Impact of asset specificity on the choice of land tenure transfer contracts for family farms
[Objective]In order for family farms to achieve"scale,intensification,and specialization"in land management,it is necessary to have land with low rent,long lease terms,concentrated and contiguous plots,and stable contracts.Exploring the factors influencing the choice of land tenure transfer contracts for family farms can provide references for improving the stability of family farm land tenure and promoting sustainable development.[Method]Based on microdata from 520 family farms in Hunan province,this study uses seemingly unrelated regression models to verify the impact of asset specificity on the choice of land tenure transfer contracts for family farms.[Result]1)Physical asset specificity,human capital specificity,and site specificity were significantly positively correlated with the choice of land tenure transfer contract forms for family farms,while social capital specificity was significantly negatively correlated.2)Physical asset specificity,human capital specificity,and site specificity had a significant positive impact on the choice of lease term for family farms'land tenure transfer contracts,while social capital specificity was significantly negatively correlated.3)Physical asset specificity,human capital specificity,and site specificity had a significant positive impact on the lease rent of family farm land tenure transfer contracts,while social capital specificity had a significant negative impact.[Conclusion]By comprehensively applying seemingly unrelated models to analyze the relationship between asset specificity and the choice of land tenure transfer contracts for family farms,this study provides a scientific basis for promoting the stability and healthy sustainable development of land tenure transfer for family farms.
family farmland tenure transfercontract choiceseemingly unrelated regression
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