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| Alarcón, Silverio. |
| In this work the effects of large- and short-term debts on efficiency are tested on a set of agricultural firms. Accounting data of crop, livestock, mixed and service firms are used. First, the efficiencies of the farms are obtained by using nonparametric methods (input-oriented DEA). Then, in a second stage, censored regressions are run with different kinds of explicative variables, including financial ratios. The results show a significative and positive relationship between short-term indebtedness and efficiency, which would be agree with some theories positing that firms with higher short-run obligations make additional efforts to satisfy their payments, and this leads to an improvement of efficiency. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Debt financing; Efficiency; Agricultural sector; Nonparametric methods; Agricultural Finance. |
| Ano: 2007 |
URL: http://purl.umn.edu/9436 |
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| Alarcón, Silverio. |
| Firm panel data sets over the period 1993 to 2002 are used to estimate translog production functions with labour, capital and material inputs for 9 Spanish food industries. To tackle the endogeneity of the regressors, the generalized method of moments estimations is employed. The specification tests reject the instrument variables only for 1 out of 9 estimates. The remaining 8 industries show evidence of homogeneity and constant returns to scale. Only one industry exhibits complete separability of all pairs of factors and thus translog is preferred to Cobb-Douglas specification for 7 industries. Substitutability and complementarity between production factors in response to price changes are studied through Morishima and Shadow elasticities.... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Translog; Elasticity of substitution; Generalized method of moments; Returns to scale; Agribusiness; C23; D24; L66. |
| Ano: 2005 |
URL: http://purl.umn.edu/24487 |
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| Alarcón, Silverio. |
| Trade credit is an important way of firm financing. Its habitual practice and the excessive enlargement of the payment periods deteriorate profitability of firms and even could affect the performance of the financial system. In spite of the relevance of this issue there are few empirical researches with Spanish firms. This work intends to fill this gap and to shed light on the factors related to the extension of trade credit in a set firms of the agrofood industry. In the theoretic and empirical literature different motives have been proposed to explain the extension of trade credit: a mechanism to reduce transaction costs, a financial alternative to the bank system and an additional tool to improve commercial activities. To contrast these ideas a panel of... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Trade credit; Agrofood industry; Firm panel data; Agribusiness. |
| Ano: 2008 |
URL: http://purl.umn.edu/43861 |
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