文章基本信息

标题：The determinants of external private equity financing in agricultural production businesses
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作者：Mondelli, Mario P.
期刊名称：Journal of Agribusiness
印刷版ISSN：0738-8950
出版年度：2012
出版社：Journal of Agribusiness
摘要：This study investigates the determinants that influence a firm’s decision to use external private equity in agriculture. The use of external equity as a funding source in agriculture has increased since 1990; however, the literature addressing this phenomenon is limited. The asset specificity approach (Williamson 1988) offers insightful contributions to understand the choice of financial mechanisms. Specifically, financial structure is related to asset specificity, the extent to which assets are redeployable to alternative uses, a particularly important attribute in agricultural production. I construct an international dataset of companies that receive external private equity finance to test the determinants of using external equity finance. Results show that the attributes of the assets involved in agriculture are important determinants of financing choices.
关键词：asset specificity;external equity;agricultural finance