IDEAS home Printed from https://ideas.repec.org/a/ags/remaae/9633.html
   My bibliography  Save this article

Growth of the Agricultural Firm: Problems and Theories

Author

Listed:
  • Renborg, Ulf

Abstract

This review of growth theories of the firm is directed towards those theories of interest for managerial direction of the growth process of agricultural firms. It starts with a discussion of growth, growth directions, the growth process and associated problems. From this an analytical procedure is built up. which states a set of desirable features that theories suitable to guide managers of agricultural firms should contain. In the light of these, the following theories of firm growth are discussed: the traditional neo-classical approach to firm size, extensions of this approach, the growth theories of Edith Penrose and Robin Marris, and the combination of investment and finance theory possible with various types of mathematical programming and cybernetic and behavioural theory models.

Suggested Citation

  • Renborg, Ulf, 1970. "Growth of the Agricultural Firm: Problems and Theories," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 38(02), pages 1-51, June.
    • Handle: RePEc:ags:remaae:9633
    DOI: 10.22004/ag.econ.9633
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/9633/files/38020051.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.9633?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. James H. Lorie & Leonard J. Savage, 1955. "Three Problems in Rationing Capital," The Journal of Business, University of Chicago Press, vol. 28, pages 229-229.
    2. Laurel D. Loftsgard & Earl O. Heady, 1959. "Application of Dynamic Programming Models for Optimum Farm and Home Plans," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 41(1), pages 51-62.
    3. Michael D. Boehlje & T. Kelley White, 1969. "A Production-Investment Decision Model of Farm Firm Growth," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 51(3), pages 546-563.
    4. Stephen Hymer & Peter Pashigian, 1962. "Firm Size and Rate of Growth," Journal of Political Economy, University of Chicago Press, vol. 70(6), pages 556-556.
    5. Gerald W. Dean & Michele De Benedictis, 1964. "A Model of Economic Development for Peasant Farms in Southern Italy," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 46(2), pages 295-312.
    6. Armen A. Alchian, 1950. "Uncertainty, Evolution, and Economic Theory," Journal of Political Economy, University of Chicago Press, vol. 58(3), pages 211-211.
    7. Cowling, Keith G. & Baker, Chester B., 1963. "A Polyperiod Model for Estimating the Supply of Milk," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 15(1), pages 1-9, January.
    8. N. H. Leyland, 1964. "Growth And Competition," Oxford Economic Papers, Oxford University Press, vol. 16(1), pages 3-8.
    9. A. N. Halter, 1966. "Models of Firm Growth," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 48(5), pages 1503-1509.
    10. Theodor Heidhues, 1966. "A Recursive Programming Model of Farm Growth in Northern Germany," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 48(3_Part_I), pages 668-684.
    11. Robert F. Hutton, 1966. "Discussion: Models of Firm Growth," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 48(5), pages 1510-1512.
    12. Throsby, C.D., 1962. "Some Notes on "Dynamic" Linear Programming," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 30(02), pages 1-23, June.
    13. J. Hirshleifer, 1958. "On the Theory of Optimal Investment Decision," Journal of Political Economy, University of Chicago Press, vol. 66(4), pages 329-329.
    14. Chester B. Baker, 1967. "Research Orientations And Their Implications For Agricultural Economists," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 11(2), pages 154-170, December.
    15. James F. Thompson, 1966. "Discussion: Trends and Problems in Growth of Farm Size," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 48(5), pages 1519-1521.
    16. Martin, J. Rod & Plaxico, James S., 1967. "Polyperiod Analysis of Growth and Capital Accumulation of Farms in the Rolling Plains of Oklahoma and Texas," Technical Bulletins 171583, United States Department of Agriculture, Economic Research Service.
    17. Odell L. Walker & James R. Martin, 1966. "Firm Growth Research Opportunities and Techniques," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 48(5), pages 1522-1531.
    18. M. E. Wirth, 1964. "Lifetime Changes in Financial Problems of Farmers," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 46(5), pages 1191-1197.
    19. Stewart, J. D. & Thornton, D. S., 1962. "A Problem In Phased Development," Reading Agricultural Economics Archive 272741, University of Reading.
    20. Wilfred Candler, 1960. "Reflections on "Dynamic Programming Models"," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 42(4), pages 920-926.
    21. Baker, Chester B., 1967. "Research Orientations And Their Implications For Agricultural Economists," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 11(2), pages 1-17, December.
    22. Irwin, George D., 1968. "A Comparative Review of Some Firm Growth Models," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 20(3), pages 1-20, July.
    23. George D. Irwin, 1966. "Discussion: Firm Growth Research Opportunities and Techniques," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 48(5), pages 1532-1535.
    24. Bailey, Warren R., 1967. "Necessary Conditions for Growth of the Farm Business Firm," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 19(1), pages 1-8, January.
    25. Eidman, Vernon R. & Carter, Harold O. & Dean, Gerald W., 1968. "Decision Models for California Turkey Growers," Monographs, University of California, Davis, Giannini Foundation, number 251921, December.
    26. Walter R. Butcher & Norman K. Whittlesey, 1966. "Trends and Problems in Growth of Farm Size," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 48(5), pages 1513-1519.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Iotti, Mattia, 2023. "Financial evaluation and credit access of agricultural firms," Economia agro-alimentare / Food Economy, Italian Society of Agri-food Economics/Società Italiana di Economia Agro-Alimentare (SIEA), vol. 25(2), October.
    2. Malcolm, Bill & Sinnett, Alex, 2007. "Future Productivity and Growth in Dairy Farm Businesses in New Zealand: the Status Quo is Not an Option," Papers 234175, University of Melbourne, Melbourne School of Land and Environment.
    3. Walker, Odell L. & Hardin, Mike L. & Mapp, Harry P., Jr. & Roush, Clint E., 1979. "Farm Growth And Estate Transfer In An Uncertain Environment," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 11(1), pages 1-12, July.
    4. Mattia Iotti, 2023. "Financial evaluation and credit access of agricultural firms," Economia agro-alimentare, FrancoAngeli Editore, vol. 25(2), pages 31-67.
    5. Rolf Olsson, 1989. "Gérer pour réussir dans l'agriculture moderne," Économie rurale, Programme National Persée, vol. 189(1), pages 55-64.
    6. Throsby, C.D., 1973. "New Methodologies in Agricultural Production Economics: a Review," 1973 Conference, August 19-30, 1973, São Paulo, Brazil 181385, International Association of Agricultural Economists.
    7. Christy, Ralph D., 1987. "The Role Of Farmer Cooperatives In A Changing Agricultural Economy," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 19(1), pages 1-8, July.
    8. Nuthall, Peter L., 1980. "A Survey of Methods for Determining A Planning Horizon," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 48(01), pages 1-15, April.
    9. Ockwell, Anthony P. & Batterham, Robert L., 1982. "The Influence of Credit on Farm Growth," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 50(03), pages 1-18, December.
    10. Kwo-Shin Chen & Emerson M. Babb & Lee F. Schrader, 1985. "Growth of large cooperative and proprietary firms in the US food sector," Agribusiness, John Wiley & Sons, Ltd., vol. 1(2), pages 201-210.
    11. Ryan, James G., 1976. "Growth And Size Economies Over Space And Time: Wheat-Sheep Farms In New South Wales," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 20(3), pages 1-19, December.
    12. Harrison, Stephen R. & Longworth, John W., 1977. "Optimal Growth Strategies For Pastoral Firms In The Queensland Brigalow Scheme," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 21(2), pages 1-7, August.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Baker, C.B. & Barry, Peter J. & Lee, Warren F. & Olson, Carl E. & Hochman, Eithan & Rausser, Gordon S. & Kottke, Marvin W., 1977. "Economic Growth of the Agricultural Firm," Western Region Archives 260636, Western Region - Western Extension Directors Association (WEDA).
    2. Walker, Odell L. & Hardin, Mike L. & Mapp, Harry P., Jr. & Roush, Clint E., 1979. "Farm Growth And Estate Transfer In An Uncertain Environment," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 11(1), pages 1-12, July.
    3. Reid, Donald W. & Musser, Wesley N. & Martin, Neil R., Jr., 1978. "Income Tax Aspects Of Liquidation In Multiperiod Linear Growth Models," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 10(2), pages 1-6, December.
    4. Humberd, D. Ray, 1971. "Actual Versus Potential Growth Of A Farm Firm: An Ex Post Analysis," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 3(1), pages 1-7, December.
    5. Brake, John R. & Melichar, Emanuel, 1977. "Agricultural Finance and Capital Markets," A Survey of Agricultural Economics Literature, Volume 1: Traditional Fields of Agricultural Economics 1940s to 1970s,, Agricultural and Applied Economics Association.
    6. Harrison, Stephen R. & Longworth, John W., 1977. "Optimal Growth Strategies For Pastoral Firms In The Queensland Brigalow Scheme," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 21(2), pages 1-7, August.
    7. Jensen, Harald R., 1977. "PART I. Farm Management and Production Economics, 1946-70," AAEA Monographs, Agricultural and Applied Economics Association, number 337213, january.
    8. Kolajo, Ebenezer F. & Martin, Neil R., Jr., 1987. "Farm Firm Decisions Modeling: A Methodological Evaluation Of Alternative Farm Growth Modeling Approaches," 1987 Annual Meeting, August 2-5, East Lansing, Michigan 269948, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    9. Boehlje, Michael, 1973. "The Entry-Growth-Exit Processes In Agriculture," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 5(1), pages 1-14, July.
    10. Giardini, Giovanni, 1992. "The reform of the agricultural policy in the European Economic Community: an Italian farm simulation study," ISU General Staff Papers 1992010108000017587, Iowa State University, Department of Economics.
    11. Brake, John R. & Melichar, Emanuel, 1977. "PART VI. Agricultural Finance and Capital Markets," AAEA Monographs, Agricultural and Applied Economics Association, number 337218, january.
    12. Rae, Allan N., 1970. "Capital Budgeting, Intertemporal Programming Models, With Particular Reference To Agriculture," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 14(1), pages 1-14, June.
    13. Reinhard H. Schmidt, 2015. "Theoriegeschichte, Methodologie, Unternehmenstheorie und Finanzierung im Werk von Dieter Schneider," Schmalenbach Journal of Business Research, Springer, vol. 67(4), pages 466-489, December.
    14. Gino Favero & Gherardo Piacitelli, 2024. "Irr and equivalence of cash-flow streams, loans, and portfolios of bonds," Decisions in Economics and Finance, Springer;Associazione per la Matematica, vol. 47(2), pages 379-399, December.
    15. Marc Bertonèche & Herwig Langohr, 1977. "Le choix des investissements en situation de rationnement du capital : comparaison des solutions fournies par différents modèles théoriques," Revue Économique, Programme National Persée, vol. 28(5), pages 730-764.
    16. Osborne, Michael J., 2010. "A resolution to the NPV-IRR debate?," The Quarterly Review of Economics and Finance, Elsevier, vol. 50(2), pages 234-239, May.
    17. Alex Coad, 2007. "Firm Growth: a Survey," Post-Print halshs-00155762, HAL.
    18. Malcolm, Bill, 2000. "Farm Management Economic Analysis: A Few Disciplines, a Few Perspectives, a Few Figurings, a Few Futures," 2000 Conference (44th), January 23-25, 2000, Sydney, Australia 171920, Australian Agricultural and Resource Economics Society.
    19. Sawani, Mustafa A. & Finley, Robert M. & Kliebenstein, James B., 1986. "Impact Of Farm Indebtedness On Farm Income And Survival," 1986 Annual Meeting, July 27-30, Reno, Nevada 278069, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    20. Canarella, Giorgio & Miller, Stephen M., 2018. "The determinants of growth in the U.S. information and communication technology (ICT) industry: A firm-level analysis," Economic Modelling, Elsevier, vol. 70(C), pages 259-271.

    More about this item

    Keywords

    Agribusiness;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:remaae:9633. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aaresea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.