摘要：The present study, using a group of analysis of investments indicators, analyzes the risk-return relationship for different modalities of contracts so as to undertake reforestation activities in the area of “Campos de Palmas” in the South of Brazil. Due to the existing soil and climate conditions in that area, the pinus culture comes as a natural option of entrepreneurship for the rural landowners. Also, due to the world demand for wood, the companies of that region search for alternative forms of guaranteeing its forest supply by new organizational arrangements (contracts) such as: “pinus entrepreneurship”( in which the rural landowner decides to undertake himself and to assume the whole risk of the project); “leasing” (in which the landowner leases its property to a company in exchange for a monthly fixed income); “leasing plus a percentile” (in which the rural landlord receives a rent plus a percentile of the extracted wood); ”partnership with companies of reforestation” (in this arrangement type the company assumes the investments and the necessary maintenance costs for the formation of the forest. After the 3rd year the company gives back 25% of the planted area to the landlord). The organizational arrangement "pinus entrepreneurship" presented the highest return while the "leasing" presented the lowest one.
