Agricultural Finance Review: Volume 68 Issue 2

Customer segmentation perceptions of farm credit associations

Brian C. Briggeman, Philip Kenkel

In 2006, the Farm Credit System released a report about the general economic and financial needs to rural America entitled HORIZONS. The objective of this study is to build on the…

Credit risk rating migration and unobserved borrower heterogeneity

Jeffrey R. Stokes, Jonathan B. Dressler, Lakshmi Balasubramanyan

Some past studies of credit risk ratings migration have found trend reversals and evidence that the data‐generating process is nonstationary. Using a sample of Farm Credit System…

Who is credit constrained? evidence from rural Malawi

Franklin Simtowe, Aliou Diagne, Manfred Zeller

Using data from Malawi, this paper examines factors that influence a household’s likelihood of facing credit constraints. Households with larger land holdings have a higher…

Dynamic incentive with nonfinancing threat and social sanction in rural credit markets

Kien Tran Nguyen, Makoto Kakinaka

This paper analyzes an individual lending credit market in a rural society, where potential borrowers have a dynamic incentive of strategic default, and a benevolent lender gives…

Economic value of tradable farmland use rights and mortgage loans in China

H. Holly Wang

This paper first discusses the possibility of market‐transferable land use rights and mortgage loans in China, and then shows farmers’ welfare gain in the presence of such…

Earnings, accruals, cash flows, and EBITDA for agribusiness firms

Carlos Omar Trejo‐Pech, Richard N. Weldon, Lisa A. House

This study examines empirical relationships of earnings, accruals, and cash flows for the U.S. food supply chain sector (i.e., agribusiness) and compares them with results for the…

Financing strategies under combined capital structure theories: a farm‐level simulation analysis

Jianmei Zhao, Peter J. Barry, Gary D. Schnitkey

A stochastic, multi‐period simulation model is developed based on the prevalent capital structure theories, in searching for and identifying an optimal combination of related…

An Excel‐based decision aid for evaluating financing alternatives and the marginal cost of capital

Jeffrey R. Stokes, Jayson K. Harper

For agricultural businesses, managing debt capital means choosing from among myriad sources and terms for financing for inputs, machinery, equipment, and land. Providers of debt…