CEO facial masculinity and bank risk-taking

Shaker Ahmed; Jukka Sihvonen; Sami Vähämaa

doi:10.1016/j.paid.2018.09.029

CEO facial masculinity and bank risk-taking

Shaker Ahmed
, Jukka Sihvonen
, Sami Vähämaa^*

^*Tämän työn vastaava kirjoittaja

Laskentatoimen ja yritysjuridiikan laitos

University of Vaasa

Tutkimustuotos: Lehtiartikkeli › Article › Scientific › vertaisarvioitu

50 Sitaatiot (Scopus)

Abstrakti

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.

Alkuperäiskieli	Englanti
Sivut	133-139
Sivumäärä	7
Julkaisu	Personality and Individual Differences
Vuosikerta	138
DOI - pysyväislinkit	https://doi.org/10.1016/j.paid.2018.09.029
Tila	Julkaistu - 1 helmik. 2019
OKM-julkaisutyyppi	A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä

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10.1016/j.paid.2018.09.029

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3186072Lisenssi: CC BY-NC-ND

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title = "CEO facial masculinity and bank risk-taking",

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.",

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

author = "Shaker Ahmed and Jukka Sihvonen and Sami V{\"a}h{\"a}maa",

year = "2019",

month = feb,

day = "1",

doi = "10.1016/j.paid.2018.09.029",

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T1 - CEO facial masculinity and bank risk-taking

AU - Ahmed, Shaker

AU - Sihvonen, Jukka

AU - Vähämaa, Sami

PY - 2019/2/1

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N2 - 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.

AB - 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.

KW - Bank risk-taking

KW - CEO masculinity

KW - Facial width-to-height ratio

KW - fWHR

KW - Testosterone

UR - https://www.scopus.com/pages/publications/85054010229

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DO - 10.1016/j.paid.2018.09.029

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SN - 0191-8869

VL - 138

SP - 133

EP - 139

JO - Personality and Individual Differences

JF - Personality and Individual Differences

ER -

CEO facial masculinity and bank risk-taking

Abstrakti

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