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| Registros recuperados: 23 | |
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| Ahrendsen, Bruce L.; Bierlen, Ralph W.; Langemeier, Larry N.; Dixon, Bruce L.. |
| Theoretically, leasing and debt are thought to be substitutes. This assumes that a lease payment, which is a fixed obligation like a loan, displaces debt and reduces debt capacity, i.e., if firms have optimal debt to equity ratios, then, to the extent that it represents "off-balance-sheet" financing, leasing reduces debt capacity. Ang and Peterson-the seminal work in the literature-fit Tobit models with 1976 to 1981 data from 600 firms in which a leasing to book value of equity ratio is the dependent variable and a debt to book value of equity ratio and other variables are the explanatory variables. Contrary to expectations, their model results indicate that leasing and debt are complementary activities. This study follows the Ang and Peterson... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agricultural Finance; Land Economics/Use. |
| Ano: 1999 |
URL: http://purl.umn.edu/21671 |
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| Parsch, Lucas D.; Bierlen, Ralph W.; Ahrendsen, Bruce L.; Dixon, Bruce L.. |
| Major innovations of the 1996 FAIR Act are PFC payments and almost complete planting flexibility. Because payments are attached to the land and not production, landlords are thought to capture most of the PFC payments. With the use of a November 1997 operator survey of cropland leasing arrangements in the Mississippi Delta of Arkansas, the current study investigates changes in crop mixes on leased land, operator attitudes concerning the operator/landlord sharing of FAIR Act benefits, and changes in leasing arrangements as a results of the FAIR Act. Although a number of operators agree that landlords disproportionately benefit from the FAIR Act, about three-quarters felt that there was not change or had no opinion. Similarly, we find little evidence... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agricultural and Food Policy; Public Economics. |
| Ano: 1998 |
URL: http://purl.umn.edu/20892 |
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| Rainey, Ronald L.; Dixon, Bruce L.; Ahrendsen, Bruce L.; Parsch, Lucas D.; Bierlen, Ralph W.. |
| Land leasing is a major source of the land input to production agriculture. Responses from a survey of landlords leasing crop land in Arkansas are analyzed to better understand those factors motivating landlords in the type of lease they select and the terms of those leases. Probit models are estimated to determine the relative importance of variables representing credit constraint, agency problem, and risk aversion factors. Regression models then estimate the impact of site, landlord, and tenant characteristics on contract terms the percentage of crop and cost sharing arrangements between landlord and tenant. Probit results suggest credit constraint factors influence lease-type selection. Risk aversion, managerial ability, and social capital factors are... |
| Tipo: Journal Article |
Palavras-chave: Land leasing; Probit; Contract; Production agriculture; Land Economics/Use. |
| Ano: 2005 |
URL: http://purl.umn.edu/8175 |
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| Ahrendsen, Bruce L.. |
| The paper assesses the farm financial problems in the Slovak Republic and provides recommendations for improving the situation. Although positive changes have occurred in the financing of agriculture in the Slovak Republic since becoming an independent country in 1993, problems still remain. Many farms remain unprofitable, farms still have old debt that was issued prior to 1990 and uncollectible debt that was issued since 1990, farms are not paid promptly for the products they sell, and there continues to be difficulty in farms attracting credit. Recommendations for improving the delinquent farm liquidation decision, farm profitability, prompt payment, and credit access are provided. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agricultural Finance. |
| Ano: 2000 |
URL: http://purl.umn.edu/15779 |
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| Rainey, Ronald L.; Dixon, Bruce L.; Parsch, Lucas D.; Ahrendsen, Bruce L.; Bierlen, Ralph W.. |
| Landlord satisfaction levels with agricultural land-leasing agreements are examined with a 1998 sample of Arkansas landowners. Ordered probit models are estimated identifying which factors significantly affect satisfaction levels. Results indicate that the type of lease is not a significant determinant of landlord satisfaction levels. Proportion of landlord’s income from leasing, tenant educational background, social capital variables, presence of irrigation equipment, and perceptions about the FAIR Act were found to significantly affect lease satisfaction in at least one of the three satisfaction models estimated. A comparison with an earlier study of Arkansas tenants indicates landlords have generally higher satisfaction levels. |
| Tipo: Journal Article |
Palavras-chave: Cropland contracts; Landlord satisfaction; Leasing; Probit models; L14; Q12; Q24. |
| Ano: 2003 |
URL: http://purl.umn.edu/43156 |
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| Ahrendsen, Bruce L.; Dixon, Bruce L.; Priyanti, Atien. |
| Changes in commercial bank market shares of farm debt are decomposed into portfolio decisions loanable funds availability and loan market size for 64 counties in Arkansas from 1986 through 1990. A seemingly unrelated regression model is hypothesized to identify county characteristics that are related to changes in commercial bank market shares. Regression results indicate that county differences in economic activity, the relative risk associated with agriculture, farm structure and regional location contributed to changes in commercial bank market shares. The results imply a market niche for rural commercial banks emphasizing agricultural loans in the presence of unlimited branch banking. |
| Tipo: Journal Article |
Palavras-chave: Banks; Farm debt; Loan portfolio; Market share; Agricultural Finance. |
| Ano: 1994 |
URL: http://purl.umn.edu/15172 |
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| Dixon, Bruce L.; Ahrendsen, Bruce L.; Nwoha, Ogbonnaya John; Hamm, Sandra J.; Danforth, Diana M.. |
| Farm Service Agency (FSA) direct loans are intended to provide transitory credit to creditworthy borrowers unable to obtain conventional credit at reasonable terms. Farm loan program (FLP) effectiveness is measured in part by how readily direct loan borrowers graduate to conventional credit. A survey of FSA borrowers originating direct loans during fiscal years 1994-1996 is utilized to estimate graduation rates. A majority of 1994-1996 loan originators did exit the direct FLP by November 2004. A multinomial logit model indicates financial strength at origination resulted in greater likelihood of farming without direct loans approximately nine years after loan origination. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agricultural Finance. |
| Ano: 2006 |
URL: http://purl.umn.edu/21452 |
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| Ahrendsen, Bruce L.. |
| A dual cost function approach is developed as an alternative to time series and simplistic approaches for estimating farmers' expected operating rates of return on assets. A translog restricted cost function is estimated using data provided by 152 North Carolina dairy farmers over the period 1976 through 1986. The predicted costs from the fitted restricted cost function are used to construct estimates of farmers' expected operating rates of return on assets. The estimates from this structural approach explain more of the variation in observed rates than do time series estimates or sample mean observed rates. |
| Tipo: Journal Article |
Palavras-chave: Estimating expectations; Rate of return; Translog cost function; Agricultural Finance. |
| Ano: 1993 |
URL: http://purl.umn.edu/15042 |
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| Ahrendsen, Bruce L.; Dixon, Bruce L.; Lee, Laderrek T.. |
| In an era of rapid consolidation in banking, the effect of mergers on the availability of credit to agricultural businesses is unclear. Commercial bank mergers have profoundly altered the urban credit marketplace and are positioned to do the same for the agricultural credit marketplace. Adjustment models are estimated with data on independent bank consolidations from 1988 through 1995. The regression results bode well for agricultural lending if acquiring banks have larger concentrations of assets in agriculture than acquired banks. Conversely, if acquiring banks have smaller concentrations than acquired banks, acquisitions have a negative impact on agricultural lending. Since most acquiring banks have smaller agricultural loan concentrations than... |
| Tipo: Journal Article |
Palavras-chave: Acquisition; Agricultural loan portfolio; Banks; Consolidation; Merger; Agricultural Finance; Industrial Organization. |
| Ano: 1999 |
URL: http://purl.umn.edu/15363 |
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| Ahrendsen, Bruce L.; Koenig, Steven R.; Dixon, Bruce L.; Dodson, Charles B.; Settlage, Latisha A.. |
| The Farm Security and Rural Investment Act of 2002 made permanent the interest assistance program for the Farm Service Agency's guaranteed loans, authorized a significant increase in funding for the program, and targeted funding for beginning farmers and ranchers. The research presented here provides a basic descriptive analysis of past use. In particular, borrower data for Federal fiscal years 1985 through 2002 are examined in several dimensions. These dimensions include geographic, borrower type, lender type, interest rate differentials, percent guarantee, and the status of the loan as to whether a loss claim was paid or the loan remained active. Even though the program has been in existence for more than 15 years, little is known about its impact... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agricultural and Food Policy; Agricultural Finance. |
| Ano: 2004 |
URL: http://purl.umn.edu/15778 |
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| Registros recuperados: 23 | |
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