Issues concerning Landowner Management Plan Adoption Decisions: A Recursive Bivariate Probit Approach

Table 2

Results of recursive bivariate probit regression on landowner decision to prepare forest management plan and to harvest timber in future.

Variables	Management plan model		Future harvest model
	Coefficients; (-ratio)	Marginal effects	Coefficients; (-ratio)	Marginal effects
ACRES	0.302^**; (1.98)	0.117	0.704^*; (1.87)	0.008
BEQUEST	−0.193; (0.88)	−0.077
FUHAR	1.70^***; (5.45)	0.433
HAB	0.323^*; (1.88)	0.125	−0.88^***; (−3.00)	−0.001
FIN	−0.279  (1.27)	−0.111	0.85^***; (3.12)	0.013
INV			0.664^**; (2.41)	0.007
DUR	0.006^*; (2.13)	0.002	0.001; (0.31)	0.0006
PP			0.746^***; (3.46)	0.009
GENDER	−0.261; (1.62)	−0.103
INCOME	0.466^***; (2.66)	0.176	−0.248; (−1.08)	−0.0006
AGE			−0.016^*; (1.83)	−0.006
EDUCATION	0.176; (1.20)	0.069	0.640^***; (2.77)	0.006
INTERCEPT	−2.50^***; (−0.358)		1.55^**; (2.29)
Log-likelihood ratio	−341.475
Rho	−0.78^***; (6.78)

^***Significant at 1% level, ^**significant at 5% level, and ^*significant at 10% level.