This paper shows the relation between CEO ownership and firm valuation hinges critically on the strength of external governance (EG). The relation is hump-shaped when EG is weak, but is insignificant when EG is strong. The results imply that CEO ownership and EG are substitutes for mitigating...

Previous studies show migrants are generally healthier than the populations in receiving societies, a result generally attributed to the positive selection of migrants on health. This hypothesis, however, has not been adequately evaluated due to lack of adequate data. In this article, using...