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Dairy Farm Management and Long-Term Farm Financial Performance

Author

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  • Gloy, Brent A.
  • Hyde, Jeffrey
  • LaDue, Eddy L.

Abstract

The financial performance and relationships between several management factors and financial performance are examined in a panel of 107 New York dairy farms. A panel regression model with fixed effects is estimated in an effort to identify management factors that influence profitability. The model is estimated with two-stage least squares to account for endogenous farm size and debt use variables. Production management factors such as farm size, rate of milk production, and milking system had a positive impact on farm profitability. Financial management variables for the type of accounting system used and the debt use were also significantly related to profitability. Unlike the findings of many other studies, measures of human capital did not have a statistically significant impact on profitability.

Suggested Citation

  • Gloy, Brent A. & Hyde, Jeffrey & LaDue, Eddy L., 2002. "Dairy Farm Management and Long-Term Farm Financial Performance," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 31(2), October.
  • Handle: RePEc:ags:arerjl:31394
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    File URL: http://purl.umn.edu/31394
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    References listed on IDEAS

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    1. Van Houtven, George L. & Cropper, Maureen L. & DEC, 1994. "When is a life too costly to save? : evidence from U.S. environmental regulations," Policy Research Working Paper Series 1260, The World Bank.
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    Cited by:

    1. Lajos Barath & Raushan Bokusheva & Imre Ferto, 2016. "Studying Farm Insurance Demand under Financial Constraints," IEHAS Discussion Papers 1625, Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences.
    2. McDonald, Roberta & Karina, Pierce & Reamonn, Fealy & Horan, Brendan, 2013. "Characteristics, intentions and expectations of new entrant dairy farmers entering the Irish dairy industry through the New Entrant Scheme," International Journal of Agricultural Management, Institute of Agricultural Management;International Farm Management Association, vol. 2(4), July.
    3. Christopher A. Wolf & Frank Lupi & Stephen Harsh, 2011. "Farmer demand for financial record-keeping system attributes," Agricultural Finance Review, Emerald Group Publishing, vol. 71(2), pages 259-276, August.
    4. Micheels, Eric T. & Gow, Hamish R., 2011. "Market orientation and firm performance across value disciplines in the Illinois beef sector," International Journal of Agricultural Management, Institute of Agricultural Management;International Farm Management Association, vol. 1(2), October.
    5. Wheeler, Sarah Ann & Zuo, Alec & Bjornlund, Henning, 2014. "Investigating the delayed on-farm consequences of selling water entitlements in the Murray-Darling Basin," Agricultural Water Management, Elsevier, vol. 145(C), pages 72-82.
    6. Joshua D. Detre & Hiroki Uematsu & Ashok K. Mishra, 2011. "The influence of GM crop adoption on the profitability of farms operated by young and beginning farmers," Agricultural Finance Review, Emerald Group Publishing, vol. 71(1), pages 41-61, May.
    7. Sporri, Martina & Baráth, Lajos & Bokusheva, Raushan & Ferto, Imre, 2012. "The Impact of Crop Insurance on the Economic Performance of Hungarian Cropping Farms," 123rd Seminar, February 23-24, 2012, Dublin, Ireland 122525, European Association of Agricultural Economists.
    8. Yeager, Elizabeth & Langemeier, Michael, 2009. "Measuring Sustained Competitive Advantage for a Sample of Kansas Farms," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers.
    9. Peter Howley & Emma Dillon, 2012. "Factors affecting the level of farm indebtedness: the role of farming attitudes," Working Papers 1201, Rural Economy and Development Programme,Teagasc.
    10. repec:ebl:ecbull:v:17:y:2008:i:12:p:1-10 is not listed on IDEAS
    11. Williams, John & McSweeney, Peter & Salmon, Robert, 2014. "Australian Farm Investment: Domestic and Overseas Issues," Australasian Agribusiness Perspectives 234408, University of Melbourne, Melbourne School of Land and Environment.
    12. Joo, Hyunjeong & Khanal, Aditya R. & Mishra, Ashok K., 2013. "Farmers’ Participation in Agritourism: Does It Affect the Bottom Line?," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 42(3), December.

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    Keywords

    Farm Management;

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