caa a22 4500 388054735 CHVBK 20180307125102.0 cr unu---uuuuu 161130e199812 xx s 000 0 eng 10.1017/S107407080000835X doi S107407080000835X pii (NATIONALLICENCE)cambridge-10.1017/S107407080000835X Impacts of Financial Characteristics and the Boom-Bust Cycle on the Farm Inventory-Cash Flow Relationship [Elektronische Daten] [Ralph Bierlen, Bruce L. Ahrendsen, Bruce L. Dixon] The sensitivity of farm inventory investment to movements in cash flow is tested. Inventories should be sensitive to shifts in cash flow because inventory investment is readily reversible and inventories are a significant portion of assets. Investment models estimated with Kansas farm panel data indicate that: (a) farms absorb internal finance shocks by adjusting inventories, (b) the inventory investment of livestock and high-debt farms are more sensitive to movements in cash flow than crop and low-debt farms, and (c) inventory investment is more sensitive to cash flow during the 1981-86 bust and the 1987-92 recovery than during the 1975-80 boom. Copyright © Southern Agricultural Economics Association 1998 cash flow nationallicence credit constraints nationallicence farm cycles nationallicence farm inventories nationallicence investment nationallicence investment models nationallicence Bierlen Ralph Department of Agricultural Economics and Agribusiness at the University of Arkansas aut Ahrendsen Bruce L. Department of Agricultural Economics and Agribusiness at the University of Arkansas aut Dixon Bruce L. Department of Agricultural Economics and Agribusiness at the University of Arkansas aut Journal of Agricultural and Applied Economics Cambridge University Press 30/2(1998-12), 363-377 1074-0708 30:2<363 1998 30 AAE https://doi.org/10.1017/S107407080000835X text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1017/S107407080000835X text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Bierlen Ralph Department of Agricultural Economics and Agribusiness at the University of Arkansas aut NATIONALLICENCE 700 1- Ahrendsen Bruce L. Department of Agricultural Economics and Agribusiness at the University of Arkansas aut NATIONALLICENCE 700 1- Dixon Bruce L. Department of Agricultural Economics and Agribusiness at the University of Arkansas aut NATIONALLICENCE 773 0- Journal of Agricultural and Applied Economics Cambridge University Press 30/2(1998-12), 363-377 1074-0708 30:2<363 1998 30 AAE CC0 http://creativecommons.org/publicdomain/zero/1.0 nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-cambridge