Lecture Probes Mechanisms o f Work and Pa y I n an y employmen t relationship , a n important concern of employers is how to motivat e employees , induc e performance, an d remunerat e them . Should employee s b e give n greate r discretion i n thei r wor k o r shoul d the y be closel y monitored ? Shoul d pa y b e input- o r performance-based? Ho w should performance be measured? These vexing question s o f incentiv e i n an employment relationship are some of the issues addressed by Prof. Liu Pak-wai i n his professorial inaugura l lecture . In hi s lectur e entitle d 'Incentive , Performance an d Pay', Prof . Li u trace d the historica l an d intellectual development o f th e theor y o f incentiv e and analysed different models includin g the principal-agen t model , model s of linear incentiv e schemes , an d models of rank order tournamen t and deferre d compensation . H e also discusse d th e empirica l predictions o f th e model s an d applied the theory of incentive to the academic setting . Prof. L i u complete d undergraduate studie s a t Princeton University and obtained his master' s an d Ph.D . degree s from Stanfor d University . Hi s areas of expertise include applied theory, theor y o f contracts, immigration, labou r economics , Chinese economy , an d Hon g Kon g economy. H e i s currently researc h director o f th e Hon g Kon g Centr e fo r Economic Research, director of the Hong Kong an d Asia-Pacifi c Economic s Research Programme , an d secretary - general o f th e Eas t Asia n Economi c Association. H e was recently appointe d by the Chief Executive of the HKSAR as a member of the Commission on Strategic Development an d the Chief Executive' s Commission o n Innovation and Technology. At the University, Prof. Li u has hel d th e office s o f professo r of economics sinc e 199 4 an d pro-vice - chancellor sinc e 1995 . The lectur e wa s delivere d o n 26t h March i n th e auditoriu m o f H o Ti m Building. More Support for China Career Development Award Programme T h e Chin a Career Development Award Programme wil l b e launche d agai n this summer following the success of the 1997 programme . Thanks to the generous support of the Hui Yeun g Shing Memorial Foundatio n and The Hongkong Ban k Foundation, mor e students will b e able to participate in the programme this year. Las t year, some 170 participant s wer e sponsored to take courses in contemporar y Chin a and t o experience th e workplace cultur e i n mainland cities . The programm e comprises a four-week training cours e i n the contemporary sociopolitical and economi c systems o f th e mainlan d for first-yea r students , an d a six-wee k internship scheme for final-year students wh i ch place s the m i n publi c organizations o r branch offices of Hon g Kong-based companies on the mainland. Prof. Arthur K.C. Li, vice-chancellor, receives a dummy cheque from the Hui Yeung Shing Memorial Foundation at a cheque- presentation ceremony on 19th March Dedication Ceremony of Guo Mao Hall S tudent Hostel 1 o f Shaw College was officially name d Gu o Ma o Hal l o n 21 St March in memory of the late Mr. Lee Guowei an d Mr. Le e Mou , founder s o f the Kowloo n Textil e Industr y Ltd. , fo r their lifelong dedication to industry, and in recognition of the Lee family's support to the University. The Lee Shilun famil y recently donate d HK$1 0 millio n an d a unit i n a factory buildin g t o Sha w College. Officiating a t the naming ceremon y were Mr. Lee Fei of the Lee Shilun family, Prof. Arthur K.C . Li , vice-chancello r o f the University, Prof. Ma Lin, chair of the Board of Trustees of Shaw College, and Prof. Yeun g Yue-man , hea d o f Sha w College. The ceremony was attended by members o f the Lee famil y an d staff o f the University. On th e occasion , Prof . Arthu r Li expressed hi s gratitud e t o Mr . Le e an d his famil y a s well a s many member s o f the communit y fo r thei r suppor t t o th e University ove r th e years , whic h ha s made i t possibl e fo r th e Universit y an d its constituen t college s t o f u l f i l thei r educational mission. He pointed out that The Chinese University i s the onl y loca l university with a collegiate system, which has enabled its students to be looked after in a mos t uniqu e an d comprehensiv e manner. Or i g i na l ly fro m Wux i , Jiangs u Province, the Lee family was engaged i n various industrie s o n th e mainland , including textiles , flour , paper , an d machinery. In 1947, they set up Kowloon Textile Industr y Ltd . i n Hon g Kong , which became a major textile mill i n the territory. I t ceased operation i n 1997 . I n its 50 years of operation, Kowloon Textile Industry Ltd . witnesse d the rise and fal l of the textile industr y i n Hong Kong . Eye on Bird Flu 'Bird flu',or the avian influenz a virus H5N1 , wa s th e subjec t of a telemedical conference organized by th e Facult y o f Medicin e o n 31s t March at the Prince of Wales Hospital. The teleconferenc e linke d u p experts from th e Centr e fo r Diseas e Control and Prevention in the US, the Wo r ld Healt h Organization , SmithKline Beecha m Biologica l Services i n Belgium, the Hong Kon g Government's Departmen t of Health, the Hospital Authority, and the Faculty o f Medicine . The y discusse d th e outbreak o f the virus i n Hong Kong which led to 1 8 infected cases and six deaths , its global implications, and possible control measures in case of a world-wide pandemic . Experts from different venues are linked up at the teleconference Funding f o r Publication s and Research Pro j ec ts F our researc h an d publication project s recentl y attracte d grant s fro m variou s sources: • Novel Fast Response Polymers and Their Biomedical Applications Sponsor. Industria l Suppor t Fun d Amount awarded: HK $ 1,980,00 0 Researchers: Profs. Wu Chi and Leung Ping-chun g • Analysis of the Various Sectors on Their Views on the Mathematics Curriculum Sponsor fa : Educatio n Departmen t Amount awarded: HK$498,75 0 Researchers'. Profs. Wong Ngai-ying, Lam Chi-chung, and Wong Ka-min g • Th e Hong Kong Drama Programme of Sir Run Run Shaw Hall was awarded a grant of HK$130,000 by the Arts Development Council for the publication of the journal Hong Kong Drama Volume I. • Prof . Cha n Hsia o Chang , edito r o f Exocrine Physiology, wa s awarde d a Scienc e Publication Gran t o f Rmb49,00 0 b y th e Chines e Academ y o f Science s fo r th e publication o f the book by the Science Press (Beijing) .