in Global Change: Challenges for Soil Management. 2010;41:321-+.
conv_973 .
Keča, Ljiljana, Pajić, Sanja, "Financial Aspects of Restoration in Poplar Plantations with Technology of Full Ground and Soil Preparation" in Global Change: Challenges for Soil Management, 41 (2010):321-+,
conv_973 .
5

Analiza komercijalne isplativosti zasada topola starosti 24 godine

Keča, Ljiljana; Ranković, Nenad; Pajić, Sanja

(Univerzitet u Beogradu - Šumarski fakultet, Beograd, 2008)

TY  - JOUR
AU  - Keča, Ljiljana
AU  - Ranković, Nenad
AU  - Pajić, Sanja
PY  - 2008
UR  - https://omorika.sfb.bg.ac.rs/handle/123456789/233
AB  - U radu je prikazana analiza komercijalne isplativosti uzgoja topola. Ona je vršena za veštački zasad topole pri ophodnji od 25 godina. Cilj istraživanja je da se na osnovu analize troškova i prihoda u periodu od 25 godina, korišćenjem metoda analiza komercijalne isplativosti, proveri opravdanost uloženih finansijskih sredstava u veštačke topolove zasade. Korišćene su savremene metode vrednovanja investicija, koje su na taj način pronašle svoju praktičnu primenu u šumarstvu.
AB  - The commercial profitability of poplar cultivation was analysed in an artificial poplar plantation, rotation 25 years. The aim of the study was to check the justification of the invested financial means in artificial poplar plantations, based on the analysis of costs and receipts in the period of 25 years, by using the method of analysis of commercial profitability. The evaluation of investments was performed by modern methods which, in this way, found their practical implementation in forestry.
PB  - Univerzitet u Beogradu - Šumarski fakultet, Beograd
T2  - Glasnik Šumarskog fakulteta
T1  - Analiza komercijalne isplativosti zasada topola starosti 24 godine
T1  - Analysis of commercial profitability of poplar plantations aged 24 years
EP  - 185
IS  - 97
SP  - 171
DO  - 10.2298/GSF0897171K
UR  - conv_272
ER  - 
@article{
author = "Keča, Ljiljana and Ranković, Nenad and Pajić, Sanja",
year = "2008",
abstract = "U radu je prikazana analiza komercijalne isplativosti uzgoja topola. Ona je vršena za veštački zasad topole pri ophodnji od 25 godina. Cilj istraživanja je da se na osnovu analize troškova i prihoda u periodu od 25 godina, korišćenjem metoda analiza komercijalne isplativosti, proveri opravdanost uloženih finansijskih sredstava u veštačke topolove zasade. Korišćene su savremene metode vrednovanja investicija, koje su na taj način pronašle svoju praktičnu primenu u šumarstvu., The commercial profitability of poplar cultivation was analysed in an artificial poplar plantation, rotation 25 years. The aim of the study was to check the justification of the invested financial means in artificial poplar plantations, based on the analysis of costs and receipts in the period of 25 years, by using the method of analysis of commercial profitability. The evaluation of investments was performed by modern methods which, in this way, found their practical implementation in forestry.",
publisher = "Univerzitet u Beogradu - Šumarski fakultet, Beograd",
journal = "Glasnik Šumarskog fakulteta",
title = "Analiza komercijalne isplativosti zasada topola starosti 24 godine, Analysis of commercial profitability of poplar plantations aged 24 years",
pages = "185-171",
number = "97",
doi = "10.2298/GSF0897171K",
url = "conv_272"
}
Keča, L., Ranković, N.,& Pajić, S.. (2008). Analiza komercijalne isplativosti zasada topola starosti 24 godine. in Glasnik Šumarskog fakulteta
Univerzitet u Beogradu - Šumarski fakultet, Beograd.(97), 171-185.
https://doi.org/10.2298/GSF0897171K
conv_272
Keča L, Ranković N, Pajić S. Analiza komercijalne isplativosti zasada topola starosti 24 godine. in Glasnik Šumarskog fakulteta. 2008;(97):171-185.
doi:10.2298/GSF0897171K
conv_272 .
Keča, Ljiljana, Ranković, Nenad, Pajić, Sanja, "Analiza komercijalne isplativosti zasada topola starosti 24 godine" in Glasnik Šumarskog fakulteta, no. 97 (2008):171-185,
https://doi.org/10.2298/GSF0897171K .,
conv_272 .