I had thought that having a Chag Hasemikhah for new musmachim was a RIETS/ YU thing, but recently learned that many other Yeshivot also have a Chag Hasemikhah (for example, see: Landers, Chabad, Kollel Ayshel Avraham, Choshen Mishpat Institute etc).

When did the practice of having a Chag Hasemikhah originate, and what was the reason for it?

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