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Succession Decisions in U.S. Family Farm Businesses

Author

Listed:
  • Mishra, Ashok K.
  • El-Osta, Hisham S.
  • Shaik, Saleem

Abstract

Farm transfer or succession by the “next generation†holds a place of central importance in the determination of industry structure and total number of farmers and has profound implications for farm families. The family farm sector relies heavily on intergenerational succession. Succession and retirement are linked and reflective of the life cycles of the farm household and the farm business. A large farm-level data set and a logistic regression model were used to examine the determinants of farm succession decisions in the United States, with special emphasis given to the treatment of endogenous wealth and farm size variables. Results point to the importance of farmer’s age, educational attainment of farm operators, off-farm work by the operator or operator and spouse, expected household wealth, and farm business location on the decision to have succession plans.

Suggested Citation

  • Mishra, Ashok K. & El-Osta, Hisham S. & Shaik, Saleem, 2010. "Succession Decisions in U.S. Family Farm Businesses," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 35(1), April.
  • Handle: RePEc:ags:jlaare:61055
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    File URL: http://purl.umn.edu/61055
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    Citations

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    Cited by:

    1. Elliott, Matthew & James, Harvey Jr., 2013. "Nature Of The Farm: Revisited," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150726, Agricultural and Applied Economics Association.
    2. Ani L. Katchova & Mary Clare Ahearn, 2016. "Dynamics of Farmland Ownership and Leasing: Implications for Young and Beginning Farmers," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 38(2), pages 334-350.
    3. Harris, James Michael & Mishra, Ashok K. & Williams, Robert P., 2012. "The Impact Of Farm Succession Decisions On The Financial Performance Of The Farm," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124749, Agricultural and Applied Economics Association.
    4. Adhikari, Arun & Mishra, Ashok K. & Chintawar, Sachin, 2009. "Adoption of Technology and Its Impact on Profitability of Young and Beginning Farmers: A Quantile Regression Approach," 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia 46830, Southern Agricultural Economics Association.
    5. Lange, Kelly Y. & Johnson, Jeffrey W. & Johnson, Phillip N. & Hudson, Darren & Wang, Chenggang & Gustafson, Bill, 2013. "Intergenerational Management Transfers in Family Farm Businesses," 2013 Annual Meeting, February 2-5, 2013, Orlando, Florida 142731, Southern Agricultural Economics Association.
    6. Hung-Hao Chang, 2013. "Old Farmer Pension Program and Farm Succession: Evidence from a Population-Based Survey of Farm Households in Taiwan," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 95(4), pages 976-991.
    7. Foltz, Renee D. & Marshall, Maria I., 2012. "Family Business Decision-Making: Factors and Influences on Choosing a Successor," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124272, Agricultural and Applied Economics Association.
    8. Katchova, Ani & Ahearn, Mary, 2015. "Farmland Assets and Growth Trends for Young and Beginning Farmers in the U.S," 2015 Conference, August 9-14, 2015, Milan, Italy 211839, International Association of Agricultural Economists.
    9. repec:gam:jsusta:v:9:y:2017:i:9:p:1648-:d:112190 is not listed on IDEAS
    10. Protopop, Iuliia & Boehlje, Michael & Stockton, Matthew & Bradley, Lubben, 2016. "The Effect of the Timing of Farm Transfer Initiation on Terminal Wealth in the Business: Simulation Model," 2016 Annual Meeting, July 31-August 2, 2016, Boston, Massachusetts 236006, Agricultural and Applied Economics Association.
    11. repec:eee:forpol:v:83:y:2017:i:c:p:36-44 is not listed on IDEAS
    12. Dudek, Michał, 2016. "A matter of family? An analysis of determinants of farm succession in Polish agriculture," Studies in Agricultural Economics, Research Institute for Agricultural Economics, vol. 118(2), August.

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