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Dairy Farm Management and Long-Term Farm Financial Performance

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  • Gloy, Brent A.
  • Hyde, Jeffrey
  • LaDue, Eddy L.
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    Abstract

    The financial performance and relationships between several management factors and financial performance are examined in a panel of 107 New York dairy farms. A panel regression model with fixed effects is estimated in an effort to identify management factors that influence profitability. The model is estimated with two-stage least squares to account for endogenous farm size and debt use variables. Production management factors such as farm size, rate of milk production, and milking system had a positive impact on farm profitability. Financial management variables for the type of accounting system used and the debt use were also significantly related to profitability. Unlike the findings of many other studies, measures of human capital did not have a statistically significant impact on profitability.

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    Bibliographic Info

    Article provided by Northeastern Agricultural and Resource Economics Association in its journal Agricultural and Resource Economics Review.

    Volume (Year): 31 (2002)
    Issue (Month): 2 (October)
    Pages:

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    Handle: RePEc:ags:arerjl:31394

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    Web page: http://www.narea.org/
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    Related research

    Keywords: Farm Management;

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    Cited by:
    1. Micheels, Eric T. & Gow, Hamish R., 2011. "Market orientation and firm performance across value disciplines in the Illinois beef sector," International Journal of Agricultural Management, Institute of Agricultural Management & International Farm Management Association, vol. 1(2), October.
    2. McDonald, Roberta & Karina, Pierce & Reamonn, Fealy & Horan, Brendan, 2013. "Characteristics, intentions and expectations of new entrant dairy farmers entering the Irish dairy industry through the New Entrant Scheme," International Journal of Agricultural Management, Institute of Agricultural Management & International Farm Management Association, vol. 2(4), July.
    3. Joo, Hyunjeong & Khanal, Aditya R. & Mishra, Ashok K., 2013. "Farmers’ Participation in Agritourism: Does It Affect the Bottom Line?," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 42(3), December.
    4. repec:ebl:ecbull:v:17:y:2008:i:12:p:1-10 is not listed on IDEAS
    5. Christopher A. Wolf & Frank Lupi & Stephen Harsh, 2011. "Farmer demand for financial record-keeping system attributes," Agricultural Finance Review, Emerald Group Publishing, vol. 71(2), pages 259-276, July.
    6. Sporri, Martina & Barath, Lajos & Bokusheva, Raushan & Ferto, Imre, 2012. "The Impact of Crop Insurance on the Economic Performance of Hungarian Cropping Farms," 123rd Seminar, February 23-24, 2012, Dublin, Ireland 122525, European Association of Agricultural Economists.
    7. Joshua D. Detre & Hiroki Uematsu & Ashok K. Mishra, 2011. "The influence of GM crop adoption on the profitability of farms operated by young and beginning farmers," Agricultural Finance Review, Emerald Group Publishing, vol. 71(1), pages 41-61, May.

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