Governance of Innovation

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Governance of Innovation and Intermediation in Triple Helix Interactions

Governance of Innovation and Intermediation in Triple Helix Interactions

(industry). The competitiveness and performance of firms however, is increasingly dependent on successful R&D collaboration and knowledge sharing with universities. The effective transfer of innovation outputs across public and private sector organisations is critical for governments, for university and for industry. Innovation at firm level is often associated with industry absorption and commercialisation of knowledge and technology generated by universities and other public sector research establishments. Technology is transferred through PhD graduates, through collaborative contract research, or licensing activities. The governance of innovation and KTT, hence, is a key component in economic development platforms, where the effective interactions between regulatory government bodies, the industry and universities are critical. These new trilateral relationships are characterized by complexity of interactions, interdependencies, and intensive flow of knowledge and resources between public and private actors.
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On the Governance of Innovation: Institutional Ownership vs. Stock Price

On the Governance of Innovation: Institutional Ownership vs. Stock Price

It is a common impression that institutional investors play a positive role in the governance of innovation in public traded companies. One reason, as Hall and Lerner (2009) suggest, is that institutional investors can better deal with the asymmetric information problems related to R&D. Also, Bushee (1998) shows that firms with more institutional ownership are less inclined to cut R&D following poor short-term earnings performance, suggesting that institutional investors tend to have long-term views on the firms they invest in. Aghion, Van Reenen, and Zingales (2013) further contrast two hypotheses—the lazy manager hypothesis in which managers prefer a quiet life and institutional investors’ monitoring forces them to innovate, and the career concern hypothesis in which managers dislike the risk in pursuing innovation and institutional investors provide incentives for managers to innovate by reassuring their job security if bad outcomes occur. Their evidence favors the latter hypothesis.
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The governance of innovation diffusion – a socio-technical analysis of energy policy

The governance of innovation diffusion – a socio-technical analysis of energy policy

This might reflect the increasing acceptance that truly sustainable governance of the system of energy provision requires learning, experimentation and iteration, both of the socio-ecological and the socio-technical system. By socially embedding technological diffusion processes, the sometimes fierce resistance that particular developments face from various stakeholders including actors that are not direct users of the technology can be considerably reduced. This resistance is associated with the societal transformation/ impact often associated with the technologies, conflicting visions about their consequences and desirable path to follow among different stakeholders. Purely technological projects that do not take this dimension into account therefore tend to fail due to inappropriate considerations of the societal diffusion side of innovations [30].
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Governance of Innovation in the Different Countries of the World

Governance of Innovation in the Different Countries of the World

According to World Economic Forum (2006), Japan is the member state of G-8 that is governing better the innovation, because it appears with the best classification at level of innovation, it is in 1 st position on World ranking, having the best ranking compared with 125 countries showed in this study for 2006-2007 (see annex – table 1).

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Voluntary measures, participation and fundamental rights in the governance of research and innovation

Voluntary measures, participation and fundamental rights in the governance of research and innovation

Under this perspective, participation is undoubtedly a crucial feature for giving RRI a dem- ocratic stance and therefore the credits to present itself as a governance approach pursuing the ‘tradition’ of participatory approaches to the democratic governance of innovation (Pelle & Reber, 2015). Nevertheless, the participatory dimension does not suffice by itself to shape it according to its declared ambitions, which are those of putting in dialogue con- flicting interests, views and values, by granting socially-robust and acceptable decisions. The realisation of the ambitious political aims of RRI cannot be left to the virtue-responsi- bility dimension of RRI (Arnaldi, Gorgoni & Pariotti, 2018), as even practising all these virtues is no ultimate guarantee that good intentions, schooled by a sensitivity to vulnera- bility, shaped by quasi-parental care and tempered through responsive dialogue and po- litical deliberation, will not produce bad effects (Grinbaum & Groves, 2013, p. 134).
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State strategies of governance in biomedical innovation: aligning conceptual approaches for understanding 'Rising Powers' in the global context

State strategies of governance in biomedical innovation: aligning conceptual approaches for understanding 'Rising Powers' in the global context

This section now turns to consider the political econ- omy perspective as applied specifically to the substantive issue of the US position in the global bioeconomy, and the Rising Powers’ strategic response to this. The drive by some developing countries to establish a governance platform for a competitive entry into the global biome- dical economy collides with the reality of US hegemony in the model and practice of biomedical innovation. America ’ s powerful mix of federal, state and private funding for biomedical science resonates easily with its dominant model of how the governance of innovation in the biotechnology industry facilitates the movement from basic science to commercial product: a model that the US has propagated energetically on the global stage [25]. It assumes a strong and established infrastructure of scientific research supported by a clear market emphasis on the facilitation of a close engagement between academy and industry in order to provide ideo- logical and practical support for research applications [41,42]. The US state created a permissive patenting regime with the capacity to support and enhance its ambitions for a global biomedical industry [43]. As a result, university technology transfer offices in the US focus on helping their scientists to patent their findings, identify private investment opportunities and negotiate advantageous intellectual property agreements with their scientific partners in developing countries [44]. Such is the power of the US model of biotech innovation that it enables the US easily to sustain its position when mea- sured on all the primary indicators of innovation capa- city in this field: R and D investment, concentration of research, scientific workforce, experimental trials by SMEs, supporting IP laws, venture capital investment and potential healthcare market [1,25].
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Knowledge Governance for Open Innovation: Evidence from an EU R&D Collaboration

Knowledge Governance for Open Innovation: Evidence from an EU R&D Collaboration

Before analysing what the MOZART case has to tell us about the relationships outlined in our theory framework, it is worth noting that one of the most striking features of this case is the sheer complexity of governance and the overall scale of transaction costs involved. Given the uncertain benefits of the R&D collaboration advanced here, as well as the difficulties of appropriation for quasi-public goods, it seems reasonable to argue that MOZART could only have been developed with the institutional and financial support of the EU and its member states. The involvement of the EU is not only important in providing the necessary resources for complex governance structures, but is also a major contributor to their complexity as the vertical relationship between the EU and the programme creates additional needs for coordination, oversight and transparency. The resulting complexity of the governance structure for MOZART also brings into sharp relief the crucial role which new internet-based technologies played in absorbing complexity and reducing transaction costs to a feasible level (Child and McGrath 2001). As was noted in the case, and as we will explore in more detail below, the influence of IT on governance, indeed its role as a mode of governance alongside organizational form (Weick 1990), was not only a feature of the programme as a whole, but was also important in shaping the paths taken by different work packages within that programme.
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Institutionalising commitment and credit  Historical tests of a microeconomic theory of innovation, governance and growth

Institutionalising commitment and credit Historical tests of a microeconomic theory of innovation, governance and growth

It probably adds little worthwhile to say that the failure o f Roman civilisation to sustainably increase productivity caused its fall, because it was a failure o f all civilisations until that originating in what we now call m odem western Europe. The fall o f Roman civilization clearly had a whole range o f interconnected causes. One was increasing monetary problems largely a result o f the dependence on coin for economic exchange, though the first steps towards managing the money supply were taken, with the manipulation o f the coinage from the third century. In the short term, this appears to have contributed significandy to the demise o f banking as a profession. Another enduring innovation was the introduction o f the national budget by Diocletion. Nevertheless, the last western emperor died in 476 AD, although Roman traditions were continued, and in the legal field at least continued to develop, in the East under Byzantine rule. In the west, political rule fragmented, and social institutions took on a wide variety o f less sophisticated forms. Nevertheless, once political stability started to return, cumulative developments started to take place again, combining elements o f the ancient heritage with a whole range o f novelties. It is to this potent mix that we now turn.
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Comparison of innovation policies in selected European, Asian and Pacific Rim countries: how best to optimise innovation governance in New Zealand?

Comparison of innovation policies in selected European, Asian and Pacific Rim countries: how best to optimise innovation governance in New Zealand?

This is a large council, comprising mainly representational Membership. The Australian Government’s 2008–09 Science and Innovation Budget Tables show budgeted Commonwealth expenditure on science and innovation for the 2008–09 year as totalling $6.37 billion. Of this, $4.36 billion is to be spent through the Innovation, Industry Science and Research portfolio, while over $2 billion is to be spent by ten other portfolios, the largest being Health and Ageing ($625 million); Defence ($394 million); Resources, Energy and Tourism ($324 million); and Agriculture, Fisheries and Forestry ($259 million). Within the 11 portfolios there is a multiplicity of agencies that deliver innovation programs including the ARC, NHMRC, Rural Research and Development Corporations, DSTO, Innovation Australia and numerous agencies delivering a growing number of programs related to climate change. Following the 2007 election the new Government created a portfolio for innovation and research, thus, we hope, signalling an intention to bring some much needed coherency into government decision-making on these issues. Currently each portfolio pursues its research and innovation agenda largely independently. Budget bids, funding allocations and delivery mechanisms are all addressed largely within agency silos. Despite a significant financial contribution to research in the former government’s Backing Australia’s Ability packages, they did not include effective institutional mechanisms to support a coherent whole-of- government approach. Mechanisms such as national research priorities were introduced but achieved only limited impact in ensuring coherence across the national government research effort.
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Innovation, Governance and Competition

Innovation, Governance and Competition

4.1. Governance Data. GIM’s ‘G-Index’ is possibly the most widely used broad based measure of corporate governance in the US. It is a proxy for the balance of power between shareholders and managers. It was created on the basis of how many restrictive governance provisions are imposed on shareholder rights; the more restrictive the governance, the weaker the shareholder rights. These anti-takeover provisions range from bylaws that restrict shareholder voting to whether companies are subject to state-level anti-takeover laws. Their primary data source is the In- vestor Responsibility Research Center (IRRC). The governance index is constructed by adding one point for every provision(out of a total of 24) that restricts share- holder rights and correspondingly increases managerial power; thus, the higher the score, the weaker the shareholder rights.The firms with weak shareholder rights (or higher G-index)are more likely to experience a wider divergence of ownership and control.Additionally, such firms are also more likely to have high agency costs and hence, poor corporate governance. Since the IRRC does not publish volumes for every year, Aghion et al. (2013b) dataset does not include G-index values for years where the IRRC data was missing. We fill the missing years assuming that the governance provisions reported in any given year were also in place in two years preceding the volume’s publication. This procedure is consistent with all the major studies involving the G-index(e.g., Fishman et al. (2014).
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Product market competition, corporate governance and innovation: evidence on US listed firms

Product market competition, corporate governance and innovation: evidence on US listed firms

Aghion et al (1999 and 2002b) examine the ways in which innovation efforts can be affected by the interaction between product-market competition and corporate governance – paying attention to their disciplining effects on managers. According to Aghion et al (1999) managers face conflicting incentives with respect to innovation. On the one hand, they are prone to minimise not only the direct cost of innovation but also the adjustment cost associated with implementation of the new technology. On the other hand, they are motivated to innovate as a means of reducing the risk of bankruptcy. On balance – and irrespective of the kind of corporate governance rules and/or debt pressure they face – increased product-market competition leads managers to undertake higher levels of innovations. However, if corporate governance rules and/or debt pressure are already strict enough to reduce managerial slack and thereby induce innovation, product-market innovation becomes less significant as a driver of innovation. In this analysis, corporate governance (or financial discipline) AND product-market competition are substitutes rather than complements.
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Financial innovation and its governance: Cases of two major innovations in the financial sector

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

In terms of governance, Cox (2008) describes a four-stage cyclical system of issue identification, self-regulation, failure, and legislation. He explains that the process of governing financial activity normally begins when an industry perceives a problem. To address that problem, actors in the industry implement voluntary standards that all are willing to accept. This approach usually works fine until something goes wrong in the financial system, which then triggers legislation since the legislature typically views this as the only solution. Stout (2011), meanwhile, uses the case of credit default swaps to argue that the financial innovation governance process begins with a common-law approach, followed by a modern approach involving codification and de-codification. At the common-law level, laymen and lawmakers use common sense to anticipate the benefits and possible risks of financial innovations, and decisions about which innova- tions to promote are made on that basis. While this approach does not prohibit financial innovations considered risky, it discourages their emergence by making them unenforceable by law, which leads to the emergence of self-regulatory mechanisms. Over time, common-law courts recognise the legality of such private enforcement activities and introduce legislation to prohibit them. However, this faces resistance from stakeholders, thus leading to a reversal of the old common-law rule. This process of codification and de-codification usually involves introducing transaction costs and establishing a discretionary authority with power over financial instruments and firms as a means to discourage risky innovations (Pradier, 2011).
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Knowledge Economy, Global Innovation Indices, Rents and Governance in Arab Economies

Knowledge Economy, Global Innovation Indices, Rents and Governance in Arab Economies

This paper sheds light on the relationship between knowledge, innovation, rents from natural resources and governance in world economies with focus on Arab countries. Two major analytical frameworks are used with the first based on the use of knowledge indicators while the second is on the Global Innovation index (2010-2016). Both models confirm the negative effects of rents and the positive roles of good governance, on knowledge and innovation. Arab countries appear to exhibit clearly these effects with higher emphasis on governance indicators. Also, Arab countries appear to exhibit a model that is statistically different from the one of all countries. This work complements that of Driouchi (2014a and 2014b) with the inclusion of the Global Innovation Index data 2010-2016.
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Reflections on different governance styles in regulating science: a contribution to ‘Responsible Research and Innovation’

Reflections on different governance styles in regulating science: a contribution to ‘Responsible Research and Innovation’

Secondly, acknowledging complexity means that governance should be less about defining clear-cut solutions and more about making explicit the political issues that are at stake in science and technology. In this sense, governance becomes a process in which the political nature of science and technology is made explicit, where concerned actors express that there is de facto not one, single answer. ‘Doing governance’ implies the space for making explicit what is moving all the different (kinds of ) stakeholders on issues of science and technology. This means focusing less on ‘ decision-making ’ and more on identifying the shared values and interests we have in the issues on the table; a focus on collaboration and dialogue, and on empowering participants (first and fore- most the researchers and research communities involved) relates to the aims of Callon et al. (2009). In their book Acting in an Uncertain World, they claim that technology development is to be regarded as neither rational and inherently historical nor completely dependent of external factors such as price, but rather as guided by socio-cultural, eco- nomic and political factors. Governance of science and technology takes too little account that formal and explicit programmes often fail to proactively steer scientific progress and technology innovation. To this aim, a continuous evaluation of objectives, actors and results is necessary. Their need of a less technocratic governance of science and technol- ogy follows from their analysis of traditional governance styles as flawed. The aim is non- policy oriented dialogue, which aims primarily to contribute to deliberation and learning among participants, i.e. publics as well as scientists. In other words, governance is consid- ered here as a learning process, less directed to direct intervention and ‘decision-making’ , and more towards experimentation. Callon et al. advance the alternative notion of ‘mea- sured action’ or measured decision-making, where “you do not decide [an outcome], you take measures ” that are based on inclusive processes that involve both experts and the public, but that ultimately remain open-ended so as to incorporate new knowledge, discoveries, and claims. Such mutual learning is proposed by a plethora of other experts in the field, specifically in Dutch discourse on science policy, including Swierstra’s concept of NEST ethics (Swierstra & Rip 2007), Governance here stops being a means of imple- menting policy but is instead a process that needs to be collectively done.
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Big Data in Chinese Government Governance: Analysis of Decision Making Model  Innovation and Practice

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

DOI: 10.4236/jcc.2018.612013 140 Journal of Computer and Communications Management in Beijing Dongcheng District is an example of application framework of big data government governance. Since 2006, Dongcheng District has applied the data analysis capabilities of the Big Data Framework to rapidly improve community public health service capabilities. It uses data sharing and publicity to promote the favorable mutual interaction between community resi- dents and community health service institutions and general practitioners, to achieve self-scientific management of the health status of community residents. Through the correlation analysis of the chronic disease impact factors of resi- dents in the district, it provides regional disease early warning services, and promotes the innovation of grassroots public service models. The big data car- ried by this system, covering about 1 million personal medical files of 38 com- munity health service centers and more than 2.2 million electronic medical records, updated at a rate of more than 3000 records per day.
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Participative Governance : An Integrated Approach to Organisational Improvement and Innovation in Ireland’s Health Care System

Participative Governance : An Integrated Approach to Organisational Improvement and Innovation in Ireland’s Health Care System

corporate-level commitment to the improvement of patient care and safety through the systematic introduction of multidisciplinary teamworking, although the quality of teamworking varies considerably. In some areas front-line nurses are excluded from meetings. Some teams are not meeting at all and staff report the accumulation of a long list of agenda items, leading to considerable frustration. These were also the units in the hospital that had notable problems with staff morale and voluntary staff turnover. Moreover, the role of most team meetings is limited to case- related issues and does not cover service planning, governance or quality improvement: this is clearly a missed opportunity for staff involvement (and some hospitals are preparing detailed directives or guidance to enable managers to make the most of team meetings). This reinforces research evidence that points to the need for the continual monitoring and renewal of teamworking to prevent “innovation decay” (Buchanan, Fitzgerald and Ketley, 2006); such a role could well be assumed by an active Partnership Committee where it existed, although that condition was not present in this particular hospital. This case illustrates both the strengths and weaknesses of a regulatory-driven approach. Teamworking was introduced systematically across the whole organisation as a result of an external investigation and recommendations, but the local innovation required to ensure its quality was not adequately supported on the ground.
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THE WHITE BOOK OF... Managing Hybrid IT. The definitive guide to maximizing the cloud, enabling innovation and redefining governance

THE WHITE BOOK OF... Managing Hybrid IT. The definitive guide to maximizing the cloud, enabling innovation and redefining governance

While individual business units can see the advantages of cloud systems and are often driving the adoption of new tools, it is usually the CIO who remains responsible to the board for IT issues, whether on security, compliance, or performance. To handle this, CIOs will need to reassess their positions. “Looking forward, I think the CIO has to ensure the organization creates an environment where the integration and interface of these loosely coupled business functions can be brought into a harness or a framework, to enable some form of central cloud governance,” says Scott Skellenger, CIO at RainTree Oncology Services. In particular, CIOs must concentrate on striking the right balance between fostering innovation and managing risk. Cameron McNaught, Executive Vice President for Emerging Technologies and Solutions at Fujitsu, argues that this involves repositioning, rather than entirely redefining, the role of the CIO. “Many CIOs are realizing they need to become the broker or the enabler of ICT, not a provider, and they are evolving towards that. They are becoming an internal advisor and framework provider, rather than the actual provider of the service,” he says.
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Mobile financial services at the base of the pyramid : 
a systemic view for cross sector governance and embedded innovation

Mobile financial services at the base of the pyramid : a systemic view for cross sector governance and embedded innovation

Using the BoP business system, we present a governance model for developing inclusiveness and cross-sector collaboration to integrate investments in PIs and CIs. In particular, we propose several strategies that private corporations can use to enhance collaborative interdependence between the two sectors. Variation in context may influence the prioritization and sequencing of these strategies. These strategies build a partnership mechanism that draws the strengths of each sector and provides insight for a business system that can facilitate stronger connections between profits and financial inclusion as a tool for poverty alleviation. Analysing data from e-Masary case pinpointed to online balanced scorecard, investment flexibility, embedded innovation and inclusive competitive advantage as key results. The online grid facilitates collecting relevant and real-time information about economic returns, social benefits and local impact. It also helps to reconcile the staff incentives with the socioeconomic measures of the overall project performance. The latter element sustains the employee engagement with the poor micro-entrepreneurs. Flexibility in fulfilling long term financial commitments and building an innovation value chain was also significant. For financial commitments during the design stage, donors may rely on building business intimacy with a larger set of enterprises and focus on sharing knowledge and resources. Then in later stages (long run) they may select a smaller number of partners who have access to more resources and willingness to provide greater financial support, extended interactions, and detailed technical assistance. The embedded business model needs trial and error, particularly in the design and deployment stages and also needs that long term financial and technical support to reduce the risk. We found that engaging the poor micro-entrepreneurs in the design and deployment stages reduces error and improve the sustainability. Our findings, then show a potential for overcoming the challenges of financing the BoP using mobile financial services.
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Two Essays in Corporate Finance: The Effects of Ownership and Governance on a Firm's Innovation and Capital Structure Decisions

Two Essays in Corporate Finance: The Effects of Ownership and Governance on a Firm's Innovation and Capital Structure Decisions

This table presents summary statistics for leverage, governance variables, and firm characteristics for nonfinancial, nonutility U.S. firm-year observations in our sample during 1996–2008. Leverage is total debt divided by the sum of total debt and market value of equity. Firm Size is the total assets. Market-to-Book is book liabilities plus market value of equity divided by book value of assets. Profitability is operating income before depreciation divided by total assets. Tangibility is property, plant, and equipment as a proportion of total assets. Dividend Payer equals 1 if dividend is paid in the fiscal year, and 0 otherwise. R&D Expenses is the R&D expenses divided by sales. R&D Indicator equals 1 if firm reports R&D expenses, and 0 otherwise. Depreciation is the amount of deprecation divided by total assets. Industry Leverage is the median market leverage ratio in each year for firms in the same two-digit SIC industry. CEO-Chairman Separation equals 1 if the CEO is not the chairperson of the board, and 0 otherwise. Holdings is the number of institutional investor-held shares divided by total number of shares outstanding. Outside Directors is the number of outside directors divided by total number of directors on a board. Managerial Delta is the sensitivity of the total value of stock and option holding of top five executives to a change in the stock price. Panel B provides the summary statistics for the companies who issues leverage-increasing exchange offers.
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Governance Structure, Perception, and Innovation in Credence Food Transactions: The Role of Food Community Networks

Governance Structure, Perception, and Innovation in Credence Food Transactions: The Role of Food Community Networks

In this paper we discussed an emerging type of governance structure in credence food transactions. We define it as a food community network. In this governance structure consumers and producers integrate their functions by using a combination of competition, cooperation and resource pooling. Example of emerging community networks could be observed especially in the domain of consumer-farmer interactions. Moreover a community network could be developed between consumers and processors and/or distributors. The basic feature of a FCN, in fact, is the presence of a group of sellers and a group of buyers which are interested in directly participation in the production process and/or in the control of the credence food transaction because they consider the time allocate on these functions as leisure time. It implies that both suppliers and demanders are involved in the credence food production process, they also perceive leisure and feel committed. All these elements represents a component of their wellbeing. In this sense FCN could be used as a powerful tool both by policy-makers and private stakeholders (food processors, retailers, etc.) to address three short-run issues: (i) to promote traditional and local based productions (often called niche products) and to enforce the implementation of rural development strategies; (ii) to promote sustainable resource use and fairness in food trade (e.g. in fair trade mechanisms); (iii) to contribute to change food habits in western households and try to orient them much more on sustainable-oriented foods with a competitive price. In this perspective the implementation of a FCN can represent an interesting strategy also for private players in the food sector, for example to develop quality issues in their products. Of course it is also a challenging tool to use trust and transparency in marketing actions and to “accept” interactions in business decision-making.
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