Co-governance Based on Abilities and Relations
The institutional arrangement of farmer cooperatives in the coastal areas of east China is characterized by a distinct shareholding from the very beginning. After describing some basic facts of institutional arrangement of farmer cooperatives in Zhejiang, the paper puts forward a framework from perspectives such as institutions, norms, trust and commitment for studying the residual control rights of cooperatives. The authors not only point out that the governance structures of farmer cooperatives in the coastal areas of China are the co-governance structure based on the abilities and relations, but also analyze the unique roles of abilities and relations in constructing the governance structure of farmer cooperative in China.
MAKEING AMONG HETEROGENEOUS MEMBERS : A STUDY ON ECONOMIC EFFICIENCY UNDER THE CENTRALIZED STRUCTURE OF CHINESE FARMER PROFESSIONAL COOPERATIVES
Farmer cooperatives are playing an increasingly crucial role in the current reform of the agricultural sector in China. Two features of these organizations have stood out amidst the undergoing, rapid development. One is the highly concentrated decision-making structure, while the other being the high level of member heterogeneity in terms of production capacity and ownership portion. Current literature has few quantitative models for analyzing the effects of governance centralization and member heterogeneity on cooperative economic efficiency. This article focuses on evaluating the efficiency of decisions made under different voting structures when members are highly heterogeneous. We use a net income model for a two-stage investment decision. We find that members with a larger ownership in a Chinese cooperative tend to have better aligned interest with the organization and can make more efficient decisions relative to those with less ownership. When heterogeneity among members is high, a more centralized decision making structure can lead to higher economic efficiency. Additionally, because the optimal level of centralization is determined by the redistribution policy of cooperative profits and properties of member heterogeneity, different cooperatives would accordingly have different optimal degrees of centralization.
Melanocins A, B and C, new melanin synthesis inhibitors produced by Eupenicillium shearii. I. Taxonomy, fermentation, isolation and biological properties.
New melanin synthesis inhibitors, melanocins A, B and C, were isolated from the fermentation broth and mycelium extract of Eupenicillium shearii F80695. Melanocin A, an isocyanide compound, inhibited mushroom tyrosinase and melanin biosynthesis of B16 melanoma cells with IC50 value of 9.0 nM and MIC value of 0.9 microM, respectively. Melanocin A also inhibited growth of Streptomyces bikiniensis. While, the structurally very related but non-isocyanide compounds melanocins B and C did not show inhibitory activity in these assays. Melanocins A, B and C showed potent antioxidant activity with scavenging activity of DPPH radical and superoxide anion radical.