Data/hora: 09/06/2024 07:32:01

Provedor de dados: | Research in Agricultural & Applied Economics (AgEcon Searh)
País: | United States
Título: | Competing Risk Proportional Hazard Models of Farm Service Agency Direct Operating Loans
Autores: | Dixon,   Bruce L.; Ahrendsen,   Bruce L.; Foianini,   Monica; Hamm,   Sandra J.; Danforth,   Diana M.
Data: | 2009-03-10
Ano: | 2008
Palavras-chave: | Duration; Farm Service Agency; Direct loans; Competing risks; Agricultural Finance; Risk and Uncertainty; C29; G28; Q12; Q14.
Resumo: | The USDA Farm Service Agency (FSA) direct farm loan program is designed to provide credit to family-sized farms unable to obtain credit from conventional sources at reasonable rates and terms despite having sufficient cash flow to repay and an ability to fully securitize the loan.  FSA policy encourages borrowers to exit the program as soon as possible.  This study uses Cox proportional hazard models in a competing risks framework to identify predictive factor of: (1) loan success or default, and (2) length of time to loan termination. Survey data from 1925 direct loans originated in federal fiscal years 1994-95 are used for analysis. Only data available to FSA at time of origination were collected. Since these data are all the information FSA has at time of loan origination, the competing risk models provide an alternative method for measuring priori relative riskiness indicated by borrower and loan characteristics.  Results indicate that borrower financial strength, intensity of borrowers' current relationship with FSA and loan characteristics are significant measures of loan risk.
Tipo: | Journal Article
Idioma: | Inglês
Identificador: | http://purl.umn.edu/48140
Relação: | Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition&gt;2007 Proceedings: Agricultural and Rural Finance Markets in Transition, October 4-5, 2007, St. Louis, Missouri
Formato: | 24