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...

We find that firms winning Green Company Awards in China from 2008 to 2011 experienced on average insignificant and in some cases significantly negative effects on shareholder value. Various robustness checks suggest that these findings are not driven by the inefficiency of the Chinese stock...

The existing literature has often underscored the “healthy migrant” effect and the “salmon bias” in understanding the health of migrants. Nevertheless, direct evidence for these two hypotheses, particularly the “salmon bias,” is limited. Using data from a national longitudinal survey...

An extensive literature demonstrates various negative health consequences of family disruption in Western societies, which is largely due to marital dissolution. In developing settings, family disruption commonly arises in the context of labor out-migration. However, studies on household...

Previous studies on the impact of migration on health often face the difficulties of choosing the proper comparison group and addressing potential selection of migration. Using longitudinal data for 1997 and 2000 from Indonesia, this paper examines the effect of rural-urban migration on physical...

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...

type="main" <title type="main">ABSTRACT</title> <p>Firms initiating broad-based employee share ownership plans often claim employee stock ownership plans (ESOPs) increase productivity by improving employee incentives. Do they? Small ESOPs comprising less than 5% of shares, granted by firms with moderate employee size,...</p>

In a series of individual presentations and a follow-up set of exchanges, a group of academics and corporate practitioners discuss current problems with the Japanese corporate governance system and the potential role of EVA in addressing them. Professor Tak Wakasugi of Tokyo University...

In the last months of 1997, the value of the Korean currency lost over half its value against the dollar, and the ruling party was swept from power in presidential elections. One of the fundamental causes of this national economic crisis was the widespread failure of Korean companies to earn...