Using a quasi-natural experiment and various measures of competition intensity, we examine whether an increase in product market competition is a key driver of firm cash holdings. We find that firms increase cash holdings when competition is intense. We also evaluate if changes in cash holdings...

What is the effect of urban expansion on the gender wage gap of rural residents? Although much is known about the relationship between urbanization and income, little evidence shows the impact of urbanization on gender inequality, especially the important questions of how and why women respond...

A candidate for political office has private information about his and his rival's qualifications. A more informative positive (negative) campaign generates a more accurate public signal about his own (his rival's) qualifications, but costs more. A high type candidate has a comparative advantage...

This paper examines implications of complexity cost in implementing repeated game strategies through networks with finitely many classifiers. A network consists of individual classifiers that summarize the history of repeated play according to a weighted sum of the empirical frequency of the...

This study examines how different components of executive compensation affect the cost of debt. We find that debt-like and equity-like pay components have differing effects: an increase in defined benefit pensions is associated with lower bond yield spread, while higher share holdings lead to...

Soil erosion is very pronounced during late winter and early spring when frozen soil thaws in the Loess Plateau region of China. The alternation action of seasonal freeze-thaw and wind erosion provide sufficient material sources for water erosion. To quantify the effect of freeze-thaw, wind...

For preparing superhydrophobic-superoleophilic anisotropic polypropylene (iPP) microporous membranes, a modified method namely introduced a facile peeling procedure to a synergistic operation of micromolding and thermally induced phase separation (TIPS) was developed. This method mainly involves...