Agriculture Reference
In-Depth Information
Table 8.5
Logit regression estimates of equipment control choice: British Columbia and Louisiana (1992)
(dependent variable=1ifequipment is leased;=0ifequipment is owned)
Independent variables
Predicted sign
CONSTANT
−
3.99
−
3.99
5.65)
∗
5.65)
∗
(
−
(
−
Capital constraints
WEALTH
−
1.04
−
(
−
8.63)
∗
NET WEALTH
−
1.06
−
(
−
6.02)
∗
Timeliness costs
MULTIPLE EQUIPMENT
.81
.82
+
(3.16)
∗
(3.18)
∗
SPECIALIZED EQUIPMENT
−
0.60
−
0.61
−
(
−
2.22)
∗
(
−
2.20)
∗
SHARED EQUIPMENT
1.90
1.91
+
(6.96)
∗
(6.96)
∗
Controls
ACRES
.000
.000
(2.82)
∗
(2.82)
∗
EDUCATION
0.12
0.13
(2.82)
∗
(2.83)
∗
EQUIPMENT VALUE
2.08
1.04
(6.45)
∗
(3.35)
∗
FARM SALES
0.15
0.16
(6.71)
∗
(6.71)
∗
WORKERS
0.18
0.18
(6.14)
∗
(6.14)
∗
% correct predictions
98.3
98.3
Log likelihood
−
300
−
300
2
(df )
Model
χ
339 (10)
339 (10)
Number of observations
4,961
4,961
Note:
t-statistics in parentheses.
∗
significant at the 5 percent level (one-tailed test for coefficient with predicted signs).
