Brief Summary of Minutes of Annual Meeting

NC-1177 Multi-state Research Project on Agricultural and Rural Finance Markets in Transition

Annual Meeting, via videoconference

Thursday, October 7, 2021

Minutes

Called to order: 12:40 PM Central Time

1. Informational items
   1. Status of NC-1177 Multi-state project (renewed effective October 1, 2019)
      1. Meeting slides, abstracts, and upload on NIMMS for reporting purposes. Publications, book chapters, related work to submit
      2. In the interest of reporting on the work of the multistate, collecting work from members related to the multistate but not otherwise reported. Reporting on impacts through societal measures like industry impacts for example.
      3. U of Missouri requested entering the multistate
      4. Lawson will reach out for needed information and add the years that are missing from the previous years to go to AgEcon Search (Ani’s suggestion)
   2. AAEA AFM updates
      2021. Deadline for track sessions is Dec. 2^nd 2021. Andrew will send a call and assemble track sessions for the 2022 AAEA meeting. We have 2 sessions allocated
      2022. Recap on new journal. JAAEA released early next year. Open access journals and it will be linked to AJAE and AEPP so submissions not a good fit for these journals will be given the option to be forwarded to this new journal

• Summarizing plans on using AFM’s increasing funds
  1. Awards: Travel grand. Ana Claudia mentioned that the first draft of the proposal was circulated but no feedback was provided. We welcome feedback and if no objections arise, we will have students to apply for the NC1177 meetings and the following year for AAEA.

1. Plans for future NC-1177 meetings (dates, locations, virtual vs in-person)
   1. Virtual meeting for the last 2 years. Uncertainty for the next year.
   2. Valuable to continue with NACC and use their facilities and interaction with industry.

• Suggestion of having a second in-person meeting not in the Fall. Funds come with these meetings. One in this fiscal year and one for the next fiscal (the usual Fall meeting). Perhaps not with NACC this Spring.
  1. Suggestions on holding second meeting: Joining with the SCC-76 meeting in the spring, rotating years they join us and we join them. Joining with the NACC meeting in Washing DC. Meeting on a college campus.
  2. Suggestions for spring meeting format: Round table vs presentation style. Discuss potential research and seek opportunities for collaboration on topics of interest. Meet in sub-groups of topics of interest. Potential discussion on AFRI grant proposals.
  3. Agree to have meeting in the spring. NC-1177 executive members to meet and work on options for spring meeting with SCC-76.

1. Journal Update
   1. Ag Finance Review
      1. About 20 papers for publication in the next year and 15 are under review. Two special issues are coming.
      2. 135 submissions and have published the 5^th and final issue for current (2021) volume.
      3. Requests:
         1. Review for the journal. Foreign reviewers with interest in finance and land values welcome.
         2. Submit to the journal. Let department heads know the good quality of the journal.
         3. Cite research published in the journal
      4. Previous special issue wrapped up and requests for other special issues related to the topic area of the journal are welcome. Need 6-10 papers for a special issue.
   2. AAEA journals
      1. See discussion in AAEA AFM updates
   3. Old business
      1. What is the best way to solicit, accept, and schedule presentations at NC-1177 meetings?
         1. Will place presentations on AgEcon Search and back fill (discussed above)
      2. Things we can improve on.
         1. Continue lightning sessions. Think of how to accommodate job market students
      3. New business
         1. Announcements/Changes
            1. Purdue (2 positions), Cornell (1 position), Kansas (1 position), LSU (2 positions)
         2. Other announcements
            1. GSS will start a series of seminars. One series would be on ag finance management topic. Waiting on two more graduate students to sign up. An AFM member, or more, would be searched to provide feedback to the presenters.
         3. Election of new officers
            1. Current officers are Wendong Zhang (Past President), Lawson Connor (President), Ana Cláudia Sant’Anna (President-elect/secretary)
            2. Andrew Stevens nominated and seconded to be NC-1177 president elect
               1. Elected without objection
            3. At the end of the meeting, NC-1177 leadership will be: Lawson Connor (Past President), Cláudia Sant’Anna (President), Andrew Stevens (President-elect/secretary)

Adjourn 1:48 PM Central Time

Member Accomplishments in 2021

Member Name: Ani Katchova

Journal articles:

Kuethe, T.H., S.S. Bora, and A.L. Katchova. “Improving ERS’s Net Cash Income Forecasts using USDA Baseline Projections.” Journal of Agricultural and Resource Economics (2021). https://doi.org/10.22004/ag.econ.310528

Bora, S.S., A.L. Katchova, and T.H. Kuethe. “The Rationality of USDA Forecasts under Multivariate Asymmetric Loss.” American Journal of Agricultural Economics (2021) 103, 3:1006-1033. https://doi.org/10.1111/ajae.12142

Isengildina-Massa, O., B. Karali, T.H. Kuethe, A.L. Katchova. “Joint Evaluation of the System of USDA’s Farm Income Forecasts.”  Applied Economic Perspectives and Policy (2021). https://doi.org/10.1002/aepp.13064

Sant’Anna, A.C., C. Cowley, and A.L. Katchova. “Exploring the Relationship between Land Values and Credit Availability.” Journal of Agricultural and Applied Economics (2021) 53: 209-228. https://doi.org/10.1017/aae.2020.32

Chen, J., A.L. Katchova, and C. Zhou. “Agricultural Loan Delinquency Prediction Using Machine Learning Methods.” International Food and Agribusiness Management Review (2021) 24(5): 797-812. https://doi.org/10.22434/IFAMR2020.0019

Dinterman, R., and A.L. Katchova. “Survival Analysis of Farm Bankruptcy Filings: Evaluating the Time to Completion of Chapter 12 Bankruptcy Cases.” Agribusiness: An International Journal (2021) 37, 2:324-347. https://doi.org/10.1002/agr.21662

Grants:

“Evaluating the USDA Agricultural Baseline Projections.” PI: A.L. Katchova, GRAs: Siddhartha Bora, Rabail Chandio, and Kexin Ding, USDA-ERS Cooperative Agreement, ERS Administrator Office, $90,000, 2021-2023.

Awards:

Outstanding Research Award for American Journal of Agricultural Economics article “The Rationality of USDA Forecasts under Multivariate Asymmetric Loss,” by Bora, Katchova, and Kuethe, Agricultural Finance and Management Section, Agricultural and Applied Economics Association, 2021.

Member Name: Ana Claudia Sant’Anna

Journal articles:

Nguemgaing, H.* and Sant’Anna, A.C. 2021 “The Impact of Supply Chain Disruptions on Stock Market Returns during Covid-19” Agriculture Finance Review. 2021: Vol. ahead-of-print No. ahead-of-print. (LINK) 

Sant’Anna, A.C., Katchova, A. L., Cowley, C. “Exploring the relationship between land values and credit availability” Journal of Agricultural and Applied Economics, 2021:1-20 (LINK) 

Non-Peer Reviewed:

Demko, I; Sant'Anna, A. C., Liang, K. (2021) "An Overview of the Paycheck Protection Program (PPP) Loans and Implications to Agricultural Enterprise Recovery from COVID" Journal of Agriculture, Food Systems, and Community Development (accepted) 

Awards:

Distinguished [ACS1] Professional Contribution Award, awarded by the Southern Agricultural Economics Association, 2021. (SAEA Poster)

Grants:

Alcorn State University Policy Research Center – Sub-Award ($55,011). “How diverse if FCS Leadership? A report on the ethical and cultural representation of FCS governing boards and leadership staff” Sant’Anna, A.C. (PI). Approved. 

Conference Presentations 2021 (* indicates student):

AAEA Meetings,  Sant'Anna, A.C.(presenter) and Demko, I. Can FinTech and Non-Traditional lenders increase credit access in Agriculture? Evidence from the Paycheck Protection Program.  2021

34th Annual Virtual Graduate Student Research and Creative Scholarship Conference. Nguemgaing, H. (presentation*) and Sant'Anna, A.C. How Covid-19   Affected   the   Stock   Market   Returns   of   Meat   Processors   in   The   U.S:   An   Event   Study Approach

NAREA Annual Conference. Nguemgaing, H. (presentation*) and Sant'Anna, A.C. How   Covid-19   Affected   the   Stock   Market   Returns   of   Meat   Processors   in   The   U.S:   An   Event   Study Approach

Posters:

SAEA Virtual Annual Meeting (poster) Nguemgaing, H. and Sant'Anna, A.C. The Impact of Supply Chain Disruptions on Stock Market Returns During Covid-19. 2021

2021 fall meeting slides can be found online at: AgEcon Search - 2021 NC-1177 Meeting slides