Female Leadership, Attractiveness, and Corporate Philanthropy

凌崚，博士，美国Georgia College and State University金融学教授。研究领域有公司金融、共同基金、行为经济和金融等。所著论文发表在China Economic Review, The Review of Financial Studies, Accounting and Finance, Journal of Economic Behavior and Organizations, The Quarterly Review of Economics and Finance, Journal of Financial Markets, Research in International Business and Finance等多个国际学术期刊。

Integrating institutional theory and the Upper Echelons theory with research on gender inequality, beauty effects, and corporate philanthropy, we argue that attractive female CEOs may fear their attractiveness undermines their perceived competence. To counteract such biases, they engage in corporate philanthropy to demonstrate compassion and care—qualities aligned with broader expectations of effective leadership. Our findings reveal that attractive female CEOs engage more actively in corporate philanthropy, donating larger amounts than their less attractive peers, particularly in regions with stronger gender stereotypes and less market-driven economies.