Socio-Economic Parameters in Farm Performance

Abstract

<p> This study examines 43 farms in Seneca Township, and considers a number of social and economic factors which may influence farm management and levels of farm performance. </p> <p> A model of the farm manager is formulated to serve as a basic research directive. Data are obtained by means of farm interviews. Multiple regression analysis is used to estimate a standard production function, and to group farmers into performance categories, on the basis of production function residuals. Farmers of each performance group are compared in terms of relevant biographical characteristics, attitudes, farm decisions, and pertinent farm practices. </p> <p> It is concluded that major variations in farm performance can be explained in terms of differences among farmers in personal and family aspirations, differences in past and present economic opportunities, and differences in the extent to which farm adjustment and equilibrium levels of production have been achieved. </p> <p> Little evidence was found of important differences in managerial competence among full-time farmers. </p> <p> Location with respect to soil type, and associated differences in cost-return ratios appear to have some bearing upon the investment behaviour of farmers. This question however, warrants further investigation. </p>