The Lease‐Purchase Decision for Agricultural Assets
借用公司金融方法分析农业资产租赁或购买的决策，计算盈亏平衡租金，并探讨出租人与承租人对称性及参数变化的影响。
Abstract The decision to lease or purchase an asset is analyzed with methodology adapted from the corporate finance literature. The methodology allows determination of a break‐even lease payment using a minimum of information. Symmetry between the lessee and lessor is also examined. Effects of changes in the discount rate, marginal tax rate, capital rationing, and other parameters on break‐even lease payments are examined analytically and numerically. Analysis of differences in the parameters of the lessee and lessor identifies conditions under which markets for leasing arrangements will exist.