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Provedor de dados:  AgEcon
País:  United States
Título:  Excess Capital in Agricultural Production
Autores:  Kumbhakar, Subal C.
Guan, Zhengfei
Oude Lansink, Alfons G.J.M.
Data:  2007-06-27
Ano:  2007
Palavras-chave:  Agricultural production
Capital requirement
Endogeneity
Excess capital
Fixed effect
Maximum likelihood estimation
Stochastic frontier
Production Economics
Resumo:  In this article we propose a theoretical model for analyzing capital requirement in agricultural production and define excess capital thereupon. We develop a two-step method that allows endogenous regressors in the maximum likelihood estimation. The two-step procedure is also capably of recovering the parameters of time invariant variables in fixed effect models. The model and method are applied to a capital requirement study using data from cash crop farms in the Netherlands. Empirical results show that excess capital widely exists on the farm. The implications of excess capital are further demonstrated with a production frontier analysis.
Tipo:  Conference Paper or Presentation
Idioma:  Inglês
Identificador:  26342

http://purl.umn.edu/9813
Editor:  AgEcon Search
Relação:  American Agricultural Economics Association>2007 Annual Meeting, July 29-August 1, 2007, Portland, Oregon
Selected Paper 174010
Formato:  32

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