VALUATION OF INTANGIBLE CAPITAL IN AGRICULTURE

This study examines the valuation of research as intangible capital in agriculture using Tobin's q theory. The market value of public research capital is estimated to be 8.6 times higher than conventional assets. Private research capital is valued 5.2 times higher than conventional assets. The estimated valuation multiplier for all farm assets dropped 1/3 over the last decade. In recent years the valuation multiplier has dropped below a dollar, which indicated the market is undervaluing farm assets.


Issue Date:
1995-12
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/15276
Published in:
Journal of Agricultural and Applied Economics, Volume 27, Number 2
Page range:
437-445
Total Pages:
9




 Record created 2017-04-01, last modified 2017-08-23

Fulltext:
Download fulltext
PDF

Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)