Can CEOs’ Facial Attractiveness Influence Philanthropic Behavior? Evidence from India
研究了CEO面部吸引力通过平等主义价值观对企业慈善的间接影响，发现更吸引人的CEO因平等主义价值观较低而较少投入慈善，且家族所有权和控制权会调节这一关系。
ABSTRACT This study extends the extant literature on corporate philanthropy by exploring the indirect effect of physical attractiveness of CEOs on corporate philanthropy under conditional effects of family ownership and control. Recent empirical studies in psychology suggest that egalitarian values are negatively related to physical attractiveness. Based on these findings, we propose that physically attractive CEOs invest less in corporate philanthropic activities than less attractive peers as they have lower egalitarian values. Leveraging upper echelons and stewardship theory, we further consider the moderating impact of family ownership and control on the indirect relationship between the physical attractiveness of a CEO and philanthropy mediated through egalitarianism.