建立对经营者的激励与约束机制，是股份合作制企业规范运行的重要保证。

It is one of the important factors for the operation of joint-stock enterprises to establish the mechanism of inspiration and restraint on the top of following the general rules of modern enterprises.

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杭州新兴包装机械有限公司是一家集开发、生产、销售为一体的股份合作制企业。

Hangzhou Xinxing packing Machine co., Ltd. is a joint-stock company combined products development, production, sales together.

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在制度的需求和供给框架下，论文分析了股份合作制企业作为一种制度得以确立的可行性。

Then under the frame of institution demand and supply, the feasibility that share-holding cooperative system firms are constructed is discussed.

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