SUCCESSION IN FAMILY FARM BUSINESS: EMPIRICAL EVIDENCE FROM THE U.S. FARM SECTOR

Ashok Mishra (), Hisham S. El-Osta and James D. Johnson

No 20114, 2004 Annual meeting, August 1-4, Denver, CO from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Survival of many family farms is dependent on successful intergenerational transfer. Given the importance of succession in the farm sector, the purpose of this paper is to examine factors that are likely to influence succession decisions on U.S. farms. The paper uses 2001 ARMS data and a multinomial Logit (MNL) regression to estimate family succession, non-family succession, and farm exit decisions of farm households in the U.S. Model choice and specification issues are discussed. Results indicate that operator's education, household wealth, growth in farm size, and farm debt are important factors that determine succession decisions. Additionally, farm specialization is taken into consideration when farm operators make their succession plans.

Keywords: Farm; Management (search for similar items in EconPapers)
Pages: 29
Date: 2004
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea04:20114

DOI: 10.22004/ag.econ.20114

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