Table 3

Comparison of average values for variables used in the analysis by farm type

p-value for t-test of difference in means of dependent and independent variables
(a)(b)(c)(d)(e)(f)(g)(h)(i)(j)
(1)–(2)(1)–(3)(1)–(4)(1)–(5)(2)–(3)(2)–(4)(2)–(5)(3)–(4)(3)–(5)(4)–(5)
Dependent variables
Return on assets (ratio)***–***–***–******–***
Debt to asset (ratio)***–***–************–***
Asset turnover rate (ratio)*********–******************
Explanatory variables
Farmer age below 40––––––*******–
Farmer age above 65***–*********–************
Farm size–******************–––
Rented land***–*******************–
Total direct payments#****************************
LFA******–******************
Crop input intensity******–*********************
Labour input***–***–*****************
Agricultural diversification*********************–******
Farm diversification************–******–***

Note(s): The base year for the age of farmers is 2022. #inverse hyperbolic sine transformation (Bellemare and Wichman, 2020). (1)-mixed, (2)-dairy, (3)-other grazing livestock, (4)-granivores, (5)-field-crops. ***p < 0.01, **p < 0.05, *p < 0.1, “ − ” no statistically significant difference

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