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Financial Management in Agriculture, Seventh Edition, introduces students to modern concepts and tools of finance, developed and applied to the agricultural sector. Using case studies, practical problems, and a lucid presentation, the text focuses on planning, analyzing, and controlling business performance in agriculture and related financial markets. This new edition addresses recent structural changes in the food system, covering important topics such as the growth in vertical coordination within the food and fiber system, and the significant implications for financial analysis and risk management by those managing or financing the agricultural sector.

The Seventh Edition covers the latest in agricultural finance–including the following major changes and updates:
• The treatment of credit risk assessment and lender-borrower relationships in a separate chapter (chapter 5) that is intended to provide a bridge between the perspectives of borrowers and lenders.
• The adoption of the weighted average cost-of capital in investment analysis.
• The inclusion of the new concepts of economic capital and risk-adjusted returns on capital into a chapter on management of financial institutions.
• Extended treatment of competition, financial regulation, and policy issues.
• A streamlined treatment of controlling farmland.
• Updated data, reference lists, institutional changes in financial markets, and other new developments.

Peter J. Barry

Peter J. Barry is Professor Emeritus, a Distinguished Chair of Agricultural Finance at the Department of Agricultural and Consumer Economics (ACE), University of Illinois.

He is a member of the American Agricultural Economics Association (AAEA).

Peter Barry received both his M.S. degree (1964) and Ph.D. (1969) from the University of Illinois. His research interests are in the field of agricultural finance, analysis of financial management, risk management, and financial markets for agriculture.

Paul N. Ellinger

Paul N. Ellinger is the Head of the Department of Agricultural and Consumer Economics and a professor specializing in finance and accountancy in the College of ACES at the University of Illinois.

Ellinger received his bachelor’s and master’s degrees from the University of Illinois in Agricultural Mechanization and Agricultural Economics. He then completed his Ph.D. in the Department of Finance at the University of Illinois.

He later joined the faculty in the Department of Agricultural and Consumer Economics in 1995 after three years as an assistant professor at Texas A&M University. He has had undergraduate and graduate teaching/advising responsibilities in accountancy, financial management and financial institution management.

Ellinger’s widely published research efforts have concentrated on financial modeling, credit risk, performance, merger activity, and financial management of institutions. He has been invited to speak on economic and financial risk management issues before government agencies, academic conferences, various industry groups, and numerous consumer stakeholder groups. He has also been an invited participant in lender, banker, executive development and director workshops across the United States as well as Canada, China and Europe. He has received multiple outstanding teaching awards in undergraduate, graduate and Extension education.

Ellinger is a fellow in the Academy of Entrepreneurial Leadership. He is an advisor for Vision for Illinois Agriculture. He is one of the principal developers of FAST software tools, a nationally awarded program that is designed to assist users in performing financial analysis, assessing investment decisions and evaluating the economic impacts of various management decisions.

He was raised on a grain farm in Livingston County.