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Institutional Innovation: Risks and Options
CHEN Zhong, REN Xu-gang
Teaching and Research
2005, (7):
30-33.
On the one hand, institutional innovation is meant to cope with, avoid, and eliminate risks. Thus, risks can provide important motives for innovation. On the other hand, institutional innovation can be risky, and it may lead to more extended and more serious risks. In this sense, the relationship between institutional innovation and risks should be dialectic and interactive, with development as the ultimate goal. The baseline of institutional innovation is survival, and the basic principles for institutional innovation are to ensure existence and sustainable competence as a whole.
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