利润追逐:合作社盈余分配制度的选择动力

Profit Chasing: the Motivation to Select the Mechanism of Earning Distribution

从生产要素—产权结构—分配制度的分析框架出发,社员异质性的合作社会更有动力采用按股分红的盈余分配制度,体现了对资本的需求和青睐。但该框架及其结果并不能充分解释现实中合作社对分配制度多样化的偏好。本文以一个国家示范社为个案,从契约视角及成本收益分析出发,探寻该合作社分配制度转变的过程及其动力。根据结论,信息不对称导致的社员机会主义行为在合作社中普遍存在,通过治理优化来规避这一问题成为了合作社选择分配制度的重要动力,其背后对利润的追逐则是制度选择的内生逻辑。随着治理问题、利润点的改变,合作社的分配制度也处于不断演化之中,但在演化的背后其动力却是稳定不变的,那就是治理优化与利润追逐。

According to the framework of production factors-property rights structure-distribution system,the cooperatives with the diversity of members prefer to adopt the system of distribution of earning according to stock. But the reason why the farmer cooperatives in practice prefer the diversity of distribution mechanisms is not effectively explained based on the framework. The author takes an example of national model cooperative exploring the process of changing the distribution system of the cooperative and its motivation. According to the conclusion,opportunistic behaviors exist generally in cooperatives. Governance optimization has become an important motivation for cooperatives to select distribution mechanisms. Most importantly,chasing profit is the endogenous logic of institutional choice and stable power of the evolving mechanism of earning distribution.