predictions from the tournament theory to the context of transition economies in which state ownership still plays a significant …The promotion tournament as a potentially important incentive mechanism for top management in transition economies has … to decide on the tournament winner). Using comprehensive financial and accounting data on China's listed firms from 1998 …

with three distinct theories: (i) human capital; (ii) rat race; and (iii) tournament. Third, guided by each theory, we go … are more beneficial for career advancement. Specifically we find: (i) for managers, working long hours will help them …