Succession planning is a component of a household’s risk management strategy for its farm business in as much as it is aimed at continuity of the business' management team. The family farm sector relies heavily on intergenerational succession. Succession and retirement are inter-linked...

From a practical stand point, the precision and robustness of forecasting agricultural land values are evaluated in two out-of-sample time periods. Empirical application to five Midwestern states in the U.S. indicates the annually updated model performed well.

The proportions of land values generated by farm program payments and farm returns are examined using an extended income capitalization model. The extended income capitalization model addresses the identification issue introduced by the counter-cyclical nature of farm program payments and farm...

This study addresses the impact of trade openness on technical efficiency in the U.S. agricultural sector. The results indicate that trade protectionism illustrated with a decrease in the share of agricultural imports in agricultural GDP led to an increase in technical efficiency. A change in...

The objective of this study is to test the dynamic relationships among variables including farm real estate values, farm returns, farm program payments, and real interest rates in an income capitalization model. Our analysis is unique in multiple ways: (1) it covers the period beginning with the...

In the era of a global economy, farmers face increasing pressure in developing a portfolio of various marketing channels. However, the literature on direct marketing strategies has mainly focused on consumers. Using farm-level data this study investigates factors associated with the choice of...

With the production and cropping efficiency gains from adoption of Genetically Modified (GM) corn, the number of acres planted has increased steadily over the past decade. Also, the adoption of GM crops in general has an impact on the labor allocation decisions of farm operators. Using a large...

This paper examines the effects of structural changes on the distribution of net value added and the difference between net value added and agricultural income over time. We present and discuss the changes in the distribution of net value added (land, labor, capital, and farm operator income)...

This paper uses Theil's (1979) entropy-based measure of inequality and farm-level data to examine changes in farm business wealth (farm equity) of farm households. The farms associated with farm households are grouped by state into ten regions of the United States. The Theil entropy measure is...

The objective of this study was to identify factors which contribute to the earnings' success of cash grain farms in the United States. The study analyzes three measures of success including net farm income per dollar of asset, operators' returns to labor and management, and operators'...