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Studies On The Economic Efficiency Of Kansas Farms
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Book Synopsis Studies on the Economic Efficiency of Kansas Farms by :
Download or read book Studies on the Economic Efficiency of Kansas Farms written by and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study focused on the economic efficiency of Kansas farms. The goal was to investigate factors and how they might affect farms and their economic and production performance. Kansas was selected as the region of study for its large agricultural production and distinctive type of multiple-operation farms. Farms in the sample could produce three outputs, crops, livestock and custom work. Inputs for the farms included measures of capital, labor, land and purchased inputs. Production outputs were measured in bushels and tons; input quantities were computed from input expenditures applying an input price index taken from the US Department of Agriculture in real US dollars. The dataset consisted of a 10-year (1998-2007) panel of 456 multi-output farms belonging to the Kansas Farm Management Association (KFMA). Data Envelopment Analysis (DEA) techniques were used to construct a non-parametric efficiency frontier and calculate technical efficiency (TE), allocative efficiency (AE), scale efficiency (SE), and overall or economic efficiency (OE) for each farm and each year. A discretionary input oriented DEA technique was used to assess the effect of capital availability as a farm input and its impact on farms' efficiencies. Efficiency scores in this problem were compared to the farms' scores when the level of debt was accounted for as a farm input. Panel data Tobit analysis was applied to the farms' inefficiency scores to investigate the causality of selected farm characteristics on technical, allocative, scale and overall inefficiencies. For the sampled farms and period, results confirmed that larger farms were more efficient than smaller ones. Farms specializing in livestock products, such as dairy and beef, were reported to be slightly more overall efficient than crop or mixed farms. Some economies of scope were found between custom work operations and crops. Financial structure of the farms was measured using the ratio of total debt to total assets for each farm. According to the results, larger leverage ratios increased all farm efficiencies. The positive effect of debt or capital availability in Kansas farms efficiencies was confirmed. The results of the technical efficiency discretionary DEA model agreed with this finding.
Book Synopsis The Relation of Farm Size and Efficiency to Economic Outcomes on Central Kansas Farms by : Dale Alpheus Knight
Download or read book The Relation of Farm Size and Efficiency to Economic Outcomes on Central Kansas Farms written by Dale Alpheus Knight and published by . This book was released on 1968 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Relation of Farm Size and Efficiency to Economic Outcomes on Central Kansas Farms by : Dale A. Knight
Download or read book The Relation of Farm Size and Efficiency to Economic Outcomes on Central Kansas Farms written by Dale A. Knight and published by . This book was released on 1968 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economic Development in Southwestern Kansas by : University of Kansas. Center for Research in Business
Download or read book Economic Development in Southwestern Kansas written by University of Kansas. Center for Research in Business and published by . This book was released on 1951 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economic Development in Southwestern Kansas by : University of Kansas. Bureau of Business Research
Download or read book Economic Development in Southwestern Kansas written by University of Kansas. Bureau of Business Research and published by . This book was released on 1953 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis An Examination of Labor Productivity and Labor Efficiency on Kansas Farms by :
Download or read book An Examination of Labor Productivity and Labor Efficiency on Kansas Farms written by and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this thesis is to examine differences in labor efficiency and to find what is driving those differences among Kansas farms. The results provide a quantified understanding of the variation in labor productivity and labor efficiency relating to three categories of variables: farm characteristics, financial performance, and specialization. This research uses regression estimates from a data set of 1,145 Kansas farms to quantify how farm characteristics are related to labor productivity and labor efficiency. There are two main models. Labor productivity, expressed as value of farm production divided by the number of workers, is regressed on three categories of variables: farm characteristics, financial performance, and specialization. Labor efficiency, expressed as labor costs divided by value of farm production, is also regressed on the same categories of variables. The research found that farm size, managerial ability, and age were the most influential and significant variables in the labor productivity model. Farm size, managerial ability, and land tenure were the most influential and significant variables in the labor efficiency model. Farm size is a variable important to both models, and when evaluated at $100,000 of VFP, labor productivity has a value of 152,122 and a labor efficiency value of 0.271 (all else constant). When evaluated at a VFP of $500,000, labor productivity and labor efficiency improve to values of 217,914 and 0.246, respectively.
Book Synopsis Farm Size and Resource Efficiency on Eastern Kansas Farms by : Dale Alpheus Knight
Download or read book Farm Size and Resource Efficiency on Eastern Kansas Farms written by Dale Alpheus Knight and published by . This book was released on 1967 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Linking Efficiency, Profitability, and Growth of Kansas Farms by : Cody O'Brien
Download or read book Linking Efficiency, Profitability, and Growth of Kansas Farms written by Cody O'Brien and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The main objective of this analysis was to examine the profitability and efficiency of Kansas farms in order to draw inferences among the profitability, efficiency, and growth of agricultural producers in Kansas. The time period analyzed was 2005 to 2015. Farms in the sample include a mix of 564 crop and/or livestock operations with 11 years of continuous data through the Kansas Farm Management Association data-bank. Efficiency scores were calculated to determine how close each farm was to the production possibilities frontier, or their cost efficiency. Profitability measures, (operating profit margin and return on assets), were obtained for each farm. The profitability dynamics in 2014 and 2015 for these farms changed compared to previous years. Crop farms generated less profits in 2014 and 2015 compared to previous years, and relative profits from average fluctuated more for sampled farms in 2014 and 2015. Farms were also categorized into risk classes. These classifications aim at distinguishing farms that are profitable or not, and their level of solvency, utilizing their net farm income from operations and their debt to asset ratio. Farms are migrating from the low risk classification, showing that Kansas farms are becoming less profitable, but are not transitioning to a higher risk solvency state. These farms will need to focus on utilizing their inputs more efficiently to keep their solvency levels in check. After analyzing persistence in profitability, the results suggest that farms with higher return on assets tend to be more solvent, but farms with higher operating profit margin tend to be less solvent. The analysis also suggests that there might have been persistence in profits in the years prior to 2015. The analysis of relative positioning of farms in terms of return on assets suggests that during 2007-2011 some farms were able to consistently differentiate themselves by generating either below or above normal profits. Some farms were able to become more profitable in 2012 and 2013, while others lagged behind supported by regression results that signaled divergence of profitability levels. The relative positioning analysis for operating profit margin indicates that farms had similar operating profit margins from 2010 through 2014, and divergence occurred in 2015 by farms that were able to differentiate themselves more through the average operating profit margin. Next the efficiencies of the farms were examined. Analysis of the efficiency scores suggests that the cost efficiencies of Kansas farms are not explained by risk classification significantly, but the crop-labor percentage ratio significantly explains the cost efficiency of the farms. The relationship between cost efficiency and profitability measures proved to be the strongest out of the three performance measures due to their correlation. The final step in the analysis was to examine farm characteristics of the top performing farms. Farms were ranked by profitability measurements and the efficiency measure. Variables of interest that were significantly different between the top 25 percent and the bottom 25 percent of farms include total farm assets, value of farm production, crop-labor percentage, crop acres, number of workers, and age of operators.
Book Synopsis Economies of Scale for Data Envelopment Analysis with a Kansas Farm Application by : Bryon James Parman
Download or read book Economies of Scale for Data Envelopment Analysis with a Kansas Farm Application written by Bryon James Parman and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Estimation of cost functions can provide useful economic information to producers, economists, and policy makers. From the estimation of a cost function, it is possible to calculate cost efficiency, economies of scope, and economies of scale. Economic theory specifies the cost function as a frontier since firms cannot operate at lower cost than the cost minimizing input/output bundle. However, traditional parametric estimation techniques often violate economic theory using two sided-error systems. The stochastic frontier method has allowed the estimation of a frontier but continues to restrict the technology through functional assumption. Nonparametric frontier estimation is an alternative approach to estimate a cost frontier by enveloping the data which by its construct, conforms to economic theory. This research expands the economic information available by deriving multi-product scale economies and product-specific scale economies from the nonparametric approach. It also tests its ability to accurately recover these important economic measures under different assumptions of the cost function, and cost inefficiency distributions. Next, this new method is compared to other methods used to estimate cost functions and associated economic measures including a two-sided error system, stochastic frontier method, and an OLS model restricting the errors to take on only positive values. Finally, the nonparametric approach with the new measures is applied to a sample of Kansas farms. The nonparametric approach is able to closely estimate economies of scale and scope from estimation of a cost frontier. Comparison reveals that the nonparametric approach is closer to the "true" economic measures than some parametric methods and that it is better able to extrapolate out of sample when there are no zero output firms. Finally, the nonparametric approach shows that potential cost savings from economies of scale and economies of scope exist for small Kansas farms. However, cost savings from economies of scale become exhausted when farms exceed gross annual revenues of $500k, while economies of scope also diminish as farms grow larger. Results also show from annual frontier estimations that estimates of economies of scale, scope, and cost efficiency have remained relatively stable from 2002 to 2011.
Book Synopsis Fort Hays Kansas State College Studies ... by : Fort Hays Kansas State College
Download or read book Fort Hays Kansas State College Studies ... written by Fort Hays Kansas State College and published by . This book was released on 1943 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economic Indicators of the Farm Sector by :
Download or read book Economic Indicators of the Farm Sector written by and published by . This book was released on 1981 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economic Development for Kansas by : Kansas. Gevernment's Economic Development Committee
Download or read book Economic Development for Kansas written by Kansas. Gevernment's Economic Development Committee and published by . This book was released on 1962 with total page 644 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Agricultural Economic Report written by and published by . This book was released on 1961 with total page 574 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economics of Flat Grain Storage Facilities in Kansas (Classic Reprint) by : William Robert Summit
Download or read book Economics of Flat Grain Storage Facilities in Kansas (Classic Reprint) written by William Robert Summit and published by Forgotten Books. This book was released on 2018-05 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Economics of Flat Grain Storage Facilities in Kansas The Farmer Cooperative Service conducts research studies and service activities of assistance to farmers in connection with cooperatives engaged in marketing farm products, purchasing farm supplies, and supplying business services. The work of the Service relates to problems of manage ment, organization, policies, financing, merchandising, quality, costs, efficiency and membership. The Service publishes the results Of such studies; confers and advises with Officials of farmers'_ cooperatives; and works with educational agencies, cooperatives, and others in the dissemination of information relating to cooperative principles and practices. This is a joint study by Kansas State University and Farmer Cooperative Service. Thus, in addition to being listed as usda Marketing Research Report 685 the Dept. Of Agricultural Economics, Kansas Agricultural Experiment Station, Manhattan, lists it as their contribution no. 389. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Book Synopsis Dissertation Abstracts International by :
Download or read book Dissertation Abstracts International written by and published by . This book was released on 2009-06 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis An Examination of the Resilience of Kansas Farms by : Michael Burnett Lindbloom
Download or read book An Examination of the Resilience of Kansas Farms written by Michael Burnett Lindbloom and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The drop in average U.S. net farm income from 2014 through 2016 has indicated that current risk management options available to farmers have not fully mitigated the risks associated with farming. Although there are more risk management tools available to farmers today than there have been in the past, there is still a need to improve upon the available options and create new ways of securing agricultural production into the future. In an effort to improve how farmers cope with risk and uncertainty, system resilience concepts have started to find applications in production agricultural research. Agricultural resilience can generally be defined as the ability of an agricultural production system to return to normal (or improved) operations after having experienced an unexpected economic or environmental shock. The contribution of this research was to conduct an empirical analysis of farm resilience based on existing theories in system and agricultural resilience. A conceptual model was developed to apply an existing resilience measure, the resilience triangle, to a production agriculture setting and a model of farm resilience was constructed based on the existing literature in agricultural resilience. In this model, farm resilience is driven by three defining capabilities: buffering capability, adaptive capability, and transformative capability. The data for this analysis was obtained from the Kansas Farm Management Association (KFMA). Based on the literature review and the conceptual framework, resilience triangle areas were computed for individual farms during two distinct periods of economic shock, 1980 and 1998. An index of farm resilience was generated from the resilience triangle areas, which were then used as dependent variables in the econometric analysis. A fractional response logit model was estimated to test hypotheses about the impact of the different resilience capabilities on overall resilience index values. The results of the analysis indicated that there are differences in the ways that buffering and adaptive capabilities impact overall farm resilience, however there were not conclusive findings that buffering capabilities were stronger among the resilient farms as compared to the non-resilient farms. These results indicate that farm resilience is driven by both buffering and adaptive capabilities jointly. Even though buffering capabilities are important at the outset of a shock, the farm will then need adaptive capabilities to recover from the initial impact of the shock.
Book Synopsis Trends in Land Values in Kansas by : Wilfred H. Pine
Download or read book Trends in Land Values in Kansas written by Wilfred H. Pine and published by . This book was released on 1974 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
