Author(s) |
Lien, Gudbrand
Kumbhakar, Subal C
Hardaker, John Brian
|
Publication Date |
2017
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Abstract |
Empirical studies have often shown wide differences in productivity among firms. Although several studies have sought to identify factors causing such differences, only a few studies have examined the effects of risk and risk aversion on productivity. In this study, using Norwegian dairy farming data for 2009, we examined the effects of different aspects of risk on productivity. We used a range of variables to construct indices of risk taking, risk perception and risk management. These indices were then included as arguments in an input distance function which represents the production technology. Our results show that these risk indices did affect productivity. Regional differences in productivity, though small, were also found to exist, suggesting that unobserved edaphic factors that differ between regions also affected productivity.
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Citation |
Journal of Productivity Analysis, 47(3), p. 247-257
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ISSN |
1573-0441
0895-562X
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Link | |
Publisher |
Springer New York LLC
|
Title |
Accounting for risk in productivity analysis: an application to Norwegian dairy farming
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Type of document |
Journal Article
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Entity Type |
Publication
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