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THE IMPACT OF FARM SUCCESSION DECISIONS ON THE FINANCIAL PERFORMANCE OF THE FARM

James Michael Harris, Ashok Mishra () and Robert P. Williams

No 124749, 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington from Agricultural and Applied Economics Association

Abstract: Farm succession by the “next generation” is a key factor in the determination of industry structure and the total number of farmers and has profound implications for farm families which rely heavily on intergenerational succession. Our results indicate that, in addition to farm, operator, and off-farm work variables, succession plans have a positive and significant effect on financial performance, both in terms of higher profit margins and returns to equity. Further, we also find that farms with designated family successors have higher financial performance, both in terms of higher profits margins and returns to equity.

Keywords: Farm; Management (search for similar items in EconPapers)
Pages: 20
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea12:124749

DOI: 10.22004/ag.econ.124749

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