This paper develops a general framework to analyze the relationship between a firm's capital structure and its product market strategy and presents a taxonomy of whether debt makes a firm {\it tough} or {\it soft} in product market competition and how strategic considerations affect the leverage...

This study examines whether competitive experience affects gender difference in the economic preference and academic performance. By utilizing the provincial differences in college admission rates as an indication of competitive experience for students, we assess the effects on risk preference,...

This paper examines how female and male examination performance are differentially affected by the degree of competitive pressure faced. Our setting is China's National College Entrance Exam (Gaokao) which is widely regarded as the world's most competitive exam. We show that compared to male...