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A Note on Farmers' Retirement and Succession Considerations: Evidence from a Household Survey

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  • Ayal Kimhi
  • Ramon Lopez

Abstract

Retirement and succession considerations of family farm operators in Maryland are considered in this paper. Retirement decisions are found to be mainly determined by personal considerations, and only secondary importance is given to succession considerations. However, the relative importance of succession considerations is positively related to the importance of the farm enterprise relative to other income‐generating activities of the family. The conclusion is that retirement and succession decisions in family farms are not separable.

Suggested Citation

  • Ayal Kimhi & Ramon Lopez, 1999. "A Note on Farmers' Retirement and Succession Considerations: Evidence from a Household Survey," Journal of Agricultural Economics, Wiley Blackwell, vol. 50(1), pages 154-162, January.
    • Handle: RePEc:bla:jageco:v:50:y:1999:i:1:p:154-162
    DOI: 10.1111/j.1477-9552.1999.tb00802.x
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    8. Ayal Kimhi, 1995. "Differential Human Capital Investments and the Choice of Successor in Family Farms," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 77(3), pages 719-724.
    9. Loren W. Tauer, 1985. "Use of Life Insurance to Fund the Farm Purchase from Heirs," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(1), pages 60-69.
    10. Kimhi, Ayal, 1996. "Off-Farm Work Decisions of Farmers Over the Life Cycle: Evidence from Panel Data," Working Papers 232798, Hebrew University of Jerusalem, Center for Agricultural Economic Research.
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    Cited by:

    1. Ashok Mishra & Hisham El-Osta, 2008. "Effect of agricultural policy on succession decisions of farm households," Review of Economics of the Household, Springer, vol. 6(3), pages 285-307, September.
    2. Davidova, Sophia & Thomson, Kenneth J, 2014. "Family Farming in the Enlarged EU: Concepts, challenges and prospects," 142nd Seminar, May 29-30, 2014, Budapest, Hungary 170155, European Association of Agricultural Economists.
    3. Glauben, Thomas & Tietje, Hendrik & Weiss, Christoph R., 2002. "Intergenerational Succession on Family Farms: Evidence from Survey Data," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24918, European Association of Agricultural Economists.
    4. Glauben, Thomas & Tietje, Hendrik & Weiss, Christoph R., 2005. "Analysing Family Farm Succession: A Probit and a Competing Risk Approach," 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark 24699, European Association of Agricultural Economists.
    5. Madior Fall & Muriel Roger, 2008. "L’impact de la réforme de 1990 sur les décisions de départ à la retraite des exploitants agricoles français," Review of Agricultural and Environmental Studies - Revue d'Etudes en Agriculture et Environnement, INRA Department of Economics, vol. 89(4), pages 29-53.
    6. Vare, Minna & Weiss, Christoph R. & Pietola, Kyosti, 2005. "Should One Trust a Farmer's Succession Plan? Empirical Evidence on the Intention-Behaviour Discrepancy from Finland," 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark 24622, European Association of Agricultural Economists.
    7. Andrew P. Barnes, 2023. "The role of family life‐cycle events on persistent and transient inefficiencies in less favoured areas," Journal of Agricultural Economics, Wiley Blackwell, vol. 74(1), pages 295-315, February.
    8. Shin, Mika W. & Loughrey, Jason & Dillon, Emma & Geoghegan, Cathal, 2022. "Economic and Social Drivers of Farm Succession in Ireland," 96th Annual Conference, April 4-6, 2022, K U Leuven, Belgium 321164, Agricultural Economics Society - AES.
    9. M.A.P.M. van Asseldonk & H.B. van der Veen & H.A.B. van der Meulen, 2010. "Retirement planning by Dutch farmers: rationality or randomness?," Agricultural Finance Review, Emerald Group Publishing Limited, vol. 70(3), pages 365-376, November.
    10. Alessandro Corsi, 2005. "The Lack of Successors in Family Farms," QA - Rivista dell'Associazione Rossi-Doria, Associazione Rossi Doria, issue 4, November.
    11. Protopop, Iuliia & Boehlje, Michael & Stockton, Matthew & Bradley, Lubben, 2016. "The Effect of the Timing of Farm Transfer Initiation on Terminal Wealth in the Business: Simulation Model," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 236006, Agricultural and Applied Economics Association.
    12. Denis Nadolnyak & Valentina Hartarska & Bretford Griffin, 2019. "The Impacts of Economic, Demographic, and Weather Factors on the Exit of Beginning Farmers in the United States," Sustainability, MDPI, vol. 11(16), pages 1-17, August.
    13. Vare, Minna, 2005. "Timing of the Early Retirement Decisions of Farming Couples," 94th Seminar, April 9-10, 2005, Ashford, UK 24412, European Association of Agricultural Economists.
    14. Zou, Baoling & Mishra, Ashok K. & Luo, Biliang, 2018. "Aging population, farm succession, and farmland usage: Evidence from rural China," Land Use Policy, Elsevier, vol. 77(C), pages 437-445.
    15. Vare, Minna, 2005. "Spousal Effect and Timing of Farmers' Early Retirement Decisions," 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark 24696, European Association of Agricultural Economists.
    16. Dudek, Michał, 2016. "A matter of family? An analysis of determinants of farm succession in Polish agriculture," Studies in Agricultural Economics, Research Institute for Agricultural Economics, vol. 118(2), pages 1-7, August.
    17. Glauben, Thomas & Tietje, Hendrik & Weiss, Christoph R., 2002. "Farm Succession Plans And Actual Behaviour: Evidence From A Household Survey And Census Data," 2002 Annual meeting, July 28-31, Long Beach, CA 19691, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    18. Đurđica ŽUTINIĆ & Ivo GRGIĆ, 2010. "Family farm inheritance in Slavonia region, Croatia," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 56(11), pages 522-531.
    19. Glauben, Thomas & Tietje, Hendrik & Weiss, Christoph R., 2004. "Sussession In Agriculture: A Probit And Competing Risk Analysis," 2004 Annual meeting, August 1-4, Denver, CO 20067, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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