Research On The Incentive-compatible Legal Mechanism In The Shareholding Reform Of Rural Credit Cooperatives In China

After more than ten years of deepening reform,China's rural credit cooperatives have achieved remarkable results,basically forming the operation system of rural commercial banks with shareholding reform as the main mode.In the practice of reform,the rural credit cooperatives after reform are faced with the problem of target selection,which is to pursue the commercial development of profit,or to adhere to the policy goal of serving agriculture,countryside and farmers,or to organically integrate and coordinate the profit goal with the goal of serving agriculture,countryside and farmers.The government and academia attach great importance to this and actively explore the solution mechanism.Because of the historical attributes of rural credit cooperatives,the particularity of "agriculture,countryside and farmers",policy requirements and the needs of commercial development after the reform,the reformed rural credit cooperatives should not be guided by a single goal.The relationship between policy objectives and commercial objectives is not one of two choices,but the need for mutually beneficial coexistence and the coordinated development of dual objectives.However,constrained by the imperfect legal system,especially the lack of dual target integration mechanism,there are often conflicts between policy objectives and commercial objectives in the practice of reform.In order to meet the dual goal compatibility development demand of rural credit cooperatives' joint-stock system reform,it is necessary to moderately restrict profitability and develop service.It is necessary to establish a set of integration mechanism.To maximize the effectiveness of the mechanism,on the one hand,we need scientific theory as the basis,on the other hand,we need legal system to provide protection.Therefore,it is necessary to introduce incentive compatibility theory to construct a dual goal compatible legal mechanism in the reform of rural credit cooperatives' shareholding system,combining with the existing mechanism design of empirical abstraction.Based on the above ideas,the article is divided into five parts:The first part is the introduction,which takes the situation of rural credit cooperatives' joint-stock system reform as the starting point,puts forward how to solve the problems existing in the joint-stock system reform of rural credit cooperatives,determines the object of study and theoretical framework of the article,and thus combs the current research situation of rural credit cooperatives' joint-stock system reform mode,reform objectives,existing legal problems and incentive compatibility mechanism theory.Literature review laid the foundation for the study of the article.The second part is a brief description of the reform process of rural credit cooperatives in China.Through the analysis of the reform process,the reform model and the reform motivation,we can get the dual objectives of the reform,which is the basis of the article.The third part is about the legal problems that lead to the conflict of dual objectives in the joint-stock system reform of rural credit cooperatives in China,mainly from the imperfect corporate governance mechanism,the imperfect regulatory system and the imperfect legal guarantee of serving "agriculture,countryside and farmers".The fourth part is the practice and expression of incentive compatibility mechanism in the joint-stock reform of rural credit cooperatives in China.Firstly,the theory of incentive compatibility mechanism is discussed;secondly,the design principles of incentive compatibility legal system in the reform are discussed;and thirdly,how the incentive compatibility mechanism is realized in the reform of J Agricultural and Commercial Bank is analyzed with the example of J Agricultural and Commercial Behavior.The fifth part is the optimization of incentive compatible legal mechanism in the joint-stock reform of rural credit cooperatives in China.As the last part of the article,through the analysis of the previous part,the legal system of legal person governance mechanism is perfected,the operation and supervision rules of rural commercial banks are perfected,the legal system of "serving agriculture,countryside and farmers" is constructed,and the operation and guarantee mechanism of rural financial legal system is perfected.The innovation of this article is that,unlike most of the research methods on rural credit reform,it takes the dual objectives of rural credit cooperatives' shareholding reform as the breakthrough point,analyses the conflict and compatibility between them,finds out the legal problems that lead to the incompatibility of dual objectives,and introduces incentive compatibility mechanism.Taking J Rural Credit Cooperatives as an example,this paper demonstrates the feasibility of incentive compatibility mechanism in the reform through empirical analysis.By combining economic theory with legal theory,this paper establishes an analytical framework.Based on the idea of combining theoretical basis with empirical analysis,this paper puts forward an optimized scheme for establishing incentive compatibility legal mechanism in the reform of rural credit cooperatives.