This paper addresses the question of why firms pay dividends, the so-called "dividend puzzle", from the agency perspective. We outline two agency models of dividends. On what we call "the outcome" model, dividends are the result of effective pressure by minority shareholders to force corporate...

One of the standard proposition in the migration literature is that migrants tend to be favorably "self-selected" for labor market sucess. In recent years there have been challenges to the general proposition of the favorable selectivity of migrants. In addressing this issue this paper first...