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This paper examines the association between corporate governance and financial inclusion in terms of correlation. This paper examines whether countries that have a strong corporate governance environment also experience better financial inclusion outcomes.

The indicators of financial inclusion are automated teller machines (ATMs) per 100,000 adults, bank accounts per 1,000 adults and bank branches per 100,000 adults, while the indicators of corporate governance are extent of corporate transparency index, the extent of director liability index, the extent of disclosure index, the extent of ownership and control index, the extent of shareholder rights index, minority investors protection index and ease of shareholder suits index. The association was analyzed using Pearson correlation analysis and granger causality test.

Strong corporate governance is significantly associated or correlated with better financial inclusion outcomes. The regional analyses show that corporate governance has a significant positive association with financial inclusion in Asian countries and in Middle East countries. However, a positive and negative association was observed between some indicators of corporate governance and financial inclusion in European countries, North American countries, South American countries, African countries and in Middle East and North Africa (MENA) countries, implying that strong corporate governance has a positive and negative association with financial inclusion depending on the indicators of corporate governance and financial inclusion used. There is also evidence of uni-directional granger causality between corporate governance and financial inclusion.

Little is known about the association between corporate governance and financial inclusion. This paper is the first to examine this association.

This paper aims to analyze the ex ante and ex post economic efficiency of the preventive agreement (concordato preventivo) or composition with creditors as defined by the Italian Bankruptcy Law. This study examines four possible outcomes of the procedure: homologation (confirmation); the degree of dissent/consent of creditors; the revocation, admissibility or inadmissibility; the declaration of the company bankruptcy in preventive agreement.

This paper uses data from 728 Italian companies which filed for preventive agreement in 2016. In reference to each of the four possible outcomes, this study applies nine logit regressions to analyze the effects of a series of efficiency variables ex ante (corporate-based drivers) and ex post (procedure-based drivers).

Results show the relevance of the debt structure, ownership structure and virtuous behavior, corporate governance and management systems, as well as effectivity of the court control on the preventive agreement outcome.

This paper draws on original data of bankruptcy in Italy and gives empirical evidence of the ex ante and ex post factors on the outcomes of the preventive agreement.

Building on the literature of hybrids in the context of public organizations, this paper aims to discuss under which conditions hybrids can adequately provide “critical services”, a subset of public services characterized by their simultaneous exposure to externalities, socio-economic cohesion and legitimacy concerns.

The authors collect indications from two stylized examples, prisons and defense, to develop propositions as a step toward assessing the potential role of hybrids as alternatives to direct public provision or full privatization in the delivery of critical services.

This paper examines the conditions under which hybrid arrangements outperform the polar cases of public bureaus and full privatization in the delivery of a specific subset of public goods that the authors identify as “critical services”.

The authors suggest that there might be comparative advantages in relying on hybrid arrangements rather than the usual solutions of fully private or fully governmental provision. However, they also submit that these advantages are conditional to the capacity of hybrids to reconcile competing interests to achieve socio-economic cohesion, to combine capabilities dispersed among partners to benefit from positive externalities and to satisfy legitimacy concerns with respect to the role of government.

With the yearly increase of mileage and passenger volume in China's high-speed railway, the problems of traditional paper railway tickets have become increasingly prominent, including complexity of business handling process, low efficiency of ticket inspection and high cost of usage and management. This paper aims to make extensive references to successful experiences of electronic ticket applications both domestically and internationally. The research on key technologies and system implementation of railway electronic ticket with Chinese characteristics has been carried out.

Research in key technologies is conducted including synchronization technique in distributed heterogeneous database system, the grid-oriented passenger service record (PSR) data storage model, efficient access to massive PSR data under high concurrency condition, the linkage between face recognition service platforms and various terminals in large scenarios, and two-factor authentication of the e-ticket identification code based on the key and the user identity information. Focusing on the key technologies and architecture the of existing ticketing system, multiple service resources are expanded and developed such as electronic ticket clusters, PSR clusters, face recognition clusters and electronic ticket identification code clusters.

The proportion of paper ticket printed has dropped to 20%, saving more than 2 billion tickets annually since the launch of the application of E-ticketing nationwide. The average time for passengers to pass through the automatic ticket gates has decreased from 3 seconds to 1.3 seconds, significantly improving the efficiency of passenger transport organization. Meanwhile, problems of paper ticket counterfeiting, reselling and loss have been generally eliminated.

E-ticketing has laid a technical foundation for the further development of railway passenger transport services in the direction of digitalization and intelligence.

This research aimed to conceptualize organizations as open and purposeful systems to study how organizational culture (OC) influences firms' Innovative Performance (IP). The authors proposed goal setting and internal integration/external adaptation paradox as central to explaining OC's mediating and suppressing effects on IP.

The authors collected data from 372 Costa Rican organizations and analyzed them with structural equations. This research used the Denison Model instead of the usual typology-based approaches.

The mission had a direct and high impact on IP. The mediated effect via adaptability was also elevated, as well as the suppressor effect through consistency. There was no effect on IP of involvement. According to these results, the Open and Rational Systems Framework emerge as the main theoretical explanatory concepts.

Disaggregating the OC through a performance-oriented dimensional model makes it possible to study the dynamics between the elements that compound it and facilitate integrating these findings with other research streams.