Abstract
Cooperatives and joint-stock companies in China and Western countries can form synergetic relations in theory and practice. The new farmer cooperatives in China also introduce the factors of shares, which need to make a theoretical interpretation. This paper reviews the theoretical research on cooperative system and shareholding system in academia, discusses the specific reasons for the integration of share factors into new farmer cooperatives, explains the symbiotic relationship between cooperatives and joint-stock companies, and demonstrates the history of mutual penetration of share factors and cooperation factors in Chinese and Western cooperatives, then analyzes the necessary and sufficient conditions for the symbiosis of cooperatives and joint-stock companies. Finally, it summarizes the symbiosis model of cooperatives and joint-stock companies at present, and provides the optimal design of its symbiosis mechanism.
Highlights
Farmer cooperative is a necessity to solve the problem of agriculture, rural areas and farmers in China to enhance the organization of farmers
This paper reviews the theoretical research on cooperative system and shareholding system in academia, discusses the specific reasons for the integration of share factors into new farmer cooperatives, explains the symbiotic relationship between cooperatives and joint-stock companies, and demonstrates the history of mutual penetration of share factors and cooperation factors in Chinese and Western cooperatives, analyzes the necessary and sufficient conditions for the symbiosis of cooperatives and joint-stock companies
Cooperatives are a form of cooperative organization established by the working people to jointly unite for cooperative production and cooperative operations; joint-stock company is a corporate legal person in which the company’s capital is a company consisting of shares and the shareholders are liable to the company for the shares they subscribe for. Can these two essentially different economic organizations be integrated? The academic world has a lot of different opinions, but the practice is ahead of the theory
Summary
Farmer cooperative is a necessity to solve the problem of agriculture, rural areas and farmers in China to enhance the organization of farmers. The shareholding cooperative system risen in the late 1990s has once become the main form of state-owned enterprises (SOE) and urban and rural collective economic restructuring in China In terms of this widely practiced organization form, is it the end of the cooperatives or spontaneous institutional innovation of Chinese farmers? The author believes that according to the “co-symbiosis” theory, the symbiotic units in the region can coordinate, develop and co-evolve Based on this understanding, this article is necessary to explore the symbiotic mechanism between cooperatives and joint-stock companies so as to make a theoretical interpretation of the integration of shareholding factors into the new type of farmer cooperatives in China
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