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.

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.

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.

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.

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.

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.

A Discussion on Models of Co-action and Innovation of Government and Enterprises in Agricultural Industrialization——Taking Shandong Fengyu Edible Fungus Co.,Ltd as an Example

The development of agricultural industrialization is an effective way of optimizing rural industrial structure and increasing peasants＇ income. Taking Shandong Fengyu Edible Fungus Co.,Ltd as an example, the paper discusses the development and innovation of edible fungus industry in production models, management system and operational mechanism in Wucheng City. It is expected to be helpful for innovating the development of agricultural industrialization in China.

Current Situation and Mode of Talent Training in Marine Cultural Industry Based on Collaborative Innovation of Governments,Enterprises,Colleges,Scientific Institutions and Users

Based on the present situation of talent training in marine cultural industry,the collaborative innovation mechanism of governments,enterprises,colleges,scientific institutions and users was used to construct the mode of talent training in marine cultural industry. It is needed to give full play to the active roles of governments,enterprises,colleges,scientific institutions and users in the training of marine cultural talents,develop training mode of innovative scientific and technological talents,speed up the construction of collaborative innovation ability of marine cultural talents,and improve the efficiency of talent training.

Influence mechanism of government subsidy on the green transformation of coal company in China

The optimization of government subsidies to enhance the efficiency of coal companies’green transformation constitutes a critical component in the pursuit of global sustainability.We investigate the influence mechanism of government subsidies on the green transformation using data from the listed coal companies in China from 2007 to 2022.According to our findings and hypothesis testing,previous government subsidies did not have a significant direct impact on coal companies’green transformation.Nevertheless,government subsidies can help coal companies transition to greener practices by promoting innovative green initiatives.Furthermore,we confirmed an indirect route:that government subsidies enable the adoption of low-carbon initiatives,which in turn could facilitate the transition of coal companies towards green practices.In addition,we discovered that the coal company’s digitization will improve this indirect route.Thus,we propose increasing the effectiveness of government subsidies in facilitating coal companies’transition to green practices by focusing on technological advancements and enhancing company digitalization.

Evolution Characteristics of Government-Industry-University Cooperative Innovation Network of Electronic Information Industry in Liaoning Province, China

It is important to optimize the cooperative innovation network for the improvement of economic competence and innovative power. Based on the patent information services platform, we obtain invention patent data for the electronic information industry in Liaoning from 1985 to 2015. This paper analyzes the cooperative innovation network structure, its spatiotemporal evolution and the triple helix relationship of government-industry-university(GIU) by using the social network analysis method and the triple helix theory as well as UCINet, ArcGIS and NetDraw. The empirical results show that: 1) the number of the subjects of the electronic information industry GIU cooperative innovation network in Liaoning demonstrates a gradual increase from 1985 to 2015, with the same trend in concentration. In terms of its subject and its centrality, the universities have a higher position, and the industries have a lower position,while the status of the government is still unclear. 2) The cooperative innovation network presents a core-periphery structure, and the polarization effect of innovation subjects tends to be obvious. There is certain distance-decay regularity in the cooperative innovation network, and a strong geographical proximity to cooperative innovation. 3) The compactness shows a downward trend as a whole. In terms of the extent of participation, the industries are better than the government but worse than the universities. This means that the cooperative innovation network of GIU in the electronic information industry in Liaoning is in the initial stage of formation.

Choice between Ways of Talent Training in Marine Cultural Industry--Based on Collaborative Innovation of Governments, Enterprises, Colleges, Scientific Institutions and Users

Based on the present situation of talent training in marine cultural industry,the collaborative innovation mode of governments,enterprises,colleges,scientific institutions and users was used to study the ways of talent training in marine cultural industry.

Study on Talent Training Mechanisms of Marine Cultural Industry Based on Collaborative Innovation of Governments,Enterprises,Colleges,Scientific Institutions and Users

Based on the review of related concepts,the current situation and problems of talent training in marine cultural industry in China were analyzed,and talent training mechanisms of marine cultural industry based on collaborative innovation of governments,enterprises,colleges,scientific institutions and users were proposed to promote the transformation,upgrading and vigorous development of marine cultural industry,accelerate the spread of marine culture with Chinese characteristics,and build China into a maritime power.