CEO facial masculinity and bank risk-taking

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A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä
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Authors

Date

2019-02-01

Department

University of Vaasa
Department of Accounting

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Mcode

Degree programme

Language

en

Pages

7
133-139

Series

Personality and Individual Differences, Volume 138

Abstract

This paper uses Chief Executive Officer (CEO) facial features to examine the association between CEO masculinity and bank risk-taking. Given that high facial width-to-height ratio has been linked to high testosterone levels and masculine behavioral traits such as increased risk tolerance, aggression, and sensation seeking, we postulate a positive relationship between CEO facial masculinity and bank risk-taking. Consistent with this prediction, we document that banks led by CEOs with more masculine facial features are associated with more volatile stock returns and higher levels of idiosyncratic risk.

Description

Keywords

Bank risk-taking, CEO masculinity, Facial width-to-height ratio, fWHR, Testosterone

Other note

DOI

10.1016/j.paid.2018.09.029

Citation

Ahmed , S , Sihvonen , J & Vähämaa , S 2019 , ' CEO facial masculinity and bank risk-taking ' , Personality and Individual Differences , vol. 138 , pp. 133-139 . https://doi.org/10.1016/j.paid.2018.09.029

Permanent link to this item

https://urn.fi/URN:NBN:fi:aalto-201810165409

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