Table 6 Post double selection LASSO OLS...

Table 6

Post double selection LASSO OLS for the amount of short-term debt: gender, race, and experience

	Male	Female	Non-white	White	Experienced	Beginning
Covid government payments (million $)	0.373 (0.431)	2.302 (3.108)	−1.360 (3.538)	0.408 (0.452)	0.392 (0.451)	0.0274 (1.166)
Short-Term Interest Rate (%)	−0.0189^*** (0.00250)	0.00188 (0.00955)	−0.0206 (0.0160)	−0.0175^*** (0.00240)	−0.0190^*** (0.00259)	−0.0115^* (0.00560)
Crop Insurance Use (1/0)	0.0397 (0.0275)			0.0460 (0.0348)	0.0439 (0.0410)
Individual Farm (1/0)	−0.0915 (0.0607)			−0.0658 (0.0594)	−0.0814 (0.0746)
Farm Investment (million $)	0.202^* (0.107)	0.403 (0.465)		0.185^* (0.0925)	0.212^* (0.112)	0.0497 (0.157)
Gross Farm Income (million $)	0.0873^*** (0.0266)			0.102^*** (0.0294)	0.0895^*** (0.0304)	0.219^** (0.0833)
Education (categorical)	0.00178 (0.00845)				0.00577 (0.00881)
Acreage (acres)	−0.00000827 (0.0000216)	−0.0000288 (0.0000418)			−0.00000913 (0.0000201)
Total Assets (million $)	0.0382^*** (0.0107)	0.0916 (0.0581)		0.0372^*** (0.0105)	0.0376^*** (0.0110)	0.0383 (0.0274)
Diversification (0–1)				0.0279 (0.0796)
Return on Assets (%)				0.0115 (0.170)	−0.00793 (0.194)	−0.233 (0.403)
Contracts Use						0.262^*** (0.0834)
Male (1/0)					0.0660^** (0.0273)
Constant	0.260^*** (0.0479)	0.0368 (0.0624)	0.284^*** (0.0668)	0.228^*** (0.0416)	0.162^*** (0.0523)	0.0961^*** (0.0215)
Observations	8,841	429	232	9,038	8,327	943
Represented Farms	796,811	79,605	25,931	850,485	715,296	161,120
Rˆ2	0.375	0.367	0.545	0.381	0.372	0.481
Number of Double Selection Lasso Controls	21	10	13	19	24	8
Number of Double Selection LASSO Interactions Related to
Gender				1	1
Race	3	1	2		2
Farm characteristics	7	5	5	8	8	2
Other farmer characteristics	4	1	6	3	4	1

	Male	Female	Non-white	White	Experienced	Beginning
Covid government payments (million $)	0.373 (0.431)	2.302 (3.108)	−1.360 (3.538)	0.408 (0.452)	0.392 (0.451)	0.0274 (1.166)
Short-Term Interest Rate (%)	−0.0189^*** (0.00250)	0.00188 (0.00955)	−0.0206 (0.0160)	−0.0175^*** (0.00240)	−0.0190^*** (0.00259)	−0.0115^* (0.00560)
Crop Insurance Use (1/0)	0.0397 (0.0275)			0.0460 (0.0348)	0.0439 (0.0410)
Individual Farm (1/0)	−0.0915 (0.0607)			−0.0658 (0.0594)	−0.0814 (0.0746)
Farm Investment (million $)	0.202^* (0.107)	0.403 (0.465)		0.185^* (0.0925)	0.212^* (0.112)	0.0497 (0.157)
Gross Farm Income (million $)	0.0873^*** (0.0266)			0.102^*** (0.0294)	0.0895^*** (0.0304)	0.219^** (0.0833)
Education (categorical)	0.00178 (0.00845)				0.00577 (0.00881)
Acreage (acres)	−0.00000827 (0.0000216)	−0.0000288 (0.0000418)			−0.00000913 (0.0000201)
Total Assets (million $)	0.0382^*** (0.0107)	0.0916 (0.0581)		0.0372^*** (0.0105)	0.0376^*** (0.0110)	0.0383 (0.0274)
Diversification (0–1)				0.0279 (0.0796)
Return on Assets (%)				0.0115 (0.170)	−0.00793 (0.194)	−0.233 (0.403)
Contracts Use						0.262^*** (0.0834)
Male (1/0)					0.0660^** (0.0273)
Constant	0.260^*** (0.0479)	0.0368 (0.0624)	0.284^*** (0.0668)	0.228^*** (0.0416)	0.162^*** (0.0523)	0.0961^*** (0.0215)
Observations	8,841	429	232	9,038	8,327	943
Represented Farms	796,811	79,605	25,931	850,485	715,296	161,120
Rˆ2	0.375	0.367	0.545	0.381	0.372	0.481
Number of Double Selection Lasso Controls	21	10	13	19	24	8
Number of Double Selection LASSO Interactions Related to
Gender				1	1
Race	3	1	2		2
Farm characteristics	7	5	5	8	8	2
Other farmer characteristics	4	1	6	3	4	1

Note(s): This table shows the estimation results for equation (5) $y_{i} = {β_{0} {+ β}_{int} int}_{i} + β_{g o v} {g o v}_{i} + β_{x} \tilde{x_{i}} + ε_{i}$ where $y_{i}$ refers to the dollar amount of short-term debt. LASSO selected interactions within $\tilde{x}$ are classified as being related to gender, race, farm characteristics, and other farmer characteristics at the bottom of the table depicting the relevance of each category of controls for the estimated association. Standard errors in parentheses. ^*p < 0.10, ^**p < 0.05, ^***p < 0.01

Source(s): Authors own work

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