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Joint measurement of farm size and farm performance: a confirmatory factor analysis

Author

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  • Joleen C. Hadrich
  • Frayne Olson

Abstract

Purpose - The purpose of this paper is to determine if a single dominant measure defines farm size and farm performance consistently over a ten‐year time period, or if alternative measures are needed. The paper also seeks to determine the correlation between farm size and farm performance and how this correlation may change over time. Design/methodology/approach - A confirmatory factor analysis was used to test the relative strength of farm size and performance indicator variables and estimate the relationship between farm size and performance latent variables. Data were collected from the North Dakota Farm and Ranch Business Management Association (NDFRBA) Annual Summaries for 2000‐2009. Findings - Results demonstrated that a single indicator, such as acres or rate of return on assets, may not capture the array of farm size and farm performance concepts and multiple indicators should be used to jointly determine farm size and farm performance measures. Results also found a sequential decrease in correlation between farm size and performance for seven of the ten years. Originality/value - This paper addresses the issue regarding multiple measures for farm size and farm performance which helps provide the framework to begin developing a systematic classification of farms for use in strategic farm planning and guide future government policies, federal farm programs, and environmental regulations.

Suggested Citation

  • Joleen C. Hadrich & Frayne Olson, 2011. "Joint measurement of farm size and farm performance: a confirmatory factor analysis," Agricultural Finance Review, Emerald Group Publishing Limited, vol. 71(3), pages 295-309, November.
    • Handle: RePEc:eme:afrpps:v:71:y:2011:i:3:p:295-309
    DOI: 10.1108/00021461111177585
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    Citations

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    Cited by:

    1. Aleksander Grzelak & Jakub Staniszewski & Michał Borychowski, 2020. "Income or Assets—What Determines the Approach to the Environment among Farmers in A Region in Poland?," Sustainability, MDPI, vol. 12(12), pages 1-20, June.
    2. Noumir, Ashraf & Langemeier, Michael R., 2021. "Farm Size and the Cross-Section of Farm Returns," 2021 Annual Meeting, August 1-3, Austin, Texas 313880, Agricultural and Applied Economics Association.
    3. Philippe Jeanneaux & Yann Desjeux & Geoffroy Enjolras & Laure Latruffe, 2022. "Farm valuation: A comparison of methods for French farms," Agribusiness, John Wiley & Sons, Ltd., vol. 38(4), pages 786-809, October.
    4. Bieniek-Majka, Maryla & Guth, Marta, 2021. "Factor Productivity And Profitability Of Horticultural Holdings In Selected Countries Specializing In Fruit And Vegetable Production In The European Union In The Period 2008-2018," Roczniki (Annals), Polish Association of Agricultural Economists and Agribusiness - Stowarzyszenie Ekonomistow Rolnictwa e Agrobiznesu (SERiA), vol. 2021(2).
    5. Bazyli Czyżewski & Marta Guth, 2021. "Impact of Policy and Factor Intensity on Sustainable Value of European Agriculture: Exploring Trade-Offs of Environmental, Economic and Social Efficiency at the Regional Level," Agriculture, MDPI, vol. 11(1), pages 1-19, January.
    6. Schulz, Lee L. & Hadrich, Joleen C., 2014. "Feeding Practices and Input Cost Performance in U.S. Hog Operations: The Case of Split-Sex and Phase Feeding," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 169983, Agricultural and Applied Economics Association.
    7. Łukasz Kryszak & Marta Guth & Bazyli Czyżewski, 2021. "Determinants of farm profitability in the EU regions. Does farm size matter?," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 67(3), pages 90-100.

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