자료유형  

 학위논문

Control Number  

0016932584

International Standard Book Number  

9798379820770

Dewey Decimal Classification Number  

636

Main Entry-Personal Name  

Noumir, Ashraf.

Publication, Distribution, etc. (Imprint  

[S.l.] : Purdue University., 2020

Publication, Distribution, etc. (Imprint  

Ann Arbor : ProQuest Dissertations & Theses, 2020

Physical Description  

1 online resource(99 p.)

General Note  

Source: Dissertations Abstracts International, Volume: 85-01, Section: B.

General Note  

Advisor: Langemeier, Michael.

Dissertation Note  

Thesis (Ph.D.)--Purdue University, 2020.

Restrictions on Access Note  

This item must not be sold to any third party vendors.

Summary, Etc.  

요약This dissertation is comprised of three essays focusing on farmland economics with particular attention to characterizing risk and return of farmland investment. The first essay in chapter two discusses the portfolio performance of different farmland qualities in different geographic regions in two Corn Belt states, namely Indiana and Iowa. I found that risk of different farmland qualities in different geographic regions are low compared to other assets. Excess return, however, is higher and statistically significant in Indiana relative to Iowa. Results also suggest that diversifying across farmland locations and qualities contributes positively to farmland investment in Indiana but not in Iowa.The second essay in chapter three examines whether farmland has a risk factor in asset pricing models. In other words, I examine whether the additional return of farmland investment is associated with additional risk. Relying on the National Council of Real Estate Investment Fiduciaries (NCREIF) farmland property index and U.S. stock returns, I show that exposure to farmland risk has neither economical nor statistical explanatory power for the expected stock returns across a range of equity portfolios.In the third essay in chapter four, I develop a decision rule to determine the optimal mix of owned and rented farmland operated by a farmer or agricultural investor. I do so by extending portfolio theory to get the optimal mix of owned and rented farmland that minimize farming risk. Utilizing data on West Central Indiana, this portfolio rule shows that owning is far more attractive than renting farmland. Chapter five concludes the three essays.

Subject Added Entry-Topical Term  

Farm management.

Subject Added Entry-Topical Term  

Soil erosion.

Subject Added Entry-Topical Term  

Corn.

Subject Added Entry-Topical Term  

Dow Jones averages.

Subject Added Entry-Topical Term  

Prices.

Subject Added Entry-Topical Term  

Time series.

Subject Added Entry-Topical Term  

Agriculture.

Subject Added Entry-Topical Term  

Farmers.

Subject Added Entry-Topical Term  

Land tenure.

Subject Added Entry-Topical Term  

Farms.

Subject Added Entry-Topical Term  

Finance.

Subject Added Entry-Topical Term  

Soil sciences.

Added Entry-Corporate Name  

Purdue University.

Host Item Entry  

Dissertations Abstracts International. 85-01B.

Host Item Entry  

Dissertation Abstract International

Electronic Location and Access  

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Control Number  

joongbu:642916