| The dissertation has two parts. One is theoretical analysis and the other is empirical analysis of cooperative organization.The first part is theoretical analysis of cooperative organization.Chapter 1 explains the basis of cooperative organization through repeated game theory. Repeated game theory shows when the game is repeated, which means the times of game is unlimited, cooperative outcome can be achieved among the players in the game.Chapter 2 discusses the importance of supervision of cooperative organization. On account of its difficulty of supervision, cooperative organization may be especially appropriate in realms of endeavor where more shirking is desired and where redirected uses of the enterprise in response to market-revealed values are less desired.Chapter 3 mainly focuses on the contradiction between equity and efficiency in cooperative organization. According to Holmstrom, it is necessary to soften budget balance, which is regarded as the symbol of equity of cooperative organization, in order to keep the efficiency of cooperative organization. Macleod, however, believes that the efficiency of cooperative organization can be maintained when there is a high exit cost for the members of the cooperative organization.Chapter 4 expounds the relationship between exit right and cooperative equilibrium of cooperative organization. Macleod believes that high exit cost is crucial to the equilibrium of cooperative, while Lin insists that deprival of exit right is the main reason of the failure of Chinese Farm Cooperatives. Dong and Dow's theoretical reseach further affirms Macleod's conclusion. Finally, Putterman and Skillman put forward a comprehensive understanding of the relationship between exit right and equilibrium of cooperative organization.The second part of the paper is empirical analysis of cooperative organization. This part mainly focuses on credit union, which is an important kind of cooperative organizations in the world, and especially on the Rural Credit Cooperatives (RCCs)in China.Chapter 5 retrospect's the history of Credit Union so that some important preconditions can be found to keep Credit Union to run efficiently.It is Robert Owen's New Harmony Cooperative that advanced the movement of cooperative throughout the world. The backgrounds of Rochdale Equitable Pioneers Society, Friedrich Wilhelm Raiffeisen credit union, and Hermann Schulze-Delitzsch credit union are similar. That is to say, when the members are at inferior positions, it is easy for them to join a cooperative organization to deal with all kinds of bad environments.The development history of many credit cooperatives in China, such as credit cooperatives originated by Huayang Aid and Rescue Association of China, set up by Shumin Liang, promoted by Yangchu Yan, and so on, suggests that it is of great significance to keep the principles of voluntary, autonomy, independence, democratic in cooperative organization. On the other hand, the history of credit cooperatives also suggests that it is absolutely necessary for cooperative organization to be promoted by outer forces in order to speed up its development. It is the participation of many people with good reputation that make cooperative organization develop quickly.As far as the RCCs are concerned, on account of the government's fierce control, there is great uncertainty for their development. When the government softens its control on the RCCs, they would be in good condition. On the contrary, when the government controls the RCCs forcefully, they would be in bad condition. Therefore, the independence of credit cooperatives is very important. Chapter 6 reviews the principles of cooperative, which are the concrete institution arrangement of cooperative organization and the outcome of practice of credit cooperatives.Rochdale Principles include some important cooperative principles, such as equity, mutual help, non-profit, and so on. Cooperative principles of International Cooperative Alliance reflect the spirit of...
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