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

Lookup NU author(s): Dr Saurabh BhattacharyaORCiD



This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License (CC BY-NC-ND).


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.

Publication metadata

Author(s): Agnihotri A, Bhattacharya S

Publication type: Article

Publication status: Published

Journal: Management and Organization Review

Year: 2021

Volume: 17

Issue: 1

Pages: 112-142

Print publication date: 01/02/2021

Online publication date: 10/12/2020

Acceptance date: 27/06/2020

Date deposited: 28/06/2020

ISSN (print): 1740-8776

ISSN (electronic): 1740-8784

Publisher: Cambridge University Press


DOI: 10.1017/mor.2020.38


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