Research Of Agricultural Industry Chain Financing On The Production Efficiency Of Large-scale Farmers

In recent years,with the rapid development of the agricultural and rural economy,new pattern of modern agricultural production,which is based on the family contracted management is being gradually formed,consist of professional large farmers,family farms,professional cooperative agency of farmers,and agricultural leading enterprises.Various types of modern agricultural management entities have shown a good momentum of vigorous development.Cultivate new types of agricultural management and accelerating agricultural modernization have become an important part of China's rural rejuvenation strategy.Large-scale farmers,including professional large farmers and family farms,are the direct suppliers of primary agricultural products in the new agricultural operations.Their production behavior directly affects the quantity and quality of downstream production and consumption in the industrial chain.However,the operation model of large-scale and intensive production and is far more expensive than the traditional small-scale farmers.Large-scale farmers are experiencing both serious internal and external financial constraints due to the weakness of agriculture and financial profitability,which severely limited the technology update and the progress of agricultural information.As a result,the production efficiency is quite difficult to increase.Fortunately,the agricultural industry chain financing is just made up for this demand gap.Therefore,this paper examines the impact of financing under organizational forms of different industries on the productivity of large-scale farmers,based on the perspective of efficiency improvement.This paper firstly discusses the influence and significance of the agricultural industry chain financing on the agricultural development of our country combining the background of the industrialization development of the new agricultural management main body.Based on the existing researches,this paper draws lessons from the theory of production factors,stochastic frontier theory,transaction cost theory and knowledge spillover theory,and clarifies the mechanism of the agricultural industry chain financing on production efficiency.Secondly,this paper uses field survey data of 322 large-scale farmers in Jiangsu Province to analyze the production efficiency of large-scale farmers under different management types and different personal characteristics.Further descriptive analysis was conducted on the participation and financing of rural households'industrial chains,and the impact of different types of industrial chain financing on the income of farmers and the production efficiency of single factors was explored.Then,in this paper,the stochastic frontier one-step method is used to regression the logarithmic production function model.On the basis of measuring the total factor productivity of large-scale farmers,this paper empirically tests the effect of the scale of rural households on the production chain by the industry chain financing.Finally,It summarizes the above research conclusions and put forward corresponding policy recommendations.Through research,this paper draws the following conclusions:First of all,the participation of large-scale rural households in the industrial chain is relatively high,but the interest linkage between the main bodies of the industrial chain is not close enough,and the service supply capacity of the industrial chain organization needs to be improved.The financing of financial institutions and the financing of the agricultural industry chain can not fully meet the funding needs of large-scale farmers.There are widespread financing constraints for large-scale farmers,but it also highlights the positive effect of the acquisition of agricultural industry chain financing on the production and operation of large-scale farmers,among which the leading companies provide The industry chain financing services have the most significant role in promoting the income of rural households and their single factor productivity.Second,the cooperatives,agricultural machinery companies and other ordinary suppliers do not expand the level of investment of farmers,to a certain extent,limiting the income effects of such financing services.To further measure the total factor productivity of large-scale farmers,the analysis finds that there are significant production inefficiencies in the production and management of large-scale farmers,and there is a phenomenon of diminishing returns to scale.Compared with land and labor,the output elasticity of physical capital is the largest.The empirical analysis shows that the acquisition of the scale of rural households' industrial chain financing is conducive to the improvement of its total factor productivity,and the different industrial chain organization forms have different effects on the promotion effect of the scale of rural households' production efficiency.Compared with farmers'cooperatives,they come from leading enterprises and agricultural machinery companies.The industrial chain financing of suppliers is more conducive to the improvement of the production efficiency of large-scale farmers.In addition,the effect of the productive services provided within the industry chain on the production efficiency of rural households is not significant,the brand effect needs to be improved,and the advantages of modern agricultural efficiency have not been fully realized.Based on this,this paper proposes corresponding policy measures.(1)Strengthen the policy support to encourage large-scale farmers to participate in the industry chain appropriately;(2)Strengthen financial support for agriculture in the agricultural industry chain to make up for funding gaps in agriculture;(3)Adhere to appropriate scale operations and promote agricultural technological progress;(4)Strengthen the supervision of farmers' professional cooperatives and promote cooperatives to regulate their operations.(5)Strengthen the promotion of agricultural technology as needed,and upgrade the quality and level of technical services;...