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Can CEOs’ Facial Attractiveness Influence Philanthropic Behavior? Evidence from India

Published online by Cambridge University Press:  10 December 2020

Arpita Agnihotri  and
Saurabh Bhattacharya
Arpita Agnihotri*
Affiliation:
Penn State Harrisburg, USA
Saurabh Bhattacharya
Affiliation:
Newcastle University, UK
*
Corresponding author: Arpita Agnihotri (axa671@psu.edu)
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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.

摘要

摘要

本研究探讨首席执行官的身体吸引力在家庭所有制和控制的条件下对于公司慈善行为的间接效应，从而拓展公司慈善事业的文献。近期心理学的实证研究表明平等的价值观与身体吸引力呈负相关。基于这些发现，我们提出具有外表吸引力的首席执行官比不太具有吸引力的首席执行官更少地投入公司慈善事业活动，因为他们具有更低的平等价值观。运用高阶理论和管家理论，我们进一步考虑家庭所有制和控制对于首席执行官的外表吸引力通过平等价值观影响慈善行为所产生的调节效应。

Аннотация

АННОТАЦИЯ

Данное исследование вносит свой вклад в существующую литературу по корпоративной благотворительности и изучает косвенное влияние физической привлекательности руководителей на корпоративную благотворительность в условиях семейной собственности и контроля. Недавние эмпирические исследования в психологии показывают, что ценности равноправия отрицательно связаны с физической привлекательностью. На основании этих выводов, мы предполагаем, что физически привлекательные генеральные директора вкладывают меньше усилий в корпоративную благотворительную деятельность, чем их менее привлекательные коллеги, поскольку для них менее важны ценности равноправия. Используя теорию управления высшего звена, мы далее рассматриваем регулирующее влияние семейной собственности и контроля на косвенную зависимость между физической привлекательностью генерального директора и благотворительностью, которая опосредована равноправием.

Resumen

RESUMEN

Este estudio extiende la literatura existente sobre filantropía corporativa al explorar el efecto indirecto del atractivo físico de los directores ejecutivos (CEOs por sus iniciales en inglés) en la filantropía corporativa bajo los efectos condicionales de la propiedad y el control de la familia. Estudios empíricos recientes en psicología sugieren que los valores igualitarios están relacionados negativamente con el atractivo físico. Basándonos en estos hallazgos, proponemos que los directores ejecutivos físicamente atractivos inviertan menos en actividades filantrópicas corporativas que los pares menos atractivos, ya que tienen valores igualitarios más bajos. Aprovechando la teoría de los escalones superiores y la teoría del servidor, consideramos además el impacto moderador de la propiedad y el control de la familia en la relación indirecta entre el atractivo físico de un director ejecutivo y la filantropía mediada a través del igualitarismo.

Keywords

corporate philanthropyegalitarian valuefamily controlfamily ownershipphysical attractiveness企业慈善事业平等价值观家庭控制家庭所有制外表吸引力корпоративная благотворительностьценности равноправиясемейный контрольсемейная собственностьфизическая привлекательностьfilantropía corporativavalor igualitariocontrol familiarpropiedad familiaratractivo físico
Type
Article
Information
Management and Organization Review , Volume 17 , Issue 1 , February 2021 , pp. 112 - 142
Copyright
Copyright © 2020 The International Association for Chinese Management Research

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Footnotes

ACCEPTED BY Deputy Editor Sai Yayavaram

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