| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 11028792 | Personality and Individual Differences | 2019 | 7 Pages |
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.
Related Topics
Life Sciences
Neuroscience
Behavioral Neuroscience
Authors
Shaker Ahmed, Jukka Sihvonen, Sami Vähämaa,