Working Capital and Stock Returns for American Agribusiness Firms

Trejo-Pech, Carlos Omar, Richard N. Weldon and Michael A. Gunderson ()

No 6266, 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Using the Economic Research Service classification as the framework to categorize agribusinesses, this study provides a characterization of the American food supply chain for the 1970-2004 period. Accounting data and stock returns are provided for subsets of agribusinesses by 3-digit SIC industries. Results for agribusinesses are compared to previous results for the complete U.S. market. In addition, aggregate results for agribusiness are contrasted to previous results of agribusinesses disaggregated by level of accruals, the difference between cash flows and earnings. This leads us to highlight the importance of working capital in the food supply chain. Preliminary working capital results for agribusinesses are provided.

Keywords: Agribusiness (search for similar items in EconPapers)
Date: 2008
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Persistent link: http://EconPapers.repec.org/RePEc:ags:aaea08:6266

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