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Structure and Finances of U.S. Farms: Family Farm Report, 2007 Edition AgEcon
Hoppe, Robert A.; Korb, Penelope J.; O'Donoghue, Erik J.; Banker, David E..
U.S. farms are diverse, ranging from small retirement and residential farms to enterprises with annual sales in the millions. Nevertheless, most U.S. farms—98 percent in 2004—are family farms. Even the largest farms tend to be family farms. Large-scale family farms and nonfamily farms account for 10 percent of U.S farms, but 75 percent of the value of production. In contrast, small family farms make up most of the U.S. farm count, produce a modest share of farm output, and receive substantial off-farm income. Many farm households have a large net worth, reflecting the land-intensive nature of farming.
Tipo: Report Palavras-chave: Contracting; Family farms; Farm businesses; Farm financial performance; Farm-operator household income; Farm operators; Farm structure; Farm type; Million-dollar farms; Small farms; ERS; USDA; Agricultural and Food Policy; Farm Management.
Ano: 2007 URL: http://purl.umn.edu/59032
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Structural and Financial Characteristics of U.S. Farms: 2001 Family Farm Report AgEcon
Johnson, James D.; Perry, Janet E.; Korb, Penelope J.; Sommer, Judith E.; Ryan, James T.; Green, Robert C.; Durst, Ron L.; Monke, James D..
Family farms vary widely in size and other characteristics, ranging from very small retirement and residential farms to establishments with sales in the millions of dollars. The farm typology developed by the Economic Research Service (ERS) categorizes farms into groups based primarily on occupation of the operator and sales class of the farm. The typology groups reflect operators' expectations from farming, position in the life cycle, and dependence on agriculture. The groups differ in their importance to the farm sector, product specialization, program participation, and dependence on farm income. These (and other) differences are discussed in this report.
Tipo: Report Palavras-chave: Agricultural Resource Management Study (ARMS); Family farms; Farm businesses; Farm financial situation; Farm operator household income; Farm operators; Farm structure; Farm typology; Female farm operators; Government payments; Spouses of farm operators; Taxes; Agricultural Finance; Farm Management.
Ano: 2001 URL: http://purl.umn.edu/33707
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America's Diverse Family Farms: 2010 Edition AgEcon
Hoppe, Robert A.; Banker, David E.; MacDonald, James M..
American farms vary widely in size and other characteristics, but farming is still an industry of family businesses. Ninety-eight percent of farms are family farms, and they account for 82 percent of farm production. Small family farms make up most of the U.S. farm count and hold the majority of farm assets, but they produce a modest share of U.S. farm output. In contrast, large-scale family farms and nonfamily farms—only 12 percent of all farms—account for 84 percent of farm production. Small farms are less profitable than large-scale farms, on average, and the households operating them tend to rely on off-farm income for their livelihood. Because small-farm households receive most of their income from off-farm work, general economic policies—such as tax...
Tipo: Report Palavras-chave: Family farms; Farm businesses; Farm financial performance; Farm-operator household income; Farm operators; Farm structure; Farm type; Government payments; Limited-resource farms; Small farms; ERS; USDA; Agribusiness; Agricultural Finance; Farm Management.
Ano: 2010 URL: http://purl.umn.edu/96653
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BROADACRE FARM PRODUCTIVITY AND PROFITABILITY IN SOUTH WESTERN AUSTRALIA AgEcon
Islam, Nazrul; Xayavong, Vilaphonh; Kingwell, Ross S..
This paper examines broadacre farm performance in south-western Australia. This region has experienced pronounced climate variability and volatile commodity prices over the last decade or so. Relationships between productivity and profitability are explored using panel data from 50 farms in the study region. The data are analysed using non-parametric methods. Components of farm productivity and profitability are measured over the period 1998 to 2008. Economies of scale and scope are shown often to be positive contributors to productivity and profitability. However, the main finding is that technical change, much more so than technical efficiency, has supplied over 68 percent of the improvement in total factor productivity for farms in the different...
Tipo: Conference Paper or Presentation Palavras-chave: Productivity; Profitability; Technical change; Farm businesses; Farm Management; Productivity Analysis; Research and Development/Tech Change/Emerging Technologies.
Ano: 2011 URL: http://purl.umn.edu/100565
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Structure and Finances of U.S. Farms: 2005 Family Farm Report AgEcon
Hoppe, Robert A.; Banker, David E..
Most farms in the United States—98 percent in 2003—are family farms. They are organized as proprietorships, partnerships, or family corporations. Even the largest farms tend to be family farms, although they are more likely to have more than one operator. Very large family farms and nonfamily farms account for a small share of farms but a large—and growing—share of farm sales. Small family farms account for most of the farms in the United States but produce a modest share of farm output. Median income for farm households is 10 percent greater than the median for all U.S. households, and small-farm households receive substantial off-farm income. Many farm households have a large net worth, reflecting the land-intensive nature of farming.
Tipo: Report Palavras-chave: Agricultural Resource Management Survey (ARMS); Family farms; Farm businesses; Farm financial performance; Farm-operator household income; Farm operators; Farm structure; Farm type; Multiple-operator farms; Multiple-generation farms; Small farms; Contracting; Farm Management.
Ano: 2006 URL: http://purl.umn.edu/59404
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Signaling Credit Risk in Agriculture: Implications for Capital Structure Analysis AgEcon
Zhao, Jianmei; Barry, Peter J.; Katchova, Ani L..
Signaling is an important element in the lender-borrower relationship that influences the cost and availability of debt capital to agricultural borrowers. This paper analyzes the effects of signaling on farm capital structure in conjunction with the pecking order and trade-off theories. The aggregate estimation indicates that signaling does affect agricultural credit relationships through measures of past cash flow and profitability. High-quality borrowers achieve greater credit capacity by providing lenders with valid signals of their financial status, while adjusting toward target debt levels over time and following the pecking order relationship in the short run.
Tipo: Journal Article Palavras-chave: Farm businesses; Pecking order theory; Signaling theory; Trade-off theory; Agribusiness; Risk and Uncertainty; G11; G32; Q14.
Ano: 2008 URL: http://purl.umn.edu/47260
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America's Diverse Family Farms: Structure and Finances AgEcon
Hoppe, Robert A.; MacDonald, James M.; Banker, David E..
American farms vary widely in size and other characteristics, but farming is still an industry of family businesses. Ninety-eight percent of farms are family farms, and they account for 86 percent of farm production. Very small farms are growing in number, and small family farms continue to own most farmland. But production is shifting toward very large family farms. Because small-farm households receive most of their income from off-farm work, general economic policies—such as tax policy or economic development policy—can be as important to them as traditional farm policy.
Tipo: Report Palavras-chave: Agricultural Resource Management Survey (ARMS); Family farms; Farm businesses; Farm financial performance; Farm-operator household income; Farm operators; Farm structure; Farm type; Multiple-operator farms; Multiple-generation farms; Small farms; ERS; Agribusiness.
Ano: 2006 URL: http://purl.umn.edu/59406
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Million-Dollar Farms in the New Century AgEcon
Hoppe, Robert A.; Korb, Penelope J.; Banker, David E..
Million-dollar farms—those with annual sales of at least $1 million—accounted for about half of U.S. farm sales in 2002, up from a fourth in 1982 (with sales measured in constant 2002 dollars). By 2006, million-dollar farms, accounting for 2 percent of all U.S. farms, dominated U.S. production of high-value crops, milk, hogs, poultry, and beef. The shift to million-dollar farms is likely to continue because they tend to be more profitable than smaller farms, giving them a competitive advantage. Most million-dollar farms (84 percent) are family farms, that is, the farm operator and relatives of the operator own the business. The million-dollar farms organized as nonfamily corporations tend to have no more than 10 stockholders.
Tipo: Report Palavras-chave: Contracting; Family farms; Farm businesses; Farm financial performance; Farm-operator household income; Farm operators; Farm structure; Farm type; Million-dollar farms; Farm Management.
Ano: 2008 URL: http://purl.umn.edu/58623
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Small Farms in the United States: Persistence Under Pressure AgEcon
Hoppe, Robert A.; MacDonald, James M.; Korb, Penelope J..
Ninety-one percent of U.S. farms are classified as small—gross cash farm income (GCFI) of less than $250,000. About 60 percent of these small farms are very small, generating GCFI of less than $10,000. These very small noncommercial farms, in some respects, exist independently of the farm economy because their operators rely heavily on off-farm income. The remaining small farms—small commercial farms—account for most small-farm production. Overall farm production, however, continues to shift to larger operations, while the number of small commercial farms and their share of sales maintain a long-term decline. The shift to larger farms will continue to be gradual, because some small commercial farms are profitable and others are willing to accept losses.
Tipo: Report Palavras-chave: Family farms; Farm businesses; Farm financial performance; Farm-operator household income; Farm operators; Farm structure; Noncommercial farms; Small farms; Small commercial farms; Agricultural and Food Policy; Farm Management.
Ano: 2010 URL: http://purl.umn.edu/58300
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Changes in Debt Patterns and Financial Structure of Farm Businesses: A Double Hurdle Approach AgEcon
Harris, James Michael; Dillard, John; Erickson, Kenneth W.; Hallahan, Charles B..
This paper uses a double hurdle model to help explain one aspect of the changing capital structure of U.S. production agriculture--the increase in the number of debt free farms. Our findings suggest that nonfinancial factors, such as operator age, region, risk aversion, and financial factors such as debt service ability and the cost of capital play significant roles in distinguishing borrowers from non borrowers.
Tipo: Conference Paper or Presentation Palavras-chave: Farm debt; Farm credit; Double-hurdle model; Farm businesses; Agricultural Finance.
Ano: 2009 URL: http://purl.umn.edu/49402
Registros recuperados: 10
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