This study is focused on the research of stockholder cooperation which has not widely developed in the research of local festivals. In order to get success from local festivals, target expectation of stockholders and cooperation between stockholders should be harmonized. Thus, local festivals will have a major impact on the regional growth as sustainable local festival. Hence, this study should be examined local festivals in terms of the economic, social, and cultural influence on stockholders' cooperation as well as on the influence in tourism. This study is to contribute to establishing the cooperation system between stockholders for the success of local festivals and development through stockholders' cooperation. Finally is summarized the output of this study, is discussed the limits of this empirical analysis, and a discussion of those subjects related to this study which are in need of continued resea