IDEAS home Printed from https://ideas.repec.org/a/ags/eiapai/166005.html
   My bibliography  Save this article

Aging and succession on Italian farms

Author

Listed:
  • Carillo, Felicetta
  • Carillo, Maria Rosaria
  • Venittelli, Tiziana
  • Zazzaro, Alberto

Abstract

The survival and competitiveness of the agricultural sector is increasingly threatened by the aging process of farmers and farms. In this perspective, the European Union has launched a number of initiatives directed towards favoring the entry of a new generation of young entrepreneurs in the agricultural sector. However, the way in which this transition occurs, whether via intra-family succession or via market transactions, may also have an influence on the economic performance of farms. In this paper, we test the influence of the age of the person who manages the farm and of intra-family succession on the economic performance of Italian farms. Our results indicate that younger farmers overperform and that inherited farms tend to under-perform.

Suggested Citation

  • Carillo, Felicetta & Carillo, Maria Rosaria & Venittelli, Tiziana & Zazzaro, Alberto, 2013. "Aging and succession on Italian farms," Politica Agricola Internazionale - International Agricultural Policy, Edizioni L'Informatore Agrario, vol. 2013(1), March.
    • Handle: RePEc:ags:eiapai:166005
    DOI: 10.22004/ag.econ.166005
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/166005/files/Carillo_et_al_2013.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.166005?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Alfred M. Stiglbauer & Christoph R. Weiss, 2000. "Family and Non-Family Succession in the Upper-Austrian Farm Sector," Cahiers d'Economie et Sociologie Rurales, INRA Department of Economics, vol. 54, pages 5-26.
    2. Mike Burkart & Fausto Panunzi & Andrei Shleifer, 2003. "Family Firms," Journal of Finance, American Finance Association, vol. 58(5), pages 2167-2201, October.
    3. Simeone, Mariarosaria, 2005. "The Generational Turnover in Agriculture: Theoretical Problems and Empirical Evidences," 94th Seminar, April 9-10, 2005, Ashford, UK 24434, European Association of Agricultural Economists.
    4. Huffman, Wallace E., 2001. "Human capital: Education and agriculture," Handbook of Agricultural Economics, in: B. L. Gardner & G. C. Rausser (ed.), Handbook of Agricultural Economics, edition 1, volume 1, chapter 7, pages 333-381, Elsevier.
    5. Villalonga, Belen & Amit, Raphael, 2006. "How do family ownership, control and management affect firm value?," Journal of Financial Economics, Elsevier, vol. 80(2), pages 385-417, May.
    6. David N. Laband & Bernard F. Lentz, 1983. "Occupational Inheritance in Agriculture," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 65(2), pages 311-314.
    7. Christoph R. Weiss, 1999. "Farm Growth and Survival: Econometric Evidence for Individual Farms in Upper Austria," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(1), pages 103-116.
    8. Mark R. Rosenzweig & Kenneth I. Wolpin, 1985. "Specific Experience, Household Structure, and Intergenerational Transfers: Farm Family Land and Labor Arrangements in Developing Countries," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 100(Supplemen), pages 961-987.
    9. 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).
    10. Shingo Kimura & Christine Le Thi, 2013. "Cross Country Analysis of Farm Economic Performance," OECD Food, Agriculture and Fisheries Papers 60, OECD Publishing.
    11. Francisco Pérez-González, 2006. "Inherited Control and Firm Performance," American Economic Review, American Economic Association, vol. 96(5), pages 1559-1588, December.
    12. Ayal Kimhi & Noga Nachlieli, 2001. "Intergenerational Succession on Israeli Family Farms," Journal of Agricultural Economics, Wiley Blackwell, vol. 52(2), pages 42-58, May.
    13. Gunnar Breustedt & Thomas Glauben, 2007. "Driving Forces behind Exiting from Farming in Western Europe," Journal of Agricultural Economics, Wiley Blackwell, vol. 58(1), pages 115-127, February.
    14. repec:bla:jfinan:v:58:y:2003:i:5:p:2167-2202 is not listed on IDEAS
    15. Marianne Bertrand & Antoinette Schoar, 2006. "The Role of Family in Family Firms," Journal of Economic Perspectives, American Economic Association, vol. 20(2), pages 73-96, Spring.
    16. B. L. Gardner & G. C. Rausser (ed.), 2001. "Handbook of Agricultural Economics," Handbook of Agricultural Economics, Elsevier, edition 1, volume 1, number 2.
    17. Barth, Erling & Gulbrandsen, Trygve & Schonea, Pal, 2005. "Family ownership and productivity: the role of owner-management," Journal of Corporate Finance, Elsevier, vol. 11(1-2), pages 107-127, March.
    18. Demsetz, Harold & Lehn, Kenneth, 1985. "The Structure of Corporate Ownership: Causes and Consequences," Journal of Political Economy, University of Chicago Press, vol. 93(6), pages 1155-1177, December.
    19. B. L. Gardner & G. C. Rausser (ed.), 2001. "Handbook of Agricultural Economics," Handbook of Agricultural Economics, Elsevier, edition 1, volume 1, number 1.
    20. Morten Bennedsen & Kasper Meisner Nielsen & Francisco Perez-Gonzalez & Daniel Wolfenzon, 2007. "Inside the Family Firm: The Role of Families in Succession Decisions and Performance," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 122(2), pages 647-691.
    21. Agrawal, Anup & Nagarajan, Nandu J, 1990. "Corporate Capital Structure, Agency Costs, and Ownership Control: The Case of All-Equity Firms," Journal of Finance, American Finance Association, vol. 45(4), pages 1325-1331, September.
    22. Gallerani, Vittorio & Gomez y Paloma, Sergio & Raggi, Meri & Viaggi, Davide, 2008. "Understanding The Determinants Of Investment Reactions To Decoupling," 109th Seminar, November 20-21, 2008, Viterbo, Italy 44841, European Association of Agricultural Economists.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Bertoni, Danilo & Cavicchioli, Daniele & Latruffe, Laure, 2017. "Performance post succession on Italian family farms," 2017 International Congress, August 28-September 1, 2017, Parma, Italy 261435, European Association of Agricultural Economists.
    2. Maietta, Ornella Wanda & De Devitiis, Biagia & Destefanis, Sergio & Suppa, Domenico, 2019. "Human capital and rural development policy: evidence from European FADN regions," Bio-based and Applied Economics Journal, Italian Association of Agricultural and Applied Economics (AIEAA), vol. 8(3), December.
    3. Anna Carbone & Felicetta Carillo & Pavel Ciaian & Roberta Sardone & Federico Antonioli & Juan Tur Cardona, 2024. "Does the European Union Start-Up Aid Help Young Farmers to Innovate and to Join Networks?," Agriculture, MDPI, vol. 14(10), pages 1-23, October.
    4. Coppola, A. & Ianuario, S. & Chinnici, G. & Di Vita, G. & Pappalardo, G. & D'Amico, D., 2018. "Endogenous and Exogenous Determinants of Agricultural Productivity: What Is the Most Relevant for the Competitiveness of the Italian Agricultural Systems?," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 10(2).
    5. Evgenia Micha & Owen Fenton & Karen Daly & Gabriella Kakonyi & Golnaz Ezzati & Thomas Moloney & Steven Thornton, 2020. "The Complex Pathway towards Farm-Level Sustainable Intensification: An Exploratory Network Analysis of Stakeholders’ Knowledge and Perception," Sustainability, MDPI, vol. 12(7), pages 1-20, March.
    6. Dudek, Michał & Pawłowska, Aleksandra, 2022. "Can succession improve the economic situation of family farms in the short term? Evidence from Poland based on panel data," Land Use Policy, Elsevier, vol. 112(C).
    7. Micha, Evgenia & Fenton, Owen & Daly, Karen & Kakonyi, Gabriella & Ezzati, Golnaz & Moloney, Thomas & Thornton, Steven F, 2019. "Mapping the pathways towards farm-level sustainable intensification of agriculture: an exploratory network 3 analysis of stakeholders’ views," SocArXiv 2rqjd, Center for Open Science.
    8. Bertoni, Danilo & Cavicchioli, Daniele & Latruffe, Laure, 2016. "Impact of succession on performance: The case of the Italian family farms," 149th Seminar, October 27-28, 2016, Rennes, France 245166, European Association of Agricultural Economists.
    9. Daniele Cavicchioli & Danilo Bertoni & Dario Gianfranco Frisio & Roberto Pretolani, 2019. "Does the future of a farm depend on its neighbourhood? Evidence on intra-family succession among fruit and vegetable farms in Italy," Agricultural and Food Economics, Springer;Italian Society of Agricultural Economics (SIDEA), vol. 7(1), pages 1-17, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Saito, Takuji, 2008. "Family firms and firm performance: Evidence from Japan," Journal of the Japanese and International Economies, Elsevier, vol. 22(4), pages 620-646, December.
    2. Lu, Yi & Tao, Zhigang, 2009. "Contract enforcement and family control of business: Evidence from China," Journal of Comparative Economics, Elsevier, vol. 37(4), pages 597-609, December.
    3. Morck, Randall & Deniz Yavuz, M. & Yeung, Bernard, 2011. "Banking system control, capital allocation, and economy performance," Journal of Financial Economics, Elsevier, vol. 100(2), pages 264-283, May.
    4. Mehrotra, Vikas & Morck, Randall & Shim, Jungwook & Wiwattanakantang, Yupana, 2013. "Adoptive expectations: Rising sons in Japanese family firms," Journal of Financial Economics, Elsevier, vol. 108(3), pages 840-854.
    5. González, Maximiliano & Guzmán, Alexander & Pombo, Carlos & Trujillo, María-Andrea, 2012. "Family firms and financial performance: The cost of growing," Emerging Markets Review, Elsevier, vol. 13(4), pages 626-649.
    6. Glauben, Thomas & Tietje, Hendrik & Weiss, Christoph R., 2004. "Sussession In Agriculture: A Probit And Competing Risk Analysis," 2004 Annual meeting, August 1-4, Denver, CO 20067, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    7. Oriana Bandiera & Renata Lemos & Andrea Prat & Raffaella Sadun, 2018. "Managing the Family Firm: Evidence from CEOs at Work," The Review of Financial Studies, Society for Financial Studies, vol. 31(5), pages 1605-1653.
    8. Cucculelli, Marco & Micucci, Giacinto, 2008. "Family succession and firm performance: Evidence from Italian family firms," Journal of Corporate Finance, Elsevier, vol. 14(1), pages 17-31, February.
    9. Grossmann, Volker & Strulik, Holger, 2010. "Should continued family firms face lower taxes than other estates?," Journal of Public Economics, Elsevier, vol. 94(1-2), pages 87-101, February.
    10. Ettore Crocia & John A. Doukas & Halit Gonenc, 2010. "Family Control and Financing Decisions," Koç University-TUSIAD Economic Research Forum Working Papers 1004, Koc University-TUSIAD Economic Research Forum.
    11. Andrew Ellul & Marco Pagano & Fausto Panunzi, 2010. "Inheritance Law and Investment in Family Firms," American Economic Review, American Economic Association, vol. 100(5), pages 2414-2450, December.
    12. Amore, Mario Daniele & Minichilli, Alessandro & Corbetta, Guido, 2011. "How do managerial successions shape corporate financial policies in family firms?," Journal of Corporate Finance, Elsevier, vol. 17(4), pages 1016-1027, September.
    13. Cucculelli, Marco & Marchionne, Francesco, 2012. "Market opportunities and owner identity: Are family firms different?," Journal of Corporate Finance, Elsevier, vol. 18(3), pages 476-495.
    14. William Mullins & Antoinette Schoar, 2013. "How do CEOs see their Role? Management Philosophy and Styles in Family and Non-Family Firms," NBER Working Papers 19395, National Bureau of Economic Research, Inc.
    15. François Belot & Timothée Waxin, 2017. "Labor Conflicts in French Workplaces: Does (the Type of) Family Control Matter?," Journal of Business Ethics, Springer, vol. 146(3), pages 591-617, December.
    16. Glauben, Thomas & Tietje, Hendrik & Weiss, Christoph R., 2005. "Analysing Family Farm Succession: A Probit and a Competing Risk Approach," 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark 24699, European Association of Agricultural Economists.
    17. Gallego, Francisco & Larrain, Borja, 2012. "CEO compensation and large shareholders: Evidence from emerging markets," Journal of Comparative Economics, Elsevier, vol. 40(4), pages 621-642.
    18. Block, Joern H. & Jaskiewicz, Peter & Miller, Danny, 2011. "Ownership versus management effects on performance in family and founder companies: A Bayesian reconciliation," Journal of Family Business Strategy, Elsevier, vol. 2(4), pages 232-245.
    19. Francesco Barbera & Ken Moores, 2013. "Firm ownership and productivity: a study of family and non-family SMEs," Small Business Economics, Springer, vol. 40(4), pages 953-976, May.
    20. Miller, Danny & Le Breton-Miller, Isabelle & Lester, Richard H. & Cannella Jr., Albert A., 2007. "Are family firms really superior performers?," Journal of Corporate Finance, Elsevier, vol. 13(5), pages 829-858, December.

    More about this item

    Keywords

    Agricultural and Food Policy;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:eiapai:166005. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: http://www.informatoreagrario.it/ita/riviste/Pagri/index.asp .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.