Factors affecting returns to labor and management on U.S. dairy farms

Agricultural Finance Review

Volumn 61, Issue 2, 2001, Pages 123-140

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

^a ECONOMIC RESEARCH SERVICE   (United States)

Author keywords

Dairy farms; Education; Extension; Returns to labor and management

Indexed keywords

EID: 23344435806     PISSN: 00021466     EISSN: 20416326     Source Type: Journal    
DOI: 10.1108/00214790180001120     Document Type: Article

References (85)

1. Alchian, A. A., and H. Demsetz. "Production, Information Costs, and Economic Organization." Amer. Econ. Rev. 62, 5(December 1972):777-95.
2. Ali, M. B., and R. G. Johnson. "Factors Influencing Economic Success of North Dakota Farms." Agr. Econ. Rep. No. 223, Dept, of Agr. Econ., North Dakota State University, June 1987.
3. Barlett, P. F. "Microdynamics of Debt, Drought, and Default in South Georgia." Amer. J. Agr. Econ. 66(1984):836-43.
4. Becker, G. S. Human Capital A Theoretical and Empirical Analysis with Special Reference to Education. New York: National Bureau of Economic Research and Columbia University Press, 1975.
5. Boehlje, M. "The Emerging Agricultural Lending System." In Financing Agriculture into the Twenty-First Century, eds., M. Duncan and J. Stam. Boulder, CO: Westview Press, 1998.
6. Boessen, C. R., A. M. Featherstone, L. N. Langemeier, and R. O. Burton, Jr. "Financial Performance of Successful and Unsuccessful Farms." J. Amer. Society of Farm Managers and Rural Appraisers 54(April 1990):6-15.
7. Boggess W. G., K. A. Anaman, and B. D. Hanson. "Importance, Causes, and Management Responses to Farm Risks: Evidence from Florida and Alabama." S. J. Agr. Econ. 17(1985): 106-16.
8. Bravo-Ureta, B. E. "Nonparametric Measures of Technical Efficiency in Milk Production." J. Northeast. Agr. Econ. Council 12(1983):69-76.
9. Bravo-Ureta, B. E., and L. Rieger. "Daily Farm Efficiency Measurement Using Stochastic Frontiers and Neoclassical Duality." Amer. J. Agr. Econ. 73(1991): 421-28.
10. Brouk, M. J. "Contracting Growing Dairy Heifers: The Good, The Bad, and The Ugly." Paper presented at the 2000 Western Canadian Dairy Seminar titled "Advances in Dairy Technology-The Tools for Success in the New Millennium." Red Deer, Alberta, Canada, 2000.
11. Burritt, M. C. "The Incomes of 178 New York Farms." Bulletin No. 271, Cornell University, Ithaca, NY, 1909.
12. Burton, R. O., Jr., and A. Abderrezak. "Expected Profit and Farm Characteristics." Contribution No. 89- 32- D, Agr. Exp. Sta., Kansas State University, Manhattan, July 1988.
13. Carley, D. "Silage-Concentrate Substitutions: Effects on Milk Production and Income Over Feed Cost in DHIA Herds." Amer. J. Agr. Econ. 55(1973):641-46.
14. Chavas, J.-P. "Structural Change in Agricultural Production: Economics, Technology, and Policy." In Handbook of Agricultural Economics, eds., B. L. Gardner and G. C. Rausser. New York: Elsevier Science, forthcoming 2001.
15. Chavas, J.-P., and M. Aliber. "An Analysis of Economic Efficiency in Agriculture: A Nonparametric Approach." J. Agr. and Resour. Econ. 18(1993): 1-16.
16. Cochrane, W. W. The Development of Agriculture: A Historical Analysis. Minneapolis: University of Minnesota Press, 1979.
17. Cunningham-Dunlop, C. "A Five-Year Analysis of New York Egg Farm Management Factors." Pub. No. A.E. Res. 82-18, Dept, of Poultry and Avian Sciences, Cornell University, Ithaca, NY, June 1982.
18. Curtis, C. E., G. H. Pfeiffer, L. L. Lutgen, and S. D. Frank. "A Target MOTAD Approach to Marketing Strategy Selection for Soybeans." N. Cent. J. Agr. Econ. 9(1987): 195-206.
19. Dahlgran, R. "A Synthesis of Microeconomic Duality Theory and Distributed Lag Modeling with Implications for U.S. Dairy Policy." N. Cent. J. Agr. Econ. 7(1985): 132-44.
20. Downey, W. D., and J. K. Trocke. Agribusiness Management. New York: McGraw-Hill, 1981.
21. El-Osta, H. S., and J. D. Johnson. "Determinants of Financial Performance of Commercial Dairy Farms." Tech. Bull. No. 1859, USDA/Economic Research Service, Washington, DC, 1998.
22. El-Osta, H. S., and M. J. Morehart. 'Technology Adoption Decision in Dairy Production and the Role of Herd Expansion." Agr. and Resour. Econ. Rev. 28(1999):84-95.
23. Ellinger, P. N., P. J. Barry, T. L. Frey, and J. T. Scott, Jr. "Financial Characteristics of Illinois Farms, 1985- 1986." Dept, of Agr. Econ., University of Illinois at Urbana- Champaign, 1987.
24. Feder, G., and R. Slade. "The Acquisition of Information and the Adoption of New Technology." Amer. J. Agr. Econ. 66(1984):312-20.
25. Femandez-Comejo, J., C. M. Gempesaw, II, J. G. Elterich, and S. E. Stephanou. "Dynamic Measures of Scope and Scale Economies: An Application to German Agriculture." Amer. J. Agr. Econ. 74(1992):329-42.
26. Ford, S. A., and J. S. Shonkwiler. "The Effect of Managerial Ability on Farm Financial Success." Agr. and Resour. Econ. Rev. 23, 2(1994): 150-57.
27. Garcia, P., S. T. Sonka, and M. S. Yoo. "Farm Size, Tenure, and Economic Efficiency in a Sample of Illinois Grain Farms." Amer. J. Agr. Econ. 64(1982): 119-23.
28. Grisley, W., and K. Gitu. "The Production Structure of Pennsylvania Dairy Farms." Northeast. J. Agr. and Resour. Econ. 13(1984):245-53.
29. Grisley, W., and J. Mascarenhas. "Operating Cost Efficiency on Pennsylvania Dairy Farms." Northeast J. Agr. andResour. Econ. 14(1985): 88-95.
30. Hackbart, M. M., and D. A. Anderson. "On Measuring Economic Diversification: Reply." Land Econ. 54(1978): 111-12.
31. Haden, K. L., and L. A. Johnson. "Factors Which Contribute to Financial Performance of Selected Tennessee Dairies." S. J. Agr. Econ. 21(1989): 105-12.
32. Haydu, J. J., R. J. Myers, and S. R. Thompson. "Why Do Farmers Forward Contract in Factor Markets?" S. J. Agr. Econ. 24, 1 (July 1992): 145-51.
33. Hoffman, R. "Size and Profitability: It's Better to Be Good Than Big, But You Can't Beat Good and Big." Farm Journal (Mid-March 1996):2-3.
34. Hoskisson, R. E., and M. A. Hitt. Downscoping: How to Tame the Diversified Firm. New York: Oxford University Press, 1994.
35. Huffman, W. E. "Decision Making: The Role of Education." Amer. J. Agr. Econ. 56(1974):85-97.
36. Huffman, W. E. "Allocative Efficiency: The Role of Human Capital." Quart. J. Econ. 91(1977):59-79
37. Huffman, W. E. "Human Capital, Adaptive Ability, and the Distributional Implications for Agricultural Policy." Amer. J. Agr. Econ. 67(1985):429-34.
38. Hurd, B. H. "Yield Response and Production Risk: An Analysis of Integrated Pest Management in Cotton." J. Agr. and Resour. Econ. 19(December 1994):313-26.
39. Kauffman, J. B., and L. W. Tauer. "Successful Dairy Farm Management Strategies Identified by Stochastic Dominance Analysis of Farm Records." Northeast. J. Agr. and Resour. Econ. 15(1986): 168-77.
40. Korth, B. D. "Factors for Determining Financial Success for Farm Managers." Unpub. master's thesis, Dept, of Agr. Econ., University of Nebraska, Lincoln, November 1984.
41. Krause, K. R., and L. R. Kyle. "Economic Factors Underlying the Incidence of Large Farming Units: The Current Situation." Amer. J. Agr. Econ. 52(1970): 748-61.
42. Laband, D. N., and B. F. Lentz. "Occupational Inheritance in Agriculture." Amer. J. Agr. Econ. 65(1983):311-14.
43. Lang, L. H. P., and R. M. Stulz. 'Tobin's q, Corporate Diversification, and Firm Performance." J. Polit. Econ. 102(December 1994): 1249-80.
44. Lin, J. Y. "Educational and Innovation Adoption in Agriculture: Evidence from Hybrid Rice in China." Amer. J. Agr. Econ. 73(1991):713-23.
45. Ling, K. C., and C. B. Liebrand. "Dairy Cooperatives' Role in Managing Price Risks." ACS Research Rep. No. 152, Rural Business and Cooperative Services, Washington, DC, April 1994.
46. Lins, D., P. Ellinger, and D. Lattz. "Measurement of Financial Stress in Agriculture." Agr. Fin. Rev. 47(1987): 43-52.
47. Luckham, W. R. "Financial Ratios for Grade A Dairy Farms in Virginia." Farm Credit Administration Res. J. 1(1976): 18-24.
48. Matulich, S. C. "Efficiencies in Large-Scale Dairying: Incentives for Future Structural Change." Amer. J. Agr. Econ. 60(1978):642-47.
49. Melichar, E. "Capital Gains versus Current Income in the Farming Sector." Amer. J. Agr. Econ. 61(1979): 1085-1102.
50. Mishra, A. K., and J. E. Perxy. "Forward Contracting of Inputs: A Farm-Level Analysis." J. Agribusiness 17, 2(Fall 1999):77-91.
51. Montgomery, C. A. "Corporate Diversification." J. Econ. Perspectives 8(Summer 1994): 163-78.
52. Morehart, M. J., J. D. Johnson, and D. E. Banker. "Financial Performance of U.S. Farm Businesses, 1987-1990." Pub. No. AER-66, USDA/Economic Research Service, Washington, DC, August 1986.
53. Musser, W. N., and F. C. White. "The Impact of Management on Farm Expansion and Survival." S. J. Agr. Econ. 7(1975):63-69.
54. Mykrantz, J. L., L. G. Hamm, and L. J. Connor. "An Analysis of Selected Management Practices and Demographic Characteristics of Michigan Dairy Farms." Agr. Econ. Rep. No. 537, Dept, of Agr. Econ., Michigan State University, July 1990.
55. Nelson, R. R., and E. S. Phelps. "Investment in Humans, Technological Diffusion, and Economic Growth." Amer. Econ. Rev. 56(May 1966):69-75.
56. Newbery, D. M. G., and J. Stiglitz. The Theory of Commodity Price Stabilization, chapters 12 and 13. London: Clarendon Press, 1981.
57. O'Brien, P. M. "Implications for Public Policy." In Food and Agricultural Markets: The Quiet Revolution, eds., L. P. Schertz and L. M. Daft. Washington, DC: National Planning Association, 1994.
58. Osbum, D. D. "An Analysis of Factors Influencing Loan Losses Among Production Credit Associations." Farm Credit Administration Res. J. 3(1978): 18-24.
59. Patrick, G. R. "Producers' Attitudes, Perceptions, and Management Responses to Variability." In Risk Analysis for Agricultural Production Firms: Concepts, Information Requirements, and Policy Issues, pp. 197-256. Pub. No. AE-4574, Dept, of Agr. Econ., University of Illinois, July 1984.
60. Pearse, R. A. "A Study of Relationships Used in Farm Record Analysis." Res. Bull. 911, Agr. Exp. Sta., University of Missouri, Columbia, 1966.
61. Plumley, G. O., and R. H. Hombaker. "Financial Management Characteristics of Successful Farm Firms." Agr. Fin. Rev. 51(1991):9-20.
62. Purdy, B. M., M. R. Langemeier, and A. M. Featherstone. "Financial Performance, Risk, and Specialization." J. Agr. and Appl Econ. 29(July 1997): 149-61.
63. Putler, D. S., and D. A. Zilberman. "Computer Use in Agriculture: Evidence from Talure County, California." Amer. J. Agr. Econ. 70(1988):790-802.
64. Rahm, M. A., and W. E. Huffman. 'The Adoption of Reduced Tillage: The Role of Human Capital and Other Variables." Amer. J. Agr. Econ. 66(1984):405-13.
65. Romain, R., and D. Sumner. "Supply Management: Where Is It Heading?" Paper presented at annual meetings of the AAEA, Chicago, IL, 5-8 August 2001.
66. Ryan, J. T., D. L. Peacock, and J. E. Perry. "Financial Prospects, Business Organization, and Management: Farm Business Challenges." Paper presented at the Agricultural Outlook Forum '98, Washington, DC, 1998.
67. Sonka, S. T., R. H. Hombaker, and M. A. Hudson. "Managerial Performance and Income Variability for a Sample of Illinois Cash Grain Producers." N. Cent. J. Agr. Econ. 11(1989):39-47.
68. Sonka, S. T., and G. F. Patrick. "Risk Management and Decision Making in Agricultural Firms." In Risk Management in Agriculture, ed., P. J. Barry. Ames, IA: Iowa State University Press, 1984.
69. Stanton, B. F. "Perspective on Farm Size." Amer. J. Agr. Econ. 60(1978):727-37.
70. Sumner, D. A., and J. D. Leiby. "An Econometric Analysis of the Effects of Human Capital on Size and Growth Among Dairy Farms." Amer. J. Agr. Econ. 69(1987):465-70.
71. Taha, H. A. Operations Research: An Introduction, 2nd ed. New York: Macmillan Publishing Co., Inc., 1976.
72. Tauer, L. W., and K. Belbase. "Technical Efficiency of New York Dairy Farms." Northeast J. Agr. and Resour. Econ. 16(1987): 10-16.
73. Theil, H. Statistical Decomposition Analysis. Amsterdam: North-Holland, 1972.
74. U.S. Department of Agriculture. Economic Indicators of the Farm Sector: Costs of Production-Mcgor Field Crops and Livestock and Dairy, 1991. Pub. No. ECIFS 11-3, USDA/Economic Research Service, Washington, DC, February 1994.
75. U.S. Department of Agriculture. "1994 Farm Costs and Returns Survey" (FCRS). Annual farm survey, jointly conducted by Economic Research Service and National Agricultural Statistics Service, USDA, Washington, DC, 1994. [The FCRS is currently known as the Agricultural Resource Management Study (ARMS) survey.]
76. U.S. Department of Agriculture. "Farmers' Use of Marketing and Production Contracts." Agr. Econ. Rep. No. 747, USDA/Economic Research Service, Washington, DC, December 1996.
77. U.S. Department of Agriculture. 1997 Census of Agriculture. USDA/National Agricultural Statistics Service, Washington, DC, March 1999.
78. Warren, S. W. "Factors for Success of Dairy and General Farms in Northern Livingston County, New York." Bulletin No. 242, Cornell University, Ithaca, NY, 1932.
79. Weersink, A., and L. W. Tauer. "Regional and Temporal Impacts of Technical Change in the U.S. Dairy Sector." Amer. J. Agr. Econ. 72(1990):923-34.
80. Welch, F. "Education in Production." J. Polit. Econ. 78(January/February 1970): 35-39.
81. Wemerfelt, B., and C. A. Montgomery. "Tobin's q and the Importance of Focus in Firm Performance." Amer. Econ. Rev. 78(March 1988):246-50.
82. Wissman, R. A. "Marketing Coordination in Agricultural Cooperatives." ACS Research Rep. No. 159, Rural Business and Cooperative Services, Washington DC, September 1997.
83. Wood, M. A., R. G. Johnson, and M. B. Ali. "Performance Factors and Management Practices Related to Earnings of East Central North Dakota Crop Farms." Agr. Econ. Rep. No. 224, North Dakota State University, August 1987.
84. Wozniak, G. D. "The Adoption of Interrelated Innovations: A Human Capital Approach." Rev. Econ. and Statis. 66(February 1984):70-79.
85. Zepeda, L. "Adoption of Capital versus Management Intensive Technologies." Can. J. Agr. Econ. 38(1990):457-69.