Financial Constraints and Farm Investment: A Bayesian Examination
AbstractThis study contributes to the q-based empirical investment literature by using a Bayesian approach to analyze the impact of internal financial variables on a q-based investment model, accounting specifically for variable selection and incorporating outliers explicitly within the advocated modeling framework. For the balanced panel analyzed, a farm's liquidity situation is found to affect its investment significantly. Incorporation of an outlier detection component changes the results drastically, in both the variables chosen and the parameter estimates. The results and the nature of most investment data suggest that not accounting for outliers may lead to inaccurate inference.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoPaper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 11469.
Date of creation: 01 Jan 2004
Date of revision:
Publication status: Published in Journal of Business & Economic Statistics 2004, vol. 22, pp. 51-63
Contact details of provider:
Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
Phone: +1 515.294.6741
Fax: +1 515.294.0221
Web page: http://www.econ.iastate.edu
More information through EDIRC
Other versions of this item:
- Hart, Chad E & Lence, Sergio H, 2004. "Financial Constraints and Farm Investment: A Bayesian Examination," Journal of Business & Economic Statistics, American Statistical Association, American Statistical Association, vol. 22(1), pages 51-63, January.
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Olsen, Jakob Vesterlund & Pederson, Michael Friis, 2011. "An Empirical Analysis of Access to Finance for Danish Farms: Understanding Investment and the Absence of Risk Management," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland, European Association of Agricultural Economists 114591, European Association of Agricultural Economists.
- Han, Chaodong & Porterfield, Tobin & Li, Xiaolin, 2012. "Impact of industry competition on contract manufacturing: An empirical study of U.S. manufacturers," International Journal of Production Economics, Elsevier, Elsevier, vol. 138(1), pages 159-169.
- Kandilov, Amy & Kandilov, Ivan, 2013. "The Impact of Interstate Bank Branching Deregulations on the U.S. Agricultural Sector: From Better Access to Credit to Higher Farm Sales and Profits," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C., Agricultural and Applied Economics Association 149820, Agricultural and Applied Economics Association.
- Lence, Sergio H., 2008. "How Much Can We Learn About Producers' Utility Functions from Their Production Data?," Proceedings:2008 Agricultural and Rural Finance Markets in Transition, September 25-26, 2008, Kansas City, Missouri, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Tran 119534, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition.
- Lence, Sergio H., 2009. "Ajae Appendix For Â€Œjoint Estimation Of Risk Preferences And Technology: Flexible Utility Or Futility?Â€," American Journal of Agricultural Economics Appendices, Agricultural and Applied Economics Association, Agricultural and Applied Economics Association, vol. 91(3), August.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Stephanie Bridges) The email address of this maintainer does not seem to be valid anymore. Please ask Stephanie Bridges to update the entry or send us the correct address.
If references are entirely missing, you can add them using this form.