The Contribution of Financial Management Training and Knowledge to Dairy Farm Financial Performance
Document Type
Article
Journal/Book Title
Review of Agricultural Economics
Publication Date
2004
Publisher
Oxford University Press
Volume
26
Issue
1
First Page
132
Last Page
147
Abstract
Cooperative Extension and other institutions (e.g., technical colleges, on-line self study programs, university short courses, etc.) frequently stress the importance of financial management education for successful farming operations. The research reported in this paper attempts to quantify the contributions of such training to the financial performance of dairy farms in Wisconsin. Our results suggest a link between a deeper understanding of financial concepts and greater financial returns but that it is a relatively weak one. Moreover, simple exposure to farm management training programs and self-confidence in farm financial decision-making ability are not significantly related to farm financial outcomes.
Recommended Citation
Jackson-Smith, D. B., D. Trechter, and N. S. Splett. 2004. “The Contribution of Financial Management Training and Knowledge to Dairy Farm Financial Performance.” Review of Agricultural Economics 26(1): 132-147.