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The Influence of Personality and The Financial Risk Management Competency of Dairy Farmers in Preparing for Industry Deregulation in SE Queensland

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  • Marchant, David

Abstract

It is believed that personality traits, as expounded in the Five-Factor Model of personality, influence objective performance data with respect to various occupations. It is hypothesized that some dairy farmers in S.E. Queensland will, by virtue of their personality traits, be more open to changing circumstances in the vastly different business environment of the deregulated dairy industry. By examining the personality traits of dairy farmers, and linking the possession of certain personality traits to either the possession of, or the ability to acquire, a pyramid of financial risk management competencies, it is hypothesized that some farmers’ competencies will be able to be upgraded easily, that another group will need to outsource services at particular levels on the pyramid (since they won’t have the ability to upgrade their competencies), and that a third group may be able to upgrade their competencies through education. These findings will have implications for the allocation of resources in industry restructuring programs.

Suggested Citation

  • Marchant, David, 2001. "The Influence of Personality and The Financial Risk Management Competency of Dairy Farmers in Preparing for Industry Deregulation in SE Queensland," 2001 Conference (45th), January 23-25, 2001, Adelaide, Australia 125772, Australian Agricultural and Resource Economics Society.
    • Handle: RePEc:ags:aare01:125772
    DOI: 10.22004/ag.econ.125772
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    References listed on IDEAS

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    1. Nuthall, Peter L., 1999. "Managerial Ability (The Forgotten Resource) Its Assessment And Modification," 1999 Conference (43th), January 20-22, 1999, Christchurch, New Zealand 124495, Australian Agricultural and Resource Economics Society.
    2. Sturgess, Neil H., 1993. "Some Thoughts on Competency Standards," 1993 Conference (37th), February 9-11, 1993, Sydney, Australia 147405, Australian Agricultural and Resource Economics Society.
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    Keywords

    Risk and Uncertainty;

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