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The Return-Risk Structure of Lowland Agriculture in Northern Ireland

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  • McKillop, D G

Abstract

The intention of this paper is to employ the single index model, founded in the work of W. Sharpe (1963) to develop risk measures for lowland agriculture in Northern Ireland. A central feature of the single index model is the beta coefficient, which measures each enterprise's systematic risk and allows enterprises, in terms of their returns variability, to be classified as defensive, neutral, or aggressive. These beta coefficients are themselves then employed as input information in the derivation of optimal agricultural portfolios with the construction of these portfolios suggesting that the risk adverse farmer who wishes to minimize risk subject to a given return level should diversify across a range of enterprises. Copyright 1989 by Oxford University Press.

Suggested Citation

  • McKillop, D G, 1989. "The Return-Risk Structure of Lowland Agriculture in Northern Ireland," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 16(2), pages 217-228.
    • Handle: RePEc:oup:erevae:v:16:y:1989:i:2:p:217-28
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    Cited by:

    1. Cranfield, John A.L., 2002. "Persistence Of Price-Cost Margins In The U.S. Food And Tobacco Manufacturing Industries: A Dynamic Single Index Model Approach," Journal of Food Distribution Research, Food Distribution Research Society, vol. 33(2), pages 1-16, July.

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