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.

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

Innovation Research on Collabora/ve Governance System of theAir Pollution 2 Beijing-Tianjin-Hebei from the Cost-effectiveness Perspective

论文以京津冀大气污染协同治理的成本构成为基础,分析阐述了由于跨区域协同治理的法律法规不完善,有关三地信息共享、利益补偿、监督管理等相关制度、机制不健全,加大了京津冀协同治理的交易成本,使协同治理的效率降低.为此,应加快完善京津冀协同治理的制度与机制创新,重点加强京津冀区域内生态补偿和排污权交易等经济激励机制建设,以实现京津冀协同治理的长效目标.

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.

Innovation of governance model of local government in China:Reflections on the issue of River Chief System in Guangdong-Hong Kong-Macao Greater Bay Area

Government-leading,multi-agent participation and coordinated co-governance are the original intentions of River Chief System governance policy design,the purpose is to really improve governance benefits of the River Chief System.Regrettably,the current research is still in its infancy,mainly based on theoretical analysis and case analysis.Whether government-leading,multi-agent participation and coordinated co-govemance can really improve the effectiveness of governance still lacks empirical testing.For this reason,based on the 241 questionnaires of the governance benefits of the River Chief System in Guangdong Province,this paper deeply analyzed the influence of the organizational level of the River Chief System on the governance benefits,and further studied the regulatory role of multi-agent participation.The results showed that there was an inverted“U”relationship between the organizational level of the River Chief System and the governance benefit,and multi-agent participation had no positive influence on the relationship between the organization level and the governance benefit.This paper has important enlightening significance for expanding the theory of River Chief System research and guiding the practice of government-leading governance policy of River Chief System.On the other hand,this paper can provide reasonable suggestions on environmental governance for Guangdong-Hong Kong-Macao Greater Bay Area’s high-quality development.

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.

Research on Innovation-Driven Expansion of Regional OFDI: New Evidence From a Business Environment Perspective

This paper investigates the impact of provincial innovation-driven efficiency on the expansion of regional Outward Foreign Direct Investment(OFDI)flows within the context of China’s economy during the period 2011 to 2020 by measuring the innovation-driven efficiency and business environment index using the DEA-Malmquist index and the combined CRITIC weighting method from the new perspective of business environment improvement.The findings reveal that:(a)There is an inverted U-shaped relationship between provincial innovation-driven efficiency and regional OFDI flows.This increase in innovation-driven efficiency can promote OFDI expansion of the region by improving its business environment.(b)The improvement of the business environments plays a significant intermediary and synergistic role in OFDI expansion driven by improved innovation efficiency.(c)The study of regional heterogeneity suggests that the central region enjoys the longest window period in terms of innovation-driven OFDI expansion,followed by the eastern region while the western region has the shortest window period.The improvement of the business environment in the western region is more effective in driving regional OFDI expansion.This conclusion remained true after the robustness test.In conclusion,this paper offers a few policy recommendations that can help Chinese capital of various kinds go global more effectively.

Research on Risk Identification and Industrial Governance of Digital Education Products Based on Data Annotation Technology

The social transformation brought aboutby digital technology is deeply impacting various industries.Digital education products, with core technologiessuch as 5G, AI, IoT (Internet of Things),etc., are continuously penetrating areas such as teaching,management, and evaluation. Apps, miniprograms,and emerging large-scale models are providingexcellent knowledge performance and flexiblecross-media output. However, they also exposerisks such as content discrimination and algorithmcommercialization. This paper conducts anevidence-based analysis of digital education productrisks from four dimensions: “digital resourcesinformationdissemination-algorithm design-cognitiveassessment”. It breaks through corresponding identificationtechnologies and, relying on the diverse characteristicsof governance systems, explores governancestrategies for digital education products from the threedomains of “regulators-developers-users”.

Improving innovation and entrepreneurship education in higher institutions: the impact of "Mass Entrepreneurship and Innovation" education on undergraduates' entrepreneurial intentions

The exploration of the way"mass entrepreneurship and innovation"(MEI)education influences students'aspirations to become entrepreneurs has grown into an important area of analysis in studies related to higher education.This research intends to examine the consequences of MEI education on students'tendency towards entrepreneurship,and to put forward methods for augmenting the teaching of innovation and entrepreneurship in private higher educational establishments.To achieve this objective,questionnaires and semi-structured interviews were employed in the study,which involved a total of 197 students and five education experts.The statistical analysis of the questionnaire data revealed that MEI education was positively related to students'entrepreneurial intentions,and that both entrepreneurial experience and family entrepreneurial background played moderating roles in this relationship.The interview findings indicated that private universities could enhance educational reforms by designing talent training programs,developing diversified curricula,and developing more professional entrepreneurial platforms to encourage students'entrepreneurial intentions.This study offers fresh insights for improving and perfecting the mechanism of innovation and entrepreneurship education in private universities.