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Drawing on in\u2010depth interviews with fifty Chinese professionals in Australia's Big Four firms, we examine how race shapes the recognition and conversion of economic, cultural and social capital in White\u2010dominant organisations. Participants possessed substantial resources that enabled entry, mobility and strategic action, yet those resources did not convert on equivalent terms. Their capital could be dismissed, discounted or confined. We conceptualise this process as racialised conditional capital conversion and identify five mechanisms operating across micro, meso and macro levels. The analysis shows that racialisation need not prevent capital conversion or professional advancement altogether. Instead, it can shape the rates, routes and limits through which capital is recognised and valued. By theorising conditional conversion, the study extends Bourdieusian accounts of capital and explains how mobility and racial inequality can coexist within elite organisations.<\/jats:p>","DOI":"10.1111\/1468-4446.70177","type":"journal-article","created":{"date-parts":[[2026,10,2]],"date-time":"2026-10-02T17:00:52Z","timestamp":1790960452000},"update-policy":"https:\/\/doi.org\/10.1002\/crossmark_policy","source":"Crossref","is-referenced-by-count":0,"title":["Racialised Conditional Capital Conversion: Race, Class and the Limits of Recognition in Elite Organisations"],"prefix":"10.1111","author":[{"ORCID":"https:\/\/orcid.org\/0009-0000-5674-8059","authenticated-orcid":false,"given":"Christine","family":"Han","sequence":"first","affiliation":[{"name":"Business School The University of Sydney  Darlington New South Wales Australia"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-8672-9534","authenticated-orcid":false,"given":"Mustafa F.","family":"\u00d6zbilgin","sequence":"additional","affiliation":[{"name":"Brunel University of London  London UK"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-4890-8216","authenticated-orcid":false,"given":"Dimitria","family":"Groutsis","sequence":"additional","affiliation":[{"name":"Business School The University of Sydney  Darlington New South Wales Australia"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0001-8667-8872","authenticated-orcid":false,"given":"Betina","family":"Szkudlarek","sequence":"additional","affiliation":[{"name":"Business School The University of Sydney  Darlington New South Wales Australia"}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"311","published-online":{"date-parts":[[2026,10,2]]},"reference":[{"key":"e_1_2_15_2_1","doi-asserted-by":"publisher","DOI":"10.1177\/0263276403206002"},{"key":"e_1_2_15_3_1","doi-asserted-by":"crossref","DOI":"10.1215\/9780822395324","volume-title":"On Being Included: Racism and Diversity in Institutional Life","author":"Ahmed S.","year":"2012"},{"key":"e_1_2_15_4_1","doi-asserted-by":"publisher","DOI":"10.1111\/1468\u20104446.12150"},{"key":"e_1_2_15_5_1","doi-asserted-by":"publisher","DOI":"10.1111\/j.1467\u20108551.2010.00734.x"},{"key":"e_1_2_15_6_1","volume-title":"On Not Speaking Chinese: Living Between Asia and the West","author":"Ang I.","year":"2001"},{"key":"e_1_2_15_7_1","doi-asserted-by":"publisher","DOI":"10.1080\/07256868.2022.2105311"},{"key":"e_1_2_15_8_1","doi-asserted-by":"publisher","DOI":"10.1016\/s0361\u20103682(02)00030\u20102"},{"key":"e_1_2_15_9_1","doi-asserted-by":"publisher","DOI":"10.1177\/0950017015621480"},{"key":"e_1_2_15_10_1","unstructured":"Australian Bureau of Statistics.2023. \u201cPermanent Migrants in Australia: Characteristics of Permanent Migrants Who Arrived in Australia Between 1 January 2000 and 10 August 2021.\u201dhttps:\/\/www.abs.gov.au\/statistics\/people\/people\u2010and\u2010communities\/permanent\u2010migrants\u2010australia\/latest\u2010release."},{"key":"e_1_2_15_11_1","volume-title":"Australia in the Asian Century","author":"Australian Government","year":"2012"},{"key":"e_1_2_15_12_1","doi-asserted-by":"publisher","DOI":"10.1177\/01492063231205294"},{"key":"e_1_2_15_13_1","doi-asserted-by":"publisher","DOI":"10.1017\/s1742058x13000283"},{"key":"e_1_2_15_14_1","volume-title":"\u571f\u6fb3 or TuAo: Is a Chinese Popular Term for Australia Affectionate or Condescending?","author":"Birtles B.","year":"2017"},{"key":"e_1_2_15_15_1","volume-title":"Racism Without Racists: Color\u2010Blind Racism and the Persistence of Racial Inequality in America","author":"Bonilla\u2010Silva E.","year":"2022"},{"key":"e_1_2_15_16_1","first-page":"241","volume-title":"Handbook of Theory and Research for the Sociology of Education","author":"Bourdieu P.","year":"1986"},{"key":"e_1_2_15_17_1","doi-asserted-by":"crossref","DOI":"10.1515\/9781503621749","volume-title":"The Logic of Practice","author":"Bourdieu P.","year":"1990"},{"key":"e_1_2_15_18_1","doi-asserted-by":"crossref","DOI":"10.1215\/9781478007098","volume-title":"Intersectionality as Critical Social Theory","author":"Collins P. 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