000024131 001__ 24131
000024131 005__ 20180122202701.0
000024131 037__ $$a1529-2016-132042
000024131 041__ $$aen
000024131 245__ $$aInvestment Analysis of Agri-Food Ventures: What Risk Premia are Appropriate? The Silence of the Literature
000024131 260__ $$c1996
000024131 269__ $$a1996
000024131 300__ $$a16
000024131 336__ $$aWorking or Discussion Paper
000024131 446__ $$aEnglish
000024131 490__ $$aStaff Paper 96-01
000024131 520__ $$aFinancial principles of project investment analysis deal with the cost and benefit flows over time. Invariably, the correct future cash flows and exact risks are unknown. The agricultural academic literature devotes substantial energy to discussing the estimation of the cash flows but it is relatively silent on applied estimation of risk. Empirical studies on agri-food ventures have made little or no attempt to estimate appropriate risk adjusted discount rates or other risk measures. Choice of discount rate has been arbitrary. Thus little guidance has been given to practitioners analysing agri-food investments as to the appropriate risk adjusted discounts rates. The Capital Market Line provides a relatively straightforward way to calculate risk premiums for project investments by non-diversified investors. These risk premiums can then be used in Net Present Value investment analysis.
000024131 650__ $$aAgribusiness
000024131 650__ $$aRisk and Uncertainty
000024131 700__ $$aUnterschultz, James R.
000024131 700__ $$aQuagrainie, Kwamena K.
000024131 8564_ $$s76367$$uhttp://ageconsearch.umn.edu/record/24131/files/sp960001.pdf
000024131 887__ $$ahttp://purl.umn.edu/24131
000024131 909CO $$ooai:ageconsearch.umn.edu:24131$$pGLOBAL_SET
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sp960001.pdf: 76367 bytes, checksum: 41dfb793104a8580eeefdb988da77ad9 (MD5)
  Previous issue date: 1996
000024131 982__ $$gUniversity of Alberta>Department of Rural Economy>Staff Paper Series
000024131 980__ $$a1529