Start your brilliant career with a degree from Australia's #1 ranked university.


Find contact details for any general enquiries.

Engage with us

Find contact details for any general enquiries.

Study with us

Our graduates gain the knowledge and skills to lead organisations, develop public policy, create new companies and undertake research.

Our research

Our research is focused on issues that are highly significant for organisations, the Australian economy, and society at large.

Current Students

Whether you're a new or continuing student, you can find everything you need here about managing your program and the opportunities available to you.


Our alumni may be found in the world’s leading companies, policy agencies and universities.

Contact us

Find contact details for any general enquiries.

RSFAS Seminar | Prof Qian | State capitalism

RSFAS Seminar | Prof Qian | State capitalism

Prefecture Tournament Incentives in State Capitalism

Available to CBE staff only.

We empirically examine the prefecture tournament incentives for CEOs in state-owned-enterprises (SOEs), as measured by the compensation gap between the CEO of the firm and the highest paid CEO among all SOEs within the same state administrative prefecture. Consistent with the notion that managerial inefficiency is prevalent in the state capitalism, we find that prefecture tournament incentives move the management towards the efficient frontier: firm performance is positively associated with the pay gap but firm risk is negatively so. This effect is stronger for CEOs at younger ages or in later part of tenures, indicating higher mobility.

Updated:   30 April 2020 / Responsible Officer:  CBE Communications and Outreach / Page Contact:  College Web Team