Abstract: Based on data from fruit and vegetable cooperatives in Hubei Province, the capital structure theory was used to analyze the mechanism of the effects of cooperative natural capital,equity capital, human capital, social capital, and surplus distribution on the income of ordinary members,and a BP neural network model was constructed to test the impact factors of capital structure on the income of ordinary members. The results showed that the tilted capital structure of cooperatives led to the weakening of the rights and property rights of ordinary members and the solidification of capital structure of cooperatives, and the income increase effect on ordinary members was not strong. Finally, the policy suggestions of guiding farmers to participate in the distribution of production factors such as land, labor, and agricultural machinery in cooperatives, expanding the scope of cooperative investment, promoting the reform of equity based financial subsidies for cooperatives, and building a cooperative capital structure that balanced “big farmers” and “small farmers” for balancing the capital structure of cooperatives were put forward.

Key words: capital structure of cooperatives, farmers’ income, BP neural network, Hubei Province