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Analysing Family Farm Succession: A Probit and a Competing Risk Approach

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  • Glauben, Thomas
  • Tietje, Hendrik
  • Weiss, Christoph R.
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    Abstract

    The 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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    File URL: http://purl.umn.edu/24699
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    Bibliographic Info

    Paper provided by European Association of Agricultural Economists in its series 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark with number 24699.

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    Date of creation: 2005
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    Handle: RePEc:ags:eaae05:24699

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    Related research

    Keywords: intrafamily succession; survey data; competing risk; Farm Management; Q12; J26;

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    1. 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.
    2. Ayal Kimhi & Noga Nachlieli, 2001. "Intergenerational Succession on Israeli Family Farms," Journal of Agricultural Economics, Wiley Blackwell, vol. 52(2), pages 42-58.
    3. Maria Dolores Montoya Diaz, 1999. "Extended stay at university: an application of multinomial logit and duration models," Applied Economics, Taylor & Francis Journals, vol. 31(11), pages 1411-1422.
    4. Nerlove, Marc & Razin, Assaf & Sadka, Efraim, 1984. "Investment in Human and Nonhuman Capital, Transfers among Siblings, and the Role of Government," Econometrica, Econometric Society, vol. 52(5), pages 1191-98, September.
    5. Ralph Chami, 2001. "What is Different About Family Businesses?," IMF Working Papers 01/70, International Monetary Fund.
    6. Pesquin, Claudio & Kimhi, Ayal & Kislev, Yoav, 1999. "Old Age Security and Inter-Generational Transfer of Family Farms," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 26(1), pages 19-37, March.
    7. Miljkovic, Dragan, 2000. "Optimal timing in the problem of family farm transfer from parent to child: an option value approach," Journal of Development Economics, Elsevier, vol. 61(2), pages 543-552, April.
    8. Mario Cleves & William W. Gould & Roberto G. Gutierrez & Yulia Marchenko, 2010. "An Introduction to Survival Analysis Using Stata," Stata Press books, StataCorp LP, edition 3, number saus3, July.
    9. Bernard F. Lentz & David N. Laband, 1990. "Entrepreneurial Success and Occupational Inheritance among Proprietors," Canadian Journal of Economics, Canadian Economics Association, vol. 23(3), pages 563-79, August.
    10. Mishra, Ashok K. & El-Osta, Hisham S. & Johnson, James D., 2004. "Succession In Family Farm Business: Empirical Evidence From The U.S. Farm Sector," 2004 Annual meeting, August 1-4, Denver, CO 20114, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
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