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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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| 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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