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.

中文翻译：

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CEO的面部吸引力会影响慈善行​​为吗？来自印度的证据

本研究通过探索在家族所有权和控制权的条件效应下 CEO 的外貌吸引力对企业慈善事业的间接影响，扩展了现有的关于企业慈善事业的文献。最近的心理学实证研究表明，平等主义价值观与身体吸引力呈负相关。基于这些研究结果，我们建议长得漂亮的 CEO 比不那么有吸引力的同行在企业慈善活动上的投资更少，因为他们的平等主义价值观较低。利用高层管理理论和管理理论，我们进一步考虑了家族所有权和控制权对 CEO 的身体吸引力与通过平等主义介导的慈善事业之间的间接关系的调节影响。