Intergenerational Succession on Family Farms: Evidence from Survey Data
AbstractThis study examines family farms and characteristics affecting farm succession. Based on a farm survey, three aspects of succession are analysed in the paper: the probability of family succession; the likelihood of having a successor designated; and the timing of succession. Large and specialised farms are more likely to be transferred within the family and to have appointed a successor. The number of family members, as well as the experience of farm operator, is also significantly related to the succession behaviour. The probabilities of succession, and of having a successor, first increase with age and then decline again. Furthermore, timing of succession is delayed as the farm holder ages, suggesting most farm operators' succession plans to be inconsistent over time. In addition, we find a significant interrelationship between the different aspects of succession indicating that decisions on family succession, the designation of a successor, as well as the timing of succession, are not separable.
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Bibliographic InfoPaper provided by European Association of Agricultural Economists in its series 2002 International Congress, August 28-31, 2002, Zaragoza, Spain with number 24918.
Date of creation: 2002
Date of revision:
farm succession; survey data; econometric analysis; Farm Management;
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