Research On Sharing Of Credit Cooperation Risk In Farmer Professional Cooperatives From The Perspective Of Game

The development of credit cooperation business in specialized farmer cooperatives is a beneficial attempt to alleviate the financing difficulties.The state has issued the No.1Document for many times to encourage and regulate the development of credit cooperation business of cooperatives.The development of credit cooperation business by cooperatives has become an important issue for the development of cooperatives.Because cooperatives have exposed some risks in the process of developing credit cooperation,the reasonable sharing of credit cooperation risks between farmers and cooperatives is critical for cooperatives to develop credit cooperation.This research take internal credit cooperation business in farmers’ professional cooperatives as the research object,based on the cooperation finance theory,reputation effect,evolutionary game theory and risk management theory,analyses the credit cooperation mechanism between farmers and cooperatives from the aspects of monetary credit cooperation,commercial credit cooperation and associated credit cooperation,and then analyze the credit cooperation risk sharing game between farmers and cooperatives.Firstly,construct the risk ladder hierarchy structure of credit cooperation business and explain the risk factors of credit cooperation business.Then,in view of the risks existing in credit cooperation business,through the introduction of static game theory and dynamic game theory,carry out the research on risk sharing condition in credit cooperation business.Based on the static game theory,the risk factors in credit cooperation business are divided into risks assumed by cooperatives,risks assumed by farmers and risks shared by both parties,so as to determine the initial risk sharing scheme of credit cooperation business.Based on the dynamic game theory,the nominal proportion and actual proportion of sharing risks between farmers and cooperatives are solved through the bargaining game process in the negotiation of the optimal strategy.Taking Sannongle Cooperative as an example,the paper introduces its cooperation mechanism and the risk sharing game of credit cooperation business.The research shows that: pure monetary credit cooperation or pure commercial credit cooperation between farmers and cooperatives will produce "prisoner’s dilemma",but associated cooperation can improve the "prisoner’s dilemma",thus reducing the moral risk of farmers involved in credit cooperation business.In the static game of risk sharing of credit cooperation business,the risk preference and risk control ability of the participants determine the initial risk sharing scheme.However,in the dynamic game of shared-risk in credit cooperation business,the information advantage and negotiation cost of the participants directly affect the optimal risk-sharing ratio.The application of game theory in risk sharing is a new way to solve the problem of credit cooperation business in cooperative.