Table 2 Summary statistics of variables...

Table 2

Summary statistics of variables used in the analysis

Variable	Measurement unit	Type	Mean	Std. dev.
Dependent variables*
Return on assets	(%)	Continuous	0.042	0.077
Asset turnover ratio	(%)	Continuous	0.224	0.214
Debt to assets	(%)	Continuous	0.268	0.245
Explanatory variables
Farmer age below 40	(0/1)	Dummy	0.097	–
Farmer age above 65	(0/1)	Dummy	0.194	–
Farm size	Ha on a logarithmic scale	Continuous	4.69	0.833
Rented land	(%)	Continuous	0.513	0.332
Total direct payments^#	(SEK/ha)	Continuous	8.53	0.369
LFA	(0/1)	Dummy	0.565	–
Crop input intensity	(SEK 10,000/ha)	Continuous	0.190	0.572
Labour input	(AWU)	Continuous	0.676	1.63
Agricultural diversification	(%)	Continuous	0.284	0.199
Farm diversification	(%)	Continuous	0.127	0.176

Variable	Measurement unit	Type	Mean	Std. dev.
Dependent variables*
Return on assets	(%)	Continuous	0.042	0.077
Asset turnover ratio	(%)	Continuous	0.224	0.214
Debt to assets	(%)	Continuous	0.268	0.245
Explanatory variables
Farmer age below 40	(0/1)	Dummy	0.097	–
Farmer age above 65	(0/1)	Dummy	0.194	–
Farm size	Ha on a logarithmic scale	Continuous	4.69	0.833
Rented land	(%)	Continuous	0.513	0.332
Total direct payments^#	(SEK/ha)	Continuous	8.53	0.369
LFA	(0/1)	Dummy	0.565	–
Crop input intensity	(SEK 10,000/ha)	Continuous	0.190	0.572
Labour input	(AWU)	Continuous	0.676	1.63
Agricultural diversification	(%)	Continuous	0.284	0.199
Farm diversification	(%)	Continuous	0.127	0.176

Note(s): The base year for the age of farmers is 2022. ^#Inverse hyperbolic sine transformation (Bellemare and Wichman, 2020). *Monetary variables are deflated using the Consumer Price Index and Producer Price Index (Jordbruksverket, 2023)

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