Research On Influencing Factors Of Internal Equity Financing Intention Of Farmer Cooperative Members In Hanting District

Equity financing for farmer cooperatives is a product of the agricultural economy and equity financing.China has always attached great importance to the development of the agricultural problem,and in recent years the government has been promoting inclusive finance.Although the overall number of farmer cooperatives in China has been growing steadily,the overall strength of cooperatives is relatively weak and small,and the main reason for this situation is the difficulty in financing.There are two main ways of financing cooperation,one is exogenous financing and the other is internal financing.The main uses of cooperatives finance are as start-up capital at the beginning of the cooperatives and to expand the scale of operation at a later stage.With limited start-up capital,it is particularly important to obtain the necessary funds to expand the scale of operation at a lower cost.In practice,however,the average cooperatives member is not very motivated to raise finance.This study focuses on the factors influencing cooperative members’ willingness to participate in equity financing.Previous studies have mainly focused on the external financing of cooperatives,and few studies have analysed the internal financing of cooperatives from the perspective of members of farmers’ cooperatives.This study adopts a questionnaire survey method to conduct 287 valid questionnaires on 13 model cooperatives and 56non-model cooperatives in Hanting District.Using the theory of planned behaviour,the theory of preferential financing and the theory of social capital as theoretical perspectives,the study analyses whether cooperative members’ willingness to participate in equity financing is due to factors such as individual characteristics of cooperative members,cognitive level,behavioural attitudes,subjective norms and organisational characteristics of cooperation.The study explores whether the willingness of cooperative members to contribute to equity financing is influenced by individual characteristics,cognitive level,behavioural attitudes,subjective norms and organisational characteristics of cooperative members.The study found that individual characteristics,cognitive level,social capital and organisational characteristics of cooperatives all influence cooperative members’ willingness to raise equity.In order to better promote the development of cooperatives and attract cooperative members to equity financing,cooperatives can start to improve by urging members to improve their own quality,increase cooperative capital.This study provides reference for farmer cooperatives in other regions to solve their financing problems,and enriches the practice research on equity financing for farmers’ cooperative members.