Off-farm investment of farm households: A logit analysis

Agricultural Finance Review

Volumn 61, Issue 1, 2001, Pages 88-101

  Mishra, Ashok K ^a   Morehart, Mitchell J ^a  

^a NONE

Author keywords

Farm household; Logit analysis; Off farm investment

Indexed keywords

EID: 0012495305     PISSN: 00021466     EISSN: 20416326     Source Type: Journal    
DOI: 10.1108/00214770180001118     Document Type: Review

References (29)

1. Ahearn, M. C., J. E. Perry, and H. S. El-Osta. “The Economic Well-Being of Farm Operator Households, 1988–1990.” Agr. Econ. Rep. No. 666, USDA/Economic Research Service, Washington, DC, 1993.
2. Arrow, K. J. Essays in the Theory of Risk Bearing. Amsterdam: North-Holland, 1974.
3. Barry, P. J. Risk Management in Agriculture. Ames, IA: Iowa State University Press, 1984.
4. Bjornson, B., and R. Innes. “Another Look at Returns to Agricultural and Non-agricultural Assets.” Amer. J. Agr. Econ. 74(1992): 109–19.
5. Cass, D., and J. E. Stiglitz. “Risk Aversion and Wealth Effects on Portfolios with Many Assets.” Rev. Econ. Stud. 39(1972): 331–54.
6. Crisostomo, M. F., and A. M. Featherstone. “A Portfolio Analysis of Returns to Farm Equity and Assets.” N. Cent. J. Agr. Econ. 12(1990):9–21.
7. Federal Reserve System. “Survey of Consumer Finance.” Triennial survey conducted by the FRS Board of Governors. Washington, DC, 1992 and 1995.
8. Gasson, R., G. Crow, A. Errington, J. Huston, T. Marsden, and M. Winter. “The Farm as a Family Business: A Review.” J. Agr. Econ. 39, 1(1988): 1–42.
9. Gustafson, C. R., and S. L. Chama. “Financial Assets Held by North Dakota Farmers.” J. Amer. Soc. of Farm Managers and Rural Appraisers 58(1994):90–94.
10. Hill, B. Farm Incomes, Wealth, and Agricultural Policy, 2nd ed. Brookfield, VT: Ashgate Publishing Co., 1996.
11. Hoppe, R. A. Structural and Financial Characteristics of U.S. Farms. 21st Annual Family Farm Report to the U.S. Congress. Pub. No. AIB 735, USDA/Economic Research Service, Washington, DC (forthcoming).
12. Irwin, S., D. L. Forster, and B. J. Sherrick. “Returns to Farm Real Estate Revisited.” Amer. J. Agr. Econ. 70(1988):580–87.
13. Kold, R. W., and R. J. Rodriguez. Financial Institutions and Markets, 2nd ed. Cambridge, MA: Blackwell Publishers, 1996.
14. LaDue, E. L., L. H. Miller, and J. H. Kwiatkowski. “Investment Behavior and Farm Business Expansion.” Rev. Agr. Econ. 13, 1(1991):73–84.
15. Lins, D., and S. Hofing. “Diversifying Agricultural Investments.” AgriFinance (February 1989):35–36.
16. Lipton, K. “New U.S. Farm Resource Regions.” USDA/Economic Research Service website. Online at http://www.econ.ag.gov/whatsnew/issues/regions/index.htm. [Retrieved June 28, 1999.]
17. Mishra, A. K., and M. J. Morehart. “Farm Household Savings.” In Financing Agriculture and Rural America: Issues of Policy, Structure, and Technical Change, pp. 148–74. Proceedings of Regional Committee NC-221, ed., S. H. Lence. Ames, IA: Dept. of Economics, Iowa State University, 1998.
18. Monke, J. M. “The 1997 Tax Law: New Incentives for Farmers to Invest for Retirement.” Agricultural Outlook (December 1998):24–26.
19. Monke, J. M., M. Boehlje, and G. Pederson. “Efficient Investment Strategies: Impact of Tax Policies and Risk Preferences.” Agr. Fin. Rev. 52(1992):72–89.
20. Moss, C. B., A. M. Featherstone, and T. G. Baker. “Agricultural Assets in an Efficient Multiperiod Investment Portfolio.” Agr. Fin. Rev. 47(1987): 82–94.
21. Penson, J. B. “Demand for Financial Assets in the Farm Sector: A Portfolio Balance Approach.” Amer. J. Agr. Econ. 54(1972): 163–73.
22. Robison, L. J., and P. J. Barry. The Competitive Firm's Response to Risk. New York: Macmillan Publishing Co., 1987.
23. Schnitkey, G., and W. Lee. “Farmers Should Own More Financial Assets—Even if It Means Owning Less Land.” In Regulatory, Efficiency, and Management Issues Affecting Rural Financial Markets. Proceedings of Regional Committee NC-207. Staff Paper No. SP-0196, Dept. of Agr. Econ. and Rural Sociol., University of Arkansas, Fayetteville, 1996.
24. Takayama, A. Analytical Methods in Economics. Ann Arbor: University of Michigan Press, 1993.
25. Theil, H. Statistical Decomposition Analysis. Amsterdam: North-Holland, 1972.
26. U.S. Department of Agriculture. “Agricultural Resource Management Study” (ARMS). Annual farm survey. Jointly conducted by Economic Research Service and National Agricultural Statistics Service, USDA, Washington, DC, 1996.
27. U.S. Department of Agriculture, National Commission on Small Farms. “A Time to Act: A Report of the USDA National Commission on Small Farms.” Washington, DC, January 1998.
28. Weldon, R. N. “Farm Risk and Diversification: A Capital Markets Approach.” Unpub. Ph.D. diss., Dept. of Agr. and Appl. Econ., University of Minnesota, 1988.
29. Young, R., and P. J. Barry. “Holding Financial Assets as a Response to Risk Response: A Portfolio Analysis of Illinois Cash Grain Farms.” N. Cent. J. Agr. Econ. 9(1987):77–84.