Returns to farm real estate: analysis of an Illinois farmland portfolio

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.

Name thesis:degree_name

M.S.

Level thesis:degree_level

Thesis

Discipline thesis:degree_discipline

Agr & Consumer Economics

Grantor

University of Illinois at Urbana-Champaign

Year dc:date

2010

Author dc:creator

• Noland, Kevin L.

Contributors dc:contributor

• Schnitkey, Gary D.

• Farmland returns
• Optimal portfolios
• Farmland analysis
• Capital asset pricing model (CAPM)

Statement dc:rights

• Copyright 2010 Kevin L. Noland

Language dc:language

en

Handle dc:identifier

http://hdl.handle.net/2142/15986

OAI identifier oai:identifier

oai:www.ideals.illinois.edu:2142/15986