Analysing Family Farm Succession: A Probit and a Competing Risk Approach
AbstractThe present study examines family and farm characteristics affecting the choice and the timing of intergenerational farm transfers. Using survey data which are linked to accounting data for 272 farms in Northern Germany, we use a probit approach to examine whether specific farm and family characteristics are related to the likelihood of succession within a given period. We go beyond the existing literature by applying a competing risk approach to study the process and thus the timing, respectively of the two competing events succession or exit from farming. We find that farm characteristics significantly influence succession considerations to the extent that they affect the value of the farm for the potential successor.
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Bibliographic InfoPaper provided by European Association of Agricultural Economists in its series 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark with number 24699.
Date of creation: 2005
Date of revision:
intrafamily succession; survey data; competing risk; Farm Management; Q12; J26;
Find related papers by JEL classification:
- Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
- J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
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