This is the second edition, comprehensively revised, of a research study which has been widely recognized as the first comprehensive research into how co-operative businesses worldwide operate in terms of their governance. The report stands alone, to be read afresh. The research focused on sixty of the largest co-operatives across a range of sectors, an updated list that follows the outline of the annual World Co-operative Monitor. These include many of the great names of the international co-operative sector, such as: Zen-Noh from Japan, Fonterra from New Zealand, Migros from Switzerland, Mondragon from Spain, Unimed from Brazil, Credit Agricole from France, Rabobank from the Netherlands, Desjardins from Canada and State Farm from the USA. This material may be useful to cooperative leaders who aspire to improve their internal governance as one of important factors for their cooperative to achieve success.