Succession Decisions in U.S. Family Farm Businesses
Farm transfer or succession by the "next generation" holds a place of central importance in the determination of industry structure and total number of farmers and has profound implications for farm families. The family farm sector relies heavily on intergenerational succession. Succession...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Western Agricultural Economics Association
2010-04-01
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| Series: | Journal of Agricultural and Resource Economics |
| Subjects: | |
| Online Access: | https://ageconsearch.umn.edu/record/61055 |
| _version_ | 1819141343849480192 |
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| author | Ashok K. Mishra Hisham S. El-Osta Saleem Shaik |
| author_facet | Ashok K. Mishra Hisham S. El-Osta Saleem Shaik |
| author_sort | Ashok K. Mishra |
| collection | DOAJ |
| description | Farm transfer or succession by the "next generation" holds a place of central importance in the determination of industry structure and total number of farmers and has profound implications for farm families. The family farm sector relies heavily on intergenerational succession. Succession and retirement are linked and reflective of the life cycles of the farm household and the farm business. A large farm-level data set and a logistic regression model were used to examine the determinants of farm succession decisions in the United States, with special emphasis given to the treatment of endogenous wealth and farm size variables. Results point to the importance of farmer's age, educational attainment of farm operators, off-farm work by the operator or operator and spouse, expected household wealth, and farm business location on the decision to have succession plans. |
| first_indexed | 2024-12-22T11:52:57Z |
| format | Article |
| id | doaj.art-074eb26bb4d64e949f1ac63427897e21 |
| institution | Directory Open Access Journal |
| issn | 1068-5502 2327-8285 |
| language | English |
| last_indexed | 2024-12-22T11:52:57Z |
| publishDate | 2010-04-01 |
| publisher | Western Agricultural Economics Association |
| record_format | Article |
| series | Journal of Agricultural and Resource Economics |
| spelling | doaj.art-074eb26bb4d64e949f1ac63427897e212022-12-21T18:26:55ZengWestern Agricultural Economics AssociationJournal of Agricultural and Resource Economics1068-55022327-82852010-04-0135113315210.22004/ag.econ.6105561055Succession Decisions in U.S. Family Farm BusinessesAshok K. MishraHisham S. El-OstaSaleem ShaikFarm transfer or succession by the "next generation" holds a place of central importance in the determination of industry structure and total number of farmers and has profound implications for farm families. The family farm sector relies heavily on intergenerational succession. Succession and retirement are linked and reflective of the life cycles of the farm household and the farm business. A large farm-level data set and a logistic regression model were used to examine the determinants of farm succession decisions in the United States, with special emphasis given to the treatment of endogenous wealth and farm size variables. Results point to the importance of farmer's age, educational attainment of farm operators, off-farm work by the operator or operator and spouse, expected household wealth, and farm business location on the decision to have succession plans.https://ageconsearch.umn.edu/record/61055educationendogeneityfarm household wealthfarm transferhousehold incomeintergenerational successionlogit modeloff-farm work |
| spellingShingle | Ashok K. Mishra Hisham S. El-Osta Saleem Shaik Succession Decisions in U.S. Family Farm Businesses Journal of Agricultural and Resource Economics education endogeneity farm household wealth farm transfer household income intergenerational succession logit model off-farm work |
| title | Succession Decisions in U.S. Family Farm Businesses |
| title_full | Succession Decisions in U.S. Family Farm Businesses |
| title_fullStr | Succession Decisions in U.S. Family Farm Businesses |
| title_full_unstemmed | Succession Decisions in U.S. Family Farm Businesses |
| title_short | Succession Decisions in U.S. Family Farm Businesses |
| title_sort | succession decisions in u s family farm businesses |
| topic | education endogeneity farm household wealth farm transfer household income intergenerational succession logit model off-farm work |
| url | https://ageconsearch.umn.edu/record/61055 |
| work_keys_str_mv | AT ashokkmishra successiondecisionsinusfamilyfarmbusinesses AT hishamselosta successiondecisionsinusfamilyfarmbusinesses AT saleemshaik successiondecisionsinusfamilyfarmbusinesses |