A Study On The Motivation Of The Rural Mutual Fund Organizations Mission Drift

As the interactive platform of the members to adjust the surplus and deficiency of the rural mutual fund organizations,which can meet the demand for loans to farmers simplely,and opened a new financing channel for agricultural production,improved the availability of loans to farmers.After the reform,the rural credit cooperatives has repeatedly evolved into commercial bank,the role of agriculture weakening gradually.Village bank and other financial institutions are more preferential measures.It’s a great significance in promoting the farmers’ income,accelerating the construction of new countryside and promoting the process of agricultural modernization of.However,as a new thing in rural areas of the rural mutual fund organizations,its development isn’t going smoothly,appeared of big eat small,the inside control and high interest ect.These problems make the cooperation between the members of the original lower,depart from the purpose of the cooperatives loan,the rural mutual fund organizations’ loan prone to high profit industries,tending to enhance the profit oriented organization,making mission drift occurred from time to time.The operation of the organization needs to have a relatively perfect governance to be bound,the full play of the governance effectiveness can correct the errors occurred during the development of the organization,and ensure the organization development along the established target.The capital structure and governance mechanism play an important role in restraining the organization’s mission shift.Based on this,through the analysis of cooperative capital structure and governance mechanism of rural funds,to explore the rural mutual cooperatives "mission drift" motivation.First of all,based on the analysis of mutual funds of the existing literature,frorm the perapective of organizational effectiveness to exploring the mission drift of rural funds;a framework of resource-based control analysis is constructed to explain the influence of the capital structure on the organization mission drift,at the same time,analyzing the impact of governance mechanism on mission drift,and put forward the through qualitative research hypothesis;effectiveness and organization"mission drift" governance on organizational analysis,and lay the foundation for the quantitative analysis of the paper.Secondly,mutual funds for agriculture,regional and members based on the characteristic,the union funds mutual funds invested in rural areas accounted for a measure of the degree of organization on the "mission drift",through the establishment of the multiple regression model,analysis of mutual funds capital structure,internal supervision,incentives for managers,members and external environment on the left mutual funds mutual funds rural delivery ratio test of the hypothesis of this paper,research.The use of case analysis,rural fund cooperatives in Binhai County capital structure and governance mechanism analysis,verify the above empirical findings from the real cases.Finally,summarize the capital structure and governance mechanism of inhibition of Rural Mutual Cooperatives "mission drift" path,and proposes targeted policy recommendations.Through the analysis of rural social capital structure and governance mechanism of"mission drift" mutual influence,this paper draws the following conclusions:(1)the rural fund mutual cooperative capital structure influence the organization "mission drift" degree.(2)the governance mechanism of fund mutual cooperative affects the organization "mission drift" degree.capital mutual cooperatives’ internal supervision,management incentive,members of dropout and the external environment influence the degree of realization of the development objectives of the organization.(3)the full play of the organization governance can inhibit the organization’s mission drift degree.Theoretical analysis framework of the effectiveness of organization governance and empirical combination based on it can be improve the organization,capital structure and governance mechanism of inhibiting tissue"mission drift" effect.And then put forward the corresponding policy recommendations,through the optimization of capital structure,capital constraints,large profit claim;realize the coordinated development of "genius" treatment groups and democratic management,guarantee the members participate in;improve the incentive mechanism to managers,reduce internal collusion;strengthening members exit mechanism,increase management irregularities opportunity cost;to perfect the external environment mutual funds,promote the healthy and sustainable development.