Analysis On The Availability Of Formal Credit And Its Influencing Factors Of Planting Family Farms

In recent years,the state has vigorously supported the development of family farms and issued many policies to support the development of family farms.Family farms have become a form of agricultural collective economic organization that our country's agricultural industry has focused on.However,the agricultural economy is basically weak,with high natural risks and long production cycles.Under the condition of asymmetric information,due to the characteristics of the agricultural industry and the special circumstances of rural financing entities,coupled with the relative financing channels that family farms can choose It is single,and there are relatively few credit products from existing financial institutions,resulting in serious financial rationing of agricultural projects by formal financial institutions,and family farms are facing more serious financing difficulties.Therefore,broadening the financing channels of family farms and finding ways to solve the financing difficulties of family farms are new tasks that we urgently need to solve.At present,many scholars have conducted research from multiple perspectives such as the characteristics of family farm financing needs,family farm financing methods,family farm financing influencing factors,how to alleviate the difficulties of family farm financing,and the availability of formal credit,and have obtained rich theoretical results.However,it is the blank of the current research to explore the factors that affect the availability of formal credits after subdividing the family farms by business field.The credit needs and credit preferences of family farms of different business types may be different,and may also be different.Credit constraints and factors affect the availability of formal credit.This paper takes planting family farms as the main body of study,and analyzes the characteristics of credit demand of this type of family farms and the influencing factors of the availability of regular credit.On the basis of the existing research,this paper uses rural finance theory,credit rationing,information asymmetry theory and credit availability theory as guidance,and selects the data of 1344 planting family farms to analyze influencing factors of its regular credit availability.First of all,this paper reviews the development status of planted family farms in the sample area from the aspects of the basic situation of planted family farms,labor and land conditions,cost and benefit conditions,cooperation and insurance conditions,the distribution of credit demand and the selection of financing channels.Then,this paper takes the availability of formal credit as the explanatory variable,applies the ordered logistic regression model,and empirically screens for factors that have a significant impact on the availability of formal credit for planting family farms.Finally,based on the analysis results,this article proposes countermeasures to improve the availability of regular loans on planted family farms.The research in this paper draws the following conclusions: The main characteristics of family farms affecting the availability of formal credits for planting family farms include indicators such as whether they have received special training,and the number of years the farmer has engaged in agricultural scale operations.If the farmer has received training,the longer the farmer has been engaged in agricultural scale operations,the easier it will be to obtain formal credit.The main characteristics of labor and land conditions that affect the availability of formal credits for planting family farms include the number of family members working on the farm,the number of permanent laborers employed on the farm,the total area of farm operating land,and additional land transfer expenditures.The number of family members working on the farm,the number of permanent employees employed on the farm,and the larger the total area of farm operation land are,the easier it is to obtain financial support from formal financial institutions;the greater the new land transfer expenditure,the more difficult it is to obtain formal credit.The main characteristics of cost and profitability that affect the availability of formal credits for planting family farms are total farm income,purchase of agricultural inputs such as pesticides,fertilizers,and seeds,and total farm cost and other indicators.The higher the total income of the farm or the purchase of pesticides,fertilizers,and agricultural machinery service services,the easier it is to obtain financial support from formal channels;the larger the total farm cost,the more difficult it is to obtain formal credit.The main characteristics of cooperation and insurance that affect the availability of formal credits for planting family farms are whether they have signed sales contracts,whether they have joined cooperatives,and the amount of insurance claims.Signing sales contracts and joining cooperatives makes it easier for farming family farms to obtain formal credit;and the higher the amount of insurance claims,the easier it is for farming family farms to obtain formal credit.