| Registro completo |
| Provedor de dados: |
AgEcon
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| País: |
United States
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| Título: |
Farm Capital Structure Choice under Credit Constraint: Theory and Application
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| Autores: |
Wu, Feng
Guan, Zhengfei
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| Data: |
2008-05-08
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| Ano: |
2008
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| Palavras-chave: |
Capital Structure
Cost of Debt
Credit Constraint
Quantile Regression
Agricultural Finance
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| Resumo: |
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.
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| Tipo: |
Conference Paper or Presentation
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| Idioma: |
Inglês
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| Identificador: |
30152
http://purl.umn.edu/6130
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| Relação: |
American Agricultural Economics Association>2008 Annual Meeting, July 27-29, 2008, Orlando, Florida
Selected Paper
470697
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| Formato: |
27
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