Financial innovation and its governance:Cases of two major innovations in the financial sector

The power of financial innovations to affect societies on global and intergenerational levels compels us to ask how we can ensure their responsible emergence in society.This requires an understanding of how innovation occurs and how it is governed in practice.Despite this,there is little research on the process and governance of financial innovation.The few studies conducted in this area have focused on the‘backend’of the innovation process.Therefore,using data from secondary sources,this study investigates how two major financial innovations occurred and were governed,and it discusses the findings in relation to those in the literature.This approach revealed that innovation processes fall within a continuum ranging from structured to unstructured.Moreover,lead times are potentially longer for innovations that are significantly disruptive,new to the market,and technological in nature.Finally,innovation processes can involve multiple stakeholders who use both statutory regulation and self-regulation for innovation governance.This paper concludes that innovation processes and their governance can vary significantly according to different areas of the financial landscape and associated innovation contexts.Thus,there is a need for more empirical work to understand such variability and practices in the sector as a whole.

Global climate governance in the new era:Potential of business actors and technological innovation

The United Nations Framework Convention on Climate Change(UNFCCC)has established a climate governance mechanism with intergovernmental negotiations among sovereign states as the core.After nearly 30 years,progress in combating climate change has remained very modest compared with the numerous challenges raised.The global climate governance has entered a new era,such that incorporating other factors into the governance process is timely.Therefore,the study emphasizes technological innovation and business actors in climate governance after the Paris Agreement.Technological innovation can provide effective solutions for combating climate change and has been a crucial driving force in climate governance's evolution.Business actors are significant because they are actual implementers of technological innovation and can apply different types of power and influence on climate governance processes at various levels.In summary,business actors,as well as technological innovation in line with governments and the UNFCCC governance frameworks,create a new potential for climate governance in the new era.

Corporate innovation behavior and internal governance mechanism

Innovation is a process results in new products, methods of production and forms of business organization. Innovation can vastly improve the welfare of consumers, investors, firms and the economy. However, there is relatively limited evidence of how corporate governance affects corporate innovation. In this study, the author theoretically demonstrates how internal governance mechanisms interact to affect innovation, such as internal control, monitoring and compensation contracts. Governance mechanisms are determined by firm characteristics. The ＂best＂ governance structures that can be adopted universally do not exist. However, innovative firms often share similar characteristics, and they adopt similar governance mechanisms to facilitate innovation. The ultimate purpose of such internal governance mechanism that facilitates innovation is to prevent managers＇ myopia, and this paper concludes 5 different roles in internal governance mechanism that facilitate corporate innovation behavior.

Medical Tourism Market and Inter-Stakeholders’ Relations in Turkey: A Comparative Investigation From Reverse Innovation and Destination Governance Viewpoint

This study aims to analyze inter-stakeholders’interactions,destination governance,reverse innovation and the tasks of central government within the Turkish medical tourism market.The investigation’s objective is to shed light on scientists and practitioners regarding to what extent medical tourism is affected by stakeholders.Likewise,the originality of this investigation is that this study is the first attempt that links up reverse innovation and stakeholder approach as a holistic strategy and competitive advantage tool in medical tourism.The statistical evidences of Turkey also support the fact that the incline of medical tourism incomes and benefits is tightly bound on key inter-stakeholders’collaborations,marketing tools,specific strategies,effective governance mechanism and cooperation with civil society organizations.This study is a thematic case that comprises particular research fields and formulates advanced arguments that are embedded in enriched relevant literature review and the highlights of the 7th International Health Tourism Congress.

An Empirical Research About Corporate Governance on Enterprise Innovation

Enterprise innovation is the core driving force of national development.As the core of the modern enterprise system,corporate governance has a significant impact on enterprise innovation.Through particularizing the issue of corporate governance and then analyzing thoroughly about the interaction between the structure of corporate governance and the level of enterprise innovation by means of the method of empirical research,the article aims to ascertain the critical factors in the mode of corporate governance which have an impact on the level of enterprise innovation,thereby providing the relative references for the reform of corporate governance in China and promotion of enterprise innovation.

The Positive Role of Governance in the Way Environmental Policies Impact Technological Innovation

Against the backdrop of the knowledge economy, global economy is goingthrough a major transformation. How to alleviate the pressure of resources and the environ-ment and to achieve the sustainable development of the economy has become a global agenda.China＇ s economy growth has been rapid for decades since the reform and opening up policy,but this has also been a great drain on China＇ s resources and the environment, which is an ur-gent problem to tackle. In recently years, the Chinese government has launched many environ-mental policies in the hope of encouraging technological innovation to guarantee the sustain-able development of the economy. However, research suggested that technological innovationis negatively correlated with environmental policies in most scenarios. In some cases, the num-ber of technological innovation decreases after policies take effect and increases after a whilelike a U - curve. In order to solve this problem, I decided to analyze the panel data from 80provinces in China between 2008 and 2014 and conclude that local governance can implementenvironmental regulations while having a positive impact on the technological innovation inenterprises. In the conclusion, suggestions are given to local governments on how to better en-force environmental policies.

Big Data in Chinese Government Governance: Analysis of Decision-Making Model Innovation and Practice

The 19th National Congress of the Communist Party of China has put forward higher requirements for Chinese government governance. The government governance has developed to a higher stage. Meanwhile, it faces more challenges, like lack of top-level design and information sharing. To develop a government governance decision-making innovation model, we should make good use of big data to mine in the grassroots government data management network. Both the characteristics of the times and the experience of the practice have proven that big data can empower government governance and promote the construction of a service-oriented government.

Research on Corporate Right of Control: Mode of Arrangement and Innovation of Governance

The mode of arrangement and innovation of governance for corporate rights of control should be in accordance with the global resource disposition opportunities and efficiency competition. Based on rights formulated by acts and regulations, this paper establishes models of arrangement for corporate rights of control, and then analyses the composite basic features derived from the models. To conclude, a main frame for the arrangement and innovation of corporate rights of control is put forward based on the real practice of listed companies in China.

From social management to social governance: Evolution, characteristics and innovation

The Third Plenary Session of the 18th Central Committee of the CPC firstly required innovative social governance in 2013. This is the CPC's focus on safeguarding the fundamental interests of the majority of the people, to maximize social harmony, and to enhance the vitality of social development. The differences between governance and management are embodied in such as the governance system, legality, resource management, and comprehensive measures, etc. Compared with the way of social management, in which the government was used to controlling and ordering all social affairs, social governance pays more attention to the process of co-operations among different parties, to more emphasis on parties' co-operations and co-governance, with a continuous and interactive process of coordinated negotiations among multiple stakeholders. Social governance pays more emphasis on respect to social and political rights of members in the society, trying to stimulate the potential of social members, so that members of the community, in the process of social governance, have rights to speak, to choose and to influence; it pays more emphasis not only on maximizing autonomy of the social organizations and community, but also emphasizes the comprehensive use of a variety of means. The constructions of social governance system should mainly consist of four aspects: first, it is to improve the quality of social grassroots governance; second, it is to stimulate the vitality of social organizations; third, it tries to become an innovative and effective system to prevent and resolve social conflicts; fourth, it is to improve the public security system. To innovate the social management system, it is not only to achieve the transformation of the idea from control to service, but also to change the governance way from inflexible to flexible, thus, to finally form the social governance structure of Party leadership, government responsibility, social coordination,and public

Research on the Collaborative Innovation Model in Regional Social Governance

Reforms in social governance are promoted by changes in social environments.Social governance models cannot be constant,and the rise of every innovative governance model is inseparable from an ever-changing society.The theoretical connotation of the collaborative innovation model in regional social governance is mainly reflected in its agents,actions,and processes.The fundamental requirements of the collaborative innovation model in regional social governance are de-administration and market-based.The key elements of the collaborative regional social governance model include:delegating power from central authorities,transferring selected social governance affairs,enhancing the development of governance capabilities in social governance agents,diversifying these agents by giving full play to the agency to strengthen the concept of collaborative governance for social governance agents,strengthening the establishment of the governance system,and ensuring the normal progress of the governance processes.The collaborative innovation model in regional social governance should be built in three aspects:a system of institutional norms,an evaluation indicator system,and law-based collaborative governance.

The “Island Phenomenon” in Scientific and Technological Innovation and Its Governance Approach

General Secretary Xi Jinping has repeatedly stressed that we should eliminate the "island phenomenon" in technological innovation. The "island phenomenon" negatively affects the transfer and spread of technological achievements, resulting in inefficient technological innovation and transfer, and significantly impedes the implementation of innovation-driven development strategies. The emergence of the "island phenomenon" should be attributed to a failure to give full play to the "invisible hand" of the market and the overreach or absence of government's "visible hand." Local governments can play an important role in eliminating this phenomenon by leading and guiding efforts to enhance improvements in innovation technology and transfers.

Practice and Enlightenment of Community Governance Innovation in New Urbanization Process

New urbanization urgently calls for new ideas of community governance.First,this paper defines the important concepts,collates and summarizes the relevant theory. This paper takes Xindu district of Chengdu as an example,analyses the practice and enlightenment of community governance innovation,attempting to provide some insights into the community governance innovation in the new urbanization process.

Study on the Community Policing Administration Innovation from the Perspective of the Public Security Governance

Since the 20th century, human public security accidents occurred frequently, so that the developed countries such as the United States, Japan, and Russia took the lead in strengthening the study of the public security administration. Since the 21th century, all walks of life have paid more attention to the public security administration in China, along with the deepened implementation of the reform and opening-up policy and the rapid development of economic construction and the effects from the outbreak of the SARS crisis and the frequent occurrence of many coal mine security accidents, etc. In this process, the non-traditional security issues and man-made crisis are gradually becoming the main threats currently to the public security of China, because the conflicts of interest and the social contradictions overlap and the social crisis such as cadres-masses and police-masses conflicts is being aggravated. At present, the Ministry of Public Security of China is pushing forward a community policing reform and great numbers of community polices in community policing administration will directly confront with the challenges of the public security administration complexity, and therefore, the promotion of community policing urgently needs the innovation of administration concept.

Addressing inclusion,innovation,and sustainability challenges through the lens of economic geography:Introducing the hierarchical regional innovation system

The world is facing dramatic challenges related to environmental sustainability at an accelerating pace.In this context,the field of economic geography(EG)has been playing an important role in understanding both the socioeconomic and technological dimensions of these challenges,as it deals with a variety of complementary notions and perspectives.Departing from this lens,our aim is to explore a conceptual framework that can help us to understand environmental changes relating to multi-dimensional territorial development,notably in eco-nomic contexts where inequality is high,and stratification based on hierarchies regulate social and economic life.Based on the territory concept,we propose the original notion of a hierarchical regional innovation system(HRIS)that emphasises the pervasive role of hierarchies(powers)in regional innovation systems and illustrate its value with evidence and case studies from extant literature on sustainability transitions.The HRIS can help us understand and promote development paths considering the contribution of inclusive eco-innovations(another original conceptual amalgam).Through some empirical cases from other studies in low-carbon transitions,we show the application of the HRIS(and inclusive eco-innovation)framework.In conclusion,we provide incen-tives to explore new regional innovation systems,alongside the HRIS,adapted to different regions worldwide and centred on the inclusiveness of people and places.

China's Maritime Governance:Practical Evolution and Theoretical Construction

Increasingly engaged in maritime governance,China has developed its distinct vision and gradually established a complete theoretical system surrounding it.In terms of discourse,China has proposed a collection of concepts and ideas including a maritime community with a shared future,the 2lst Century Maritime Silk Road,Blue Partnerships,and marine ecological civilization.In terms of connotations,China champions such values as lasting peace,common prosperity,openness and inclusiveness,and cleanness and beautifulness.Exteriorly and interiorly,we can observe the unique character of China's vision concerning maritime governance,which will continue to upgrade and bear fruit in future practices,boosting the development of Chinese maritime governance theories,multilateral maritime cooperation,and ocean-related international legislation.Guided by its vision,China is expected to contribute more to global maritime security and marine ecological civilization.

Sustainable-Driven Business Model Innovation in Management

The concept of sustainability has evolved to become an engine of innovation in business models in numerous sectors.Businesses are increasingly aware of the need to incorporate sustainable practices to generate value over time while tackling environmental and social issues.This paper examines how companies use sustainability as a source of innovation in developing new market ventures and profit-increasing strategies.Based on case studies and analyses,the paper demonstrates how sustainable innovation struggling in businesses is evidenced in real-time and suggests principles and difficulties put positive changes in place.

Research on the Path of Improving the Efficiency of Urban Community Governance from the Perspective of Collaborative Governance:A Case Study of Daqing City,China

Under the background of“co-construction,co-governance,and sharing,”the role of the grassroots level is becoming increasingly important.In the past,the governance body was single with blocked information,and the inefficient governance mode required gradual transformation.In order to achieve collaborative governance and break through the obstacles in grassroots governance,the key lies in how to play the role of the community,coordinate the relationship between citizens and the community,and allow the community to better play the role of grassroots governance.Under the guidance of the concept of collaborative governance and combined with relevant data,this paper discusses the problems and current situation of community governance in Daqing City,China,explores the path to improve the efficiency of urban community governance,and puts forward relevant constructive suggestions to better realize the role of community in grassroots governance.

Learning from socially driven frugal innovation to design the future of healthcare:A case of mobile Primary Health Center

Background and Aim:Despite their flaws,the low-cost but powerful economical solutions can ensure everyone has access to health.The main aim of this study is to extract characteristics of frugal innovation(FI)and social innovation(SI)for Primary Health Centers(PHCs)in low resource settings(LRS)for sustainable development.We will use the gained insights to design the mobile primary healthcare infrastructure using FI and SI strategies.There is a lack of methodology to design sustainable healthcare infrastructure for LRS.There is a gap in the literature about building sustainable infrastructure to provide basic healthcare facilities essential to the community.This article studies several factors necessary for designing sustainable infrastructure from the lens of FI,SI,and sustainability to develop a mobile healthcare infrastructure for last-mile people.Methods:Started with purposive sampled case studies to find out factors and criteria that most affect the success for an innovation to be frugal,social,and sustainable.The established criteria were used to design,develop,and deploy the mobile Primary Health Center(mPHC).Moving forward,we tested the system designed with stakeholders to gather insights.At this stage we found the feedback loop from the stakeholders and the role of interdisciplinary discussions between experts,medical officers,nurses,patient,and other staff of PHCs during the design,development,deployment,and test stage to be useful in taking design decisions efficiently.Results:The designed healthcare infrastructure of mPHC through the aspects of FI and SI proves to be efficient in providing key healthcare services to LRS.Conclusion:Focusing on essential capabilities and optimizing performance with technology,methodologies,and processes reduces costs in an innovation.Focus on socially inclusive and rebalancing power disparities,overcome societal challenges and improve human capabilities will create a sustainable and novel solution.

Innovations in marine technology and potential needs for Arctic governance

The Arctic is a region of major significance in the Earth system,particularly important for global climate and international maritime governance.As human activity,relying on manufactured equipment,steadily increases in the Arctic,technological innovations for marine equipment must support the gradually more stringent requirements for future Arctic governance.In this review,four categories of innovations are analyzed,namely:innovations driven by traditional thinking,innovations for environmental protection,innovations for practical application,and innovations for observing information systems.Two examples of international regulations,the Polar Code(adopted in 2014)and the International Standard for Arctic offshore structures of the International Organization for Standardization(ISO 19906,first published in 2010),are selected to illustrate successful international cooperation efforts for Arctic marine innovation.This work provides a basis for discussion on technology development,governance efficiency,and international cooperation in the Arctic.

Smart specialization,public authorities,and innovation intermediaries in developing regions

Despite a growing body of literature on smart specialization,the role of public authorities and innovation intermediaries,particularly in developing regions,remains understudied.This research examines one of the first attempts to apply the smart specialization framework to the development of an innovation strategy outside Europe,specifically in the Pernambuco State,Brazil.We focus on two priority areas(clothing and high-tech automotive components)identified by the state government as key targets for pilot policy experimentation and use different methods,such as social network analysis and content analysis,to interview strategic innovation actors for studying the promotion of innovation and regional development in Pernambuco.Findings highlight how regional governance,collaboration,and trust are shaped by public authorities and innovation intermediaries.The study identifies three key challenges in implementing smart specialization strategy in developing regions:i.e.,achieving effective decentralization,cultivating an innovation culture,and establishing participatory governance mechanisms.The public sector actors act as crucial knowledge brokers and policy intermediaries,facilitating the linkages and partnerships necessary to overcome these challenges.