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Description
Title: | Returns to farm real estate: analysis of an Illinois farmland portfolio |
Author(s): | Noland, Kevin L. |
Advisor(s): | Schnitkey, Gary D. |
Department / Program: | Agr & Consumer Economics |
Discipline: | Agr & Consumer Economics |
Degree Granting Institution: | University of Illinois at Urbana-Champaign |
Degree: | M.S. |
Genre: | Thesis |
Subject(s): | Farmland returns
Optimal portfolios Farmland analysis Capital asset pricing model (CAPM) |
Abstract: | Previous research on returns to farmland derived data from aggregate U.S. or regional sources. A distinction of this document is that an actual portfolio of Illinois farms are evaluated. This thesis extends past research by analyzing a longer and more current period. The results suggest that Illinois farmland pays a substantial premium above what is required for systematic risk and that its returns are negatively correlated to most major asset classes. Illinois farmland adds very little risk to a well-diversified portfolio and is a hedge against inflation. |
Issue Date: | 2010-05-18 |
URI: | http://hdl.handle.net/2142/15986 |
Rights Information: | Copyright 2010 Kevin L. Noland |
Date Available in IDEALS: | 2010-05-18 2012-05-19 |
Date Deposited: | May 2010 |
This item appears in the following Collection(s)
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Graduate Dissertations and Theses at Illinois
Graduate Theses and Dissertations at Illinois -
Dissertations - Agricultural and Consumer Economics