Financing Constraints and the Family Farm: How do Families React?
This paper explores the idea that off-farm income is used for investment in farm assets. Using Alabama farm data for the 1997-2004 period, we find that farm investment is more sensitive to off-farm than to on-farm income, and that this sensitivity is stronger for farms with sales less than $250,000.
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95-29, Columbia - Graduate School of Business.
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