Premium
The Contribution of Financial Management Training and Knowledge to Dairy Farm Financial Performance
Author(s) -
JacksonSmith Douglas,
Trechter David,
Splett Nate
Publication year - 2004
Publication title -
applied economic perspectives and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.4
H-Index - 49
eISSN - 2040-5804
pISSN - 2040-5790
DOI - 10.1111/j.1467-9353.2003.00166.x
Subject(s) - business , training (meteorology) , finance , financial management , geography , meteorology
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.