随着城市化进程加速,从原农村集体经济脱胎而出的股份合作公司,产生出越来越多的矛盾和问题。摸着石头过河,走出一条新路,宝安区的先行先试暴露出股份合作公司转型过程中的诸多制度困境。本文以深圳市宝安区社区股份合作公司为具体研究对象,分析其发展困境,揭示视为制度安排的股份合作公司的发展与政府政策环境的变化之间的关系,力图就制度转型的前景作一些前瞻性的思考。 With the acceleration of urbanization, more and more contradictions and problems have arisen from the joint-stock cooperative companies that were born out of the original rural collective economy. Feeling the stones across the river, out of a new road, Baoan District, the first try to expose the process of joint-stock cooperative transformation of the many system dilemma. In this paper, Bao’an District, Shenzhen City Community Joint Stock Company as a specific object of study, analysis of its development dilemma, reveal the institutional arrangements as a joint-stock cooperative company’s development and changes in the environment of government policy environment, trying to make some of the prospects for the system transformation Forward thinking.