|
|
|
|
|
| O'Toole, Conor M.; Newman, Carol F.; Hennessy, Thia C.. |
| This paper uses a fundamental Q model of investment to consider the role played by financing frictions in agricultural investment decisions, controlling econometrically for censoring, heterogeneity and errors-in-variables. Our findings suggest that farmer's investment decisions are not driven by market fundamentals. We find some evidence that debt overhang restricts investment but investment is not dependent on liquidity or internal funds. The role of financing frictions in determining investment decisions changes in the post-financial crisis period when debt overhang becomes a significant impediment to farm investment. The evidence suggests that farmers increasingly rely on internal liquidity to drive investment. Finally, we find no evidence that farmers... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Credit Constraints; Firm Level Investment; Tobin's Q; Debt; Agricultural Finance; G31; G32; F34. |
| Ano: 2011 |
URL: http://purl.umn.edu/114568 |
| |
|
|
| Clancy, Daragh; Kazukauskas, Andrius; Newman, Carol F.; Thorne, Fiona S.. |
| This paper conducts a detailed, micro-focused investigation on the implications of recent agricultural policy changes on the structure of production systems in Ireland, Denmark and the Netherlands in terms of farm numbers, system switching, specialisation, the role of economies of scale, on-farm investment, off-farm employment and economic viability. Given the close relationship between farm structure and agricultural production, the impact of the recent CAP reform on production decisions should give a good indication of the form agricultural structural change will take. Two competing hypotheses of post decoupling structural change are proposed; a ‘production inducing effect’ and an ‘expectations effect’. Using Irish, Danish and Dutch micro-data, which are... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Policy Reform; Agricultural Structural Change; FADN; Agricultural and Food Policy; Farm Management. |
| Ano: 2010 |
URL: http://purl.umn.edu/60913 |
| |
|
| |
|
|
| Carroll, J.; Greene, S.; O'Donoghue, Cathal; Newman, Carol F.; Thorne, Fiona S.. |
| The competitiveness and productivity of Irish agriculture has been at the forefront of debate in recent times given successive and impending changes to agricultural policy. This paper examines the trend in total factor productivity in Irish agriculture over the recent past and explores the effects of specific variables on relative efficiency levels. The findings of this research have shown that productivity growth was highest in the Cattle Rearing sector followed by the Dairy, Cattle Finishing, Sheep and Cereals sectors during the period 1996 to 2006. The research has also shown that efficiency levels are, in general, positively correlated with extension use soil quality, the overall size of the farm, the level of intensification and the level of... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Production Economics. |
| Ano: 2009 |
URL: http://purl.umn.edu/50941 |
| |
|
| |
|
| |
|
| |
|
|
|
