Research On The Influence Of Asset Specificity On Contract Selection Of Family Farm Land Management Right Transfer

Since the concept of "family farm" was first proposed in the No.1 Document of China’s Central Committee in 2013,Chinese family farms have developed rapidly.As the basis of agricultural industry,land is the prerequisite for family farms to carry out moderate scale operation.By the end of 2020,the total area of farmland contracted by households in China has reached 248,827,600 acreages,and the expansion of the land transfer market has made the contradictions in the transfer more prominent.In order to avoid the transfer risk and protect the rights and interests of both parties,the transfer contract is indispensable.The current rural land circulation contract choice of the country,particularly of spontaneous circulation between farmers,still in the form of contract,transfer period,these three aspects existed unreasonable phenomenon of land rent,although the transfer contract agreed upon is determined jointly by family farms and farmers,but the larger selection of farmers,family farm plays a more important role in decision.In this context,it is of great significance to study the contract selection of family farm land management right transfer to promote effective farmland transfer and sustainable development of family farm.Based on theoretical analysis and actual research data,this paper systematically analyzes the development status,influencing factors and main problems of the transfer contract of family farm land management right.The theoretical model of asset specificity and contract selection of family farm land management right transfer is constructed.The research divides the choice of land management right transfer contract into the choice of contract form,contract term and contract rent.The asset specificity includes material asset specificity,human capital specificity,social capital specificity and site specificity.Accordingly,a hypothesis model that asset specificity affects the contract selection of family farm land management right transfer is proposed.Because there may be contemporaneous correlations between the transfer of family farm land management rights to contract form,duration,and rent choice,this study used Seemingly Unrelated Regression(SUR)to examine the possible correlation between contract form,contract duration,and contract rent.And eliminate the influence of the simultaneous correlation,the equations are combined to estimate,so as to improve the efficiency of estimation.The research shows that :(1)when the specificity of family farm material assets is improved,written,long-term and high-rent contracts are more likely to be formed in the transfer of land management rights.(2)When the human capital specificity of family farmers is improved,it will be more conducive to reducing the transfer price of land management rights and forming written and long-term transfer contracts.(3)Enhanced specificity of social capital will make family farms more tend to form oral contracts.(4)Site specificity has a positive impact on the contract selection of family farm land management right transfer.(5)When a third party participates in supervising the transfer of land management rights,family farms are more likely to form written,long-term and low-rent contracts.