The Research On The Influence Of Cooperative Internal Governance On Surplus Distribution

Farmers' Professional Cooperatives are the products of the Development of Modern Agriculture and the Progress of Market economy;it plays an important role in adding farmers' income and agricultural modernization.Under the background of the promulgation of ? the Law of Farmers' Professional Cooperatives? and the support of the government,the quickly development of cooperatives also brings about a lot of problems in operation and management.Among them,the problem of earnings distribution is very bad,and internal governance is an important factor affecting earnings distribution,which has bring huge concern of some scholars.Property rights theory says,the characteristics of property rights will affect the surplus distribution of cooperatives,and the degree of ownership concentration is an important index to measure the characteristics of property rights.Principal agent theory says that the governance structure and the heterogeneity of management participation will affect the effect of earnings distribution.Nevertheless,at now,foreign scholars and domestic mostly focus on the institutional arrangement,the legal level and so on,but there is little research on the influence of internal governance on the earnings distribution.So,from the part of internal governance,how does the property right structure affect the distribution of earnings? How does the governance structure affect the distribution of earnings? How does the heterogeneity of member management affect the distribution of earnings?The data selected in this paper are from the survey of cooperatives in various regions of Fujian Province from September 2017 to September 2018,as well as the investigation of the students of Fujian New Vocational Farmers College Class organized by our school.On the one hand,through on-the-spot visits,personal experience,face-to-face inquiry data;on the other hand,through interviews and ask to the directors of cooperatives in different regions of the new professional farmer class.Field research,random sampling,questionnaire and interview were used in the survey.Each questionnaire was filled out by the trained investigators in the form of one question one answer or the director of the co-operative to fill out the questionnaire in person.Finally,we can know this: first,the ownership structure has a positive correlation effect on the surplus distribution of cooperatives.The more ownership concentration is dispersed among ordinary members,the more reasonable property right structure is,the better the effect of surplus is.Second,the governance structure has a positive correlation effect on the surplus distribution of cooperatives.When more important matters of cooperatives are decided by the general meeting of people,the more reasonable the governance structure is,the better the effect of the distribution of the surplus of cooperatives is.Thirdly,the heterogeneity of management participation has a negative correlation effect on the earnings allocation of cooperatives.The greater the heterogeneity of management participation,the more vulnerable the interests of ordinary members will be infringed,and the more the discourse rights are concentrated in the hands of the core members,the less effective the earnings distribution will be.From this paper,we puts forward the following suggestions from different angles: Firstly,the property rights system should be regulated by increasing the proportion of public accumulation,restricting the capital contribution of the core members and encouraging the members to increase the transaction with cooperatives to regulate the property rights system.Second,through the regular disclosure of information,the active convening of the general assembly of members of the community,to strengthen the implementation of the Council of Supervisors to further improve the governance structure;Thirdly,improving the system of "three meetings" and setting up stock funds to improve the participation of ordinary members.