Work

Factors Affecting Succession Decisions in Family Farm Businesses: Evidence from a National Survey

Year: 2007

Type: article

Abstract: Succession planning is a component of a household’s risk management strategy for its farm business in as much as it is aimed at continuity of the business' management team. The family farm sector relies heavily on intergenerational succession. Succession and retirement are inter-linked and are reflective of the life cycles of the farm household and the farm business. This study uses Agricultural Resource Management Survey (ARMS) of the USDA to examine farm, operator, and family characteristics that affect farm succession within the family. Results indicate that large farms are more likely to be transferred within families. Level of farm debt, education, and being engaged in farm enterprises like other crops and dairy, affect within-family transfers of the farm business.

Source: RePEc: Research Papers in Economics

DOI: 10.22004/ag.econ.190674

Authors: Mishra, Ashok, El-Osta, Hisham

Language: English

Topic: Family Business Performance and Succession

Subfield: Organizational Behavior and Human Resource Management

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Zero hunger

Open Access status: green

Funders: North Carolina State University, Agricultural and Applied Economics Association

OpenAlex ID: W2104697319