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| Registros recuperados: 40 | |
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| Schnitkey, Gary D.; Barry, Peter J.; Ellinger, Paul N.. |
| This article describes the properties of the Farm Financial Simulation Model (FFSM). FFSM is a tool for analyzing the financial consequences of various managerial strategies and policy options that may be implemented in responding to farm financial stress. Various farm types from different geographical regions having differing enterprises, financial structures, tenure arrangements, and consumption patterns can be analyzed. The emphasis of FFSM is placed on modeling a farm's profitability, liquidity, solvency, and financial position and the model produces a coordinated set of financial statements and an extensive set of financial ratios over a four-year period. |
| Tipo: Journal Article |
Palavras-chave: Farm Management. |
| Ano: 1987 |
URL: http://purl.umn.edu/30195 |
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| Bard, Sharon K.; Barry, Peter J.. |
| The 1996 Farm Bill and low commodity prices have regenerated interest in the impact of risk and farmers' risk attitudes on production agriculture. Previous research has used expected utility theory (EUT) and direct elicitation of utility functions (DEU) for eliciting risk attitudes. To overcome the criticism of EUT and DEU, a recently developed technique called the "closing in" method is adapted for eliciting farmers' risk attitudes. This method is applied to Illinois farmers by using a computerized decision procedure, and is validated by comparing the results to the farmers' self-assessment of their risk attitudes and score to a risk attitudinal scale. |
| Tipo: Journal Article |
Palavras-chave: Risk and Uncertainty. |
| Ano: 2001 |
URL: http://purl.umn.edu/31153 |
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| Robison, Lindon J.; Barry, Peter J.; Burghardt, William G.. |
| This paper extends finance theory under risk to account for borrowing behavior under financial stress conditions. As the financial stress level for the firm increases, the role of credit or unused borrowing capacity changes. With a strong equity position, credit is valued as a reserve to avoid liquidation costs resulting from the sale of fixed assets to meet cash flow obligations. As the financial stress on the firm increases the model demonstrates the firms willingness to reduce credit reserves and increase its financial leverage in order to increase its probability of survival. These results are derived in a tractable framework by describing risky alternatives in terms of expected values and variances. |
| Tipo: Journal Article |
Palavras-chave: Financial Economics. |
| Ano: 1987 |
URL: http://purl.umn.edu/32236 |
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| Barry, Peter J.; Ellinger, Paul N.. |
| In light of recent developments in agricultural credit evaluations, this study employs a multiperiod simulation model that endogenizes farm investment decisions, credit evaluations, and loan pricing based on the credit scoring procedures of agricultural lender. Model results show that credit-scored pricing yields time patterns of performance, credits classifications, and interest rates that parallel the firms investment, financing, and debt servicing activities. Moreover, the lenders price responses dampen growth incentives as credit worthiness diminished, stimulate growth as credit improves, and lead to similar capital structures over time. |
| Tipo: Journal Article |
Palavras-chave: Agricultural Finance. |
| Ano: 1989 |
URL: http://purl.umn.edu/32464 |
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| Durguner, Seda; Barry, Peter J.; Katchova, Ani L.. |
| This paper uses FBFM (Illinois Farm Business Farm Management Association) data to analyze several key factors in the decision to categorize borrowers into acceptable or problematic and to classify borrowers across five classes. Net worth does not play significant role in the decision process for livestock farms, whereas it is significantly important for crop farms. For livestock farms, tenure ratio is not significant across classes and is generally not significant across categories depending on the cut off point used to describe acceptable or problematic borrower. However, it is significant for crop farms. Working capital to gross farm return, return on farm assets, and asset turnover ratio are all significant for both farm types. The operating expense... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Financial Economics. |
| Ano: 2006 |
URL: http://purl.umn.edu/21431 |
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| Taheripour, Farzad; Katchova, Ani L.; Barry, Peter J.. |
| While traditional finance theory suggests that leasing and debt are substitutes, some papers demonstrated the theoretical possibility of complementarity. Empirical studies indicate that both are possible. In this paper we will use the Tobit model, ordinary least squares and quantile regression techniques to study the relationship between leasing and debt in farm capital structure in Illinois. Our results indicate that leasing and debt are close to perfect substitutes and leased assets are less risky than debt-financed assets in Illinois farms. The results from the quantile regression help us to capture the effects of farm characteristics on the distribution of leased to assets ratio. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agricultural Finance. |
| Ano: 2002 |
URL: http://purl.umn.edu/19636 |
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| Bard, Sharon K.; Barry, Peter J.. |
| This study adapts a methodology formulated in the social sciences to develop a scale for measuring an economic agents attitude toward risk. The scale assesses risk attitudes by eliciting farmers opinions towards risk management tools using a Likert procedure. The methodology validates the scale with a scientific risk attitude measure and compares the scale to the farmers self-assessment of their risk attitudes. The resulting scale methodology could be administered to people without the need for personal interviews. The subjects for this study were Midwestern farmers, but the methodology can be applied to any sector of the agricultural industry. |
| Tipo: Journal Article |
Palavras-chave: Risk and Uncertainty. |
| Ano: 2000 |
URL: http://purl.umn.edu/34573 |
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| Deng, Xiaohui; Escalante, Cesar L.; Barry, Peter J.; Yu, Yingzhuo. |
| This paper introduces two continuous time models, i.e. time homogenous and non-homogenous Markov chain models, for analyzing farm credit migration as alternatives to the traditional discrete time model cohort method. Results illustrate that the two continuous time models provide more detailed, accurate and reliable estimates of farm credit migration rates than the discrete time model. Metric comparisons among the three transition matrices show that the imposition of the potentially unrealistic assumption of time homogeneity still produces more accurate estimates of farm credit migration rates, although the equally reliable figures under the non-homogenous time model seem more plausible given the greater relevance and applicability of the latter model to... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agricultural Finance. |
| Ano: 2004 |
URL: http://purl.umn.edu/20062 |
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| Schnitkey, Gary D.; Taylor, C. Robert; Barry, Peter J.. |
| This paper examines farmland investment decisions using a stochastic dynamic programming framework. Consideration is given to the dynamic, stochastic nature of farmland returns, linkages between farmland returns and farmland prices, and the effects of the above dynamic factors on a farms financial structure. Optimal decisions to purchase or sell farmland are found for a central Illinois farm with high quality farmland. Sizes and debt distributions are then determined, given that the optimal decision rule is followed. Decisions from the dynamic programming model also are compared to a capital budgeting model. |
| Tipo: Journal Article |
Palavras-chave: Land Economics/Use. |
| Ano: 1989 |
URL: http://purl.umn.edu/32457 |
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| Lajili, Kaouthar; Barry, Peter J.; Sonka, Steven T.; Mahoney, Joseph T.. |
| An empirical approach combining elements of principal-agent theory and transaction cost economics is used to determine farmers' preferences for contract terms in crop production. The approach is tested by asking grain farmers to rank contract choices and specify price premiums in simulated case situations. The statistical results indicate that farmers' preferences for rates of cost sharing, price premiums, and financing arrangements are significantly influenced by asset specialization and uncertainty associated with the case situations, and by selected business and personal characteristics. |
| Tipo: Journal Article |
Palavras-chave: Farm Management. |
| Ano: 1997 |
URL: http://purl.umn.edu/30859 |
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| Escalante, Cesar L.; Barry, Peter J.. |
| This study provides farm-level empirical support to the Risk-Balancing Hypothesis using Illinois grain farm data. The econometric results indicate that risk-balancing farmers comprise more than half of the sample. These farmers tend to be older, have higher leasing ratios, are less financially efficient and manage risk through crop specialization, enterprise diversification, and marketing strategies in addition to risk balancing. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Risk and Uncertainty. |
| Ano: 2001 |
URL: http://purl.umn.edu/20617 |
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| Registros recuperados: 40 | |
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