异质农田位置和质量的风险与回报

IF 1.5 4区经济学 Q3 AGRICULTURAL ECONOMICS & POLICY

International Food and Agribusiness Management Review Pub Date : 2022-04-07 DOI:10.22434/ifamr2021.0051

Ashraf Noumir, M. Langemeier

{"title":"异质农田位置和质量的风险与回报","authors":"Ashraf Noumir, M. Langemeier","doi":"10.22434/ifamr2021.0051","DOIUrl":null,"url":null,"abstract":"Using data on farmland values in Indiana and Iowa, this study examines the risk and return characteristics surrounding top, medium, and poor farmland qualities in different locations in these two states. We find that systematic risks of locations/qualities are very low (indistinguishable from 0). In terms of risk-adjusted return, our results show that Indiana farmland has more excess return and higher reward-to-risk ratios than Iowa. Also, adding the quality dimension to the geographic dimension in portfolio selection strategies improved the portfolio reward-to-risk ratio for Indiana but not for Iowa. Interestingly, we found that the average quality farmland has more weight in portfolios relative to top- and poor-quality farmland.","PeriodicalId":49187,"journal":{"name":"International Food and Agribusiness Management Review","volume":null,"pages":null},"PeriodicalIF":1.5000,"publicationDate":"2022-04-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":"{\"title\":\"Risk and return of heterogenous farmland locations and qualities\",\"authors\":\"Ashraf Noumir, M. Langemeier\",\"doi\":\"10.22434/ifamr2021.0051\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Using data on farmland values in Indiana and Iowa, this study examines the risk and return characteristics surrounding top, medium, and poor farmland qualities in different locations in these two states. We find that systematic risks of locations/qualities are very low (indistinguishable from 0). In terms of risk-adjusted return, our results show that Indiana farmland has more excess return and higher reward-to-risk ratios than Iowa. Also, adding the quality dimension to the geographic dimension in portfolio selection strategies improved the portfolio reward-to-risk ratio for Indiana but not for Iowa. Interestingly, we found that the average quality farmland has more weight in portfolios relative to top- and poor-quality farmland.\",\"PeriodicalId\":49187,\"journal\":{\"name\":\"International Food and Agribusiness Management Review\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":1.5000,\"publicationDate\":\"2022-04-07\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"1\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International Food and Agribusiness Management Review\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://doi.org/10.22434/ifamr2021.0051\",\"RegionNum\":4,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q3\",\"JCRName\":\"AGRICULTURAL ECONOMICS & POLICY\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Food and Agribusiness Management Review","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.22434/ifamr2021.0051","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"AGRICULTURAL ECONOMICS & POLICY","Score":null,"Total":0}

引用次数: 1

摘要

利用印第安纳州和爱荷华州的农田价值数据，本研究考察了这两个州不同地点围绕顶级、中等和较差农田质量的风险和回报特征。我们发现，地点/品质的系统风险非常低(与0几乎没有区别)。在风险调整后的回报方面，我们的结果表明，印第安纳州的农田比爱荷华州有更多的超额回报和更高的风险回报比。此外，在投资组合选择策略中，将质量维度加入地理维度提高了印第安纳州的投资组合风险回报比，但对爱荷华州没有改善。有趣的是，我们发现，相对于优质和劣质农田，平均质量农田在投资组合中的权重更大。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文本刊更多论文

Risk and return of heterogenous farmland locations and qualities

Using data on farmland values in Indiana and Iowa, this study examines the risk and return characteristics surrounding top, medium, and poor farmland qualities in different locations in these two states. We find that systematic risks of locations/qualities are very low (indistinguishable from 0). In terms of risk-adjusted return, our results show that Indiana farmland has more excess return and higher reward-to-risk ratios than Iowa. Also, adding the quality dimension to the geographic dimension in portfolio selection strategies improved the portfolio reward-to-risk ratio for Indiana but not for Iowa. Interestingly, we found that the average quality farmland has more weight in portfolios relative to top- and poor-quality farmland.

求助全文

通过发布文献求助，成功后即可免费获取论文全文。去求助

来源期刊

International Food and Agribusiness Management Review AGRICULTURAL ECONOMICS & POLICY-

CiteScore

2.90

自引率

0.00%

发文量

审稿时长

>12 weeks

期刊介绍： The IFAMR is an internationally recognized catalyst for discussion and inquiry on issues related to the global food and agribusiness system. The journal provides an intellectual meeting place for industry executives, managers, scholars and practitioners interested in the effective management of agribusiness firms and organizations. IFAMR publishes high quality, peer reviewed, scholarly articles on topics related to the practice of management in the food and agribusiness industry. The Journal provides managers, researchers and teachers a forum where they can publish and acquire research results, new ideas, applications of new knowledge, and discussions of issues important to the worldwide food and agribusiness system. The Review is published electronically on this website. The core values of the Review are as follows: excellent academic contributions; fast, thorough, and detailed peer reviews; building human capital through the development of good writing skills in scholars and students; broad international representation among authors, editors, and reviewers; a showcase for IFAMA’s unique industry-scholar relationship, and a facilitator of international debate, networking, and research in agribusiness. The Review welcomes scholarly articles on business, public policy, law and education pertaining to the global food system. Articles may be applied or theoretical, but must relevant to managers or management scholars studies, industry interviews, and book reviews are also welcome.