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dc.rights.licenseopenen_US
dc.contributor.authorJEANNEAUX, Philippe
hal.structure.identifierBordeaux Sciences Economiques [BSE]
dc.contributor.authorDESJEUX, Yann
dc.contributor.authorENJOLRAS, Geoffroy
hal.structure.identifierBordeaux Sciences Economiques [BSE]
dc.contributor.authorLATRUFFE, Laure
dc.date.accessioned2022-09-06T08:48:43Z
dc.date.available2022-09-06T08:48:43Z
dc.date.issued2022-06
dc.identifier.issn0742-4477en_US
dc.identifier.otherhttps://www.casd.eu/en/en_US
dc.identifier.urioai:crossref.org:10.1002/agr.21752
dc.identifier.urihttps://oskar-bordeaux.fr/handle/20.500.12278/140652
dc.description.abstractEnFarm transfer is increasingly seen as fundamental to the development of agriculture. One of the major challenges is to assess farm value in the context of an opaque market for farms. We contribute to the scarce literature on farm valuation by empirically applying three valuation methods to the Farm Accountancy Data Network database for France in 2017 and 2018 and for five types of farming. The three methods—the fundamental method, the patrimonial method, and the financial method—are well known for the valuation of companies, but have yet to be implemented widely for farms in the empirical literature. The results show that wine-growing farms have the highest values on average. Pig and beef farms have high average patrimonial values, reflecting their high capital intensity, but beef farms have the lowest average values calculated with methods based on cash flows, revealing unfavorable market conditions for these farms. The results further reveal that total farm output drives the value upward, but that high farm labor, indebtedness, and age contribute to reducing value. Our findings also highlight that, in practice, the differences in values across methods may be substantial.
dc.description.sponsorshipEtude de la toxicité des médicaments pris pendant la grossesse : évaluation de modèles statistiques et d'indicateurs de santé périnatale - ANR-15-CE36-0006en_US
dc.language.isoENen_US
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 United States*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/us/*
dc.sourcecrossref
dc.subject.enagricultural production
dc.subject.enFADN
dc.subject.enFrance
dc.subject.enfarm value
dc.subject.envaluation methods
dc.title.enFarm valuation: A comparison of methods for French farms
dc.typeArticle de revueen_US
dc.identifier.doi10.1002/agr.21752en_US
dc.subject.halÉconomie et finance quantitative [q-fin]en_US
dc.subject.jelD - Microeconomics::D2 - Production and Organizations::D22 - Firm Behavior: Empirical Analysisen_US
dc.subject.jelG - Financial Economics::G3 - Corporate Finance and Governance::G32 - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwillen_US
dc.subject.jelQ - Agricultural and Natural Resource Economics; Environmental and Ecological Economics::Q1 - Agriculture::Q12 - Micro Analysis of Farm Firms, Farm Households, and Farm Input Marketsen_US
bordeaux.journalAgribusinessen_US
bordeaux.hal.laboratoriesBordeaux Sciences Economiques / Bordeaux School of Economics -BSE) - UMR 6060en_US
bordeaux.institutionUniversité de Bordeauxen_US
bordeaux.institutionCNRSen_US
bordeaux.peerReviewedouien_US
bordeaux.inpressnonen_US
bordeaux.import.sourcedissemin
hal.identifierhal-03770125
hal.version1
hal.date.transferred2022-09-06T08:48:45Z
hal.exporttrue
workflow.import.sourcedissemin
dc.rights.ccCC BY-NC-NDen_US
bordeaux.COinSctx_ver=Z39.88-2004&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.jtitle=Agribusiness&rft.date=2022-06&rft.eissn=0742-4477&rft.issn=0742-4477&rft.au=JEANNEAUX,%20Philippe&DESJEUX,%20Yann&ENJOLRAS,%20Geoffroy&LATRUFFE,%20Laure&rft.genre=article


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