For pt.II see ibid., vol.19, p.2109 (1986). This paper is the third in a theoretical study of subradiance, i.e. the cooperative inhibition of spontaneous emission by a destructive interatomic interference, a phenomenon which has recently been observed. The paper is devoted to the problem of the cooperative spontaneous emission of atomic samples with linear dimensions much smaller than the wavelength of the emitted light. The treatment, which is based on a fully quantum mechanical description of the problem, corroborates the results obtained in a semiclassical treatment by Friedberg and Hartmann (1974). Starting from a master equation describing both the cooperative spontaneous emission and the dipole-dipole interaction, a statistical treatment of the latter is introduced and the corresponding symmetry relaxation is studied. The evolution of the atoms is described in three typical cases that correspond to different sample geometries and/or atomic distributions. In one of these cases, in particular, the symmetry is first conserved and the atoms follow Dicke's predictions for a time. A 'retarded' symmetry breaking then occurs suddenly, near the zero value of the collective energy, as in Friedberg and Hartmann's calculations for a small sphere. With regard to the further evolution of the atoms in this case, which cannot be studied in a semiclassical model, it is shown that the decay rate quickly becomes much smaller than the incoherent decay rate. An unquestionable subradiance phenomenon is thus predicted in this case.