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Are Boards Sensitive to CEO Masculinity? The Effect of CEO Facial and Vocal Masculinity on CEO Dismissal

Year: 2024

Type: article

Abstract: Drawing on evolutionary psychology theorizing, this paper examines how chief executive officer (CEO) facial and vocal masculinity – as evolved biases shaping peoples’ perceptions of an individual’s leadership ability – influence boards’ dismissal decisions. Specifically, we theorize that boards are likely to perceive CEO facial and vocal masculinity as costly to the firm, as they signal aggression, dominance, and risk‐taking – traits that are only valued in the narrow context of conflict. Based on this reasoning, we argue that CEO facial and vocal masculinity will be positively related to CEO dismissal. Further, we develop contingency arguments which suggest that CEO facial and vocal masculinity will interact with analysts’ evaluation of firm performance to jointly influence CEO dismissal. We test and find support for our predictions using a panel dataset of CEOs from S&P 1500 firms.

Source: Journal of Management Studies

DOI: 10.1111/joms.13159

Authors: Matthew P. Mount, Wen Hua Sharpe, Karen M. Y. Lai, Ferdinand A. Gul

Institutions: The University of Adelaide, University of the Sunshine Coast, Shenzhen University, Shenzhen Audencia Financial Technology Institute

Language: English

Topic: Gender Diversity and Inequality

Subfield: Gender Studies

Field: Social Sciences

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W4404115040

FWCI: 2.977

Cites: 89

Cited by: 4

Related to: 10