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| Registros recuperados: 1.703 | |
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| Wang, Xiaoyang; Garcia, Philip. |
| Price volatility in the corn market has changed considerably globalization and stronger linkages to the energy complex. Using data from January 1989 through December 2009, we estimate and forecast the volatility in the corn market using futures daily prices. Estimates in a Fractional Integrated GARCH framework identify the importance of long memory, seasonality, and structural change. Recursively generated forecasts for up to 40-day horizons starting in January 2005 highlight the importance of seasonality, and long memory specifications which perform well at more distant horizons particularly with rising volatility. The forecast benefits of allowing for structural change in an adaptive framework are more difficult to identify except at more distant... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Corn price volatility; Long memory; Seasonality; Structural change; Forecasting; Agricultural Finance; Risk and Uncertainty. |
| Ano: 2011 |
URL: http://purl.umn.edu/103749 |
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| Wu, Feng; Guan, Zhengfei. |
| This study proposed a theoretical framework for analyzing farm capital structure choice. The theoretical model recognizes that the costs of debt are endogenously determined which in turn reflect the degree of credit constraint faced by individual borrowers. Based on the proposed model, we derived the impacts of different determinants on capital structure choice analytically. The theoretical inferences are further tested with empirical data. Methodologically, we proposed a fixed-effect quantile regression procedure to estimate the impacts of determinants at different ranges of leverage. The effects of determinants are discussed in the empirical application. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Capital Structure; Cost of Debt; Credit Constraint; Quantile Regression; Agricultural Finance. |
| Ano: 2008 |
URL: http://purl.umn.edu/6130 |
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| Dietz, Sarah N.; Aulerich, Nicole M.; Irwin, Scott H.; Good, Darrel L.. |
| The purpose of this paper is to investigate the marketing performance of wheat farmers in Illinois and Kansas over 1982-2004. The results show that farmer benchmark prices for wheat in Illinois and Kansas fall in the middle-third of the price range about half to three-quarters of the time. Consistent with previous studies, this refutes the contention that Illinois and Kansas wheat farmers routinely market the bulk of their wheat crop in the bottom portion of the price range. Tests of the average difference between farmer and market benchmark prices are sensitive to the market benchmark considered. Marketing performance of wheat farmers in Illinois and Kansas is about equal to the market if 24- or 20-month market benchmarks are used, is slightly above the... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Benchmarks; Illinois; Kansas; Marketing; Performance; Price; Wheat; Agricultural Finance. |
| Ano: 2008 |
URL: http://purl.umn.edu/37622 |
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| Petrick, Martin; Ditges, C. Markus. |
| On the basis of portfolio selection theory, this paper finds that whole-farm risk must be regarded as a major reason for the low level of credit flow to agriculture in North-western Kazakhstan. A quadratic programming model was used in order (a) to demonstrate the comparatively high overall risk exposition of a typical farm, (b) to show that an inflow of working capital could contribute to risk reduction, and (c) to illustrate short-term risk management strategies. Although there may be a role for the government in reducing risk exposition of agriculture in its current form, natural and economic constraints suggest to pave the way for structural reforms that reduce the importance of agriculture in the rural economy. . |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agricultural credit; Kazakhstan; Portfolio selection theory; Risk programming; Agricultural Finance; Q14; G11; C61. |
| Ano: 2000 |
URL: http://purl.umn.edu/14939 |
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| Dahlgran, Roger A.. |
| Recently developed ethanol futures contracts now allow direct-hedging by ethanol producers. This study examines the effectiveness of one-through eight-week hedges between 2005 and 2008. Our findings show (a) ethanol inventory hedging effectiveness is significant for two-week and longer hedges, and increases with the hedging horizon; (b) ethanol futures are significantly superior to gasoline futures for hedging ethanol price risk for two-week and longer hedges; (c) the corn crushing hedge, utilizing corn and ethanol futures, is effective and provides price risk management capabilities comparable to those provided by the soybean crush hedge. |
| Tipo: Journal Article |
Palavras-chave: Corn crushing; Cross-hedging; Ethanol futures; Hedging; Processing hedge; Agricultural Finance; Crop Production/Industries. |
| Ano: 2009 |
URL: http://purl.umn.edu/50081 |
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| McIntosh, Christopher S.; Shumway, C. Richard. |
| A restricted profit function model of California agriculture is specified and estimated subject to prior information provided by economic theory. Symmetry, homogeneity, and convexity of the profit function are maintained in the estimation. Parameter estimates and elasticities are presented for four input and 10 output equations. Tests of the hypotheses of nonjointness in inputs and Hicks-neutral technical change in variable inputs and outputs are rejected. The impacts of decoupling agricultural program payments are examined. |
| Tipo: Journal Article |
Palavras-chave: Agricultural Finance. |
| Ano: 1991 |
URL: http://purl.umn.edu/32610 |
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| Ciaian, Pavel; Pokrivcak, Jan; Szegenyova, Katarina. |
| In this paper we estimate the impact of CAP subsidies on farm bank loans. According to the theoretical results, if subsidies are paid at the beginning of the growing season they may reduce bank loans, whereas if they are paid at the end of the season they increase bank loans, but these results are conditional on credit constraint and on the relative cost of internal and external financing. In empirical analysis we use the FADN farm level panel data for period 1995-2007. We employ the fixed effects and the GMM models to estimate the impact of subsidies on farm loans. The estimated results suggest that (i) subsidies influence farm loans and the effects tend to be non-linear and indirect; (ii) both coupled and decoupled subsidies stimulate long-term farm... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agricultural Finance. |
| Ano: 2011 |
URL: http://purl.umn.edu/114289 |
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| Boucher, Robert W.; Vandeveer, Lonnie R.. |
| The purpose of this report is to supplement the series of annual cost projections for enterprises by providing profitability and cash flow projections for several whole farm situations throughout the state. Whole farm projections of returns and expenses are expected to provide information regarding the relative profitability of individual farming situations throughout the state. Estimates from cash flow projections provide information concerning the timing of cash flows and the distribution of cash flows for individual farm situations and comparison of estimates for these situations provide an indication of the relative cash flow positions of farms across the state. These projections are expected to be of value to farmers, agricultural credit agencies,... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agricultural Finance; Farm Management. |
| Ano: 1997 |
URL: http://purl.umn.edu/31664 |
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| Bokusheva, Raushan; Bezlepkina, Irina V.; Kupavych, Alexander. |
| The study analyzes the investment behavior of Russian farms during the period of economic stabilization that followed the financial crisis of 1998. While the literature primarily uses accelerator and adjustment costs models to describe farms investment behavior in the context of transition countries, our study reveals that error-correction formulation of the investment equation is more suited to analyzing Russian farms investment patterns. In addition, by distinguishing between different categories of farms, we reveal significant differences in the investment patterns, not only across farms both with and without access to external finance, but also across mature and newly-established farms, owner- and employee-managed farms, and farms with high and low... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Dynamic investment models; Error-correction investment equation; Russia.; Agricultural Finance. |
| Ano: 2007 |
URL: http://purl.umn.edu/7803 |
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| Hodur, Nancy M.; Bangsund, Dean A.; Coon, Randal C.; Leistritz, F. Larry. |
| Production agriculture in the 4-state area of southwestern North Dakota, southeastern Montana, northeastern Wyoming and northwestern South Dakota has faced serious economic challenges. In the mid-1990's, a growing number of recreational land buyers purchased land for wildlife habitat and hunting, rather than for farm derived income. A survey of the area was done to determine land ownership characteristics, information about land that was rented and leased out, and attitudes toward key issues facing landowners and farm and ranch operators. The average landowner owned 3,089.4 acres comprised mainly of pastureland/rangeland (2,242.6 acres) and cropland (473.3 acres). Ownership of farmland was primarily from purchases (70.6 percent) and inheritance (26.1... |
| Tipo: Technical Report |
Palavras-chave: Land ownership patterns; Lease/rental agreements; Absentee ownership; Production agriculture; Agricultural Finance; Farm Management; Financial Economics; Land Economics/Use; Production Economics. |
| Ano: 2012 |
URL: http://purl.umn.edu/120258 |
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| Registros recuperados: 1.703 | |
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