The Role of Facial Appearance on CEO Selection After Firm Misconduct

• 成果类型: Article
• 署名作者: Gomulya, David; Wong, Elaine M.; Ormiston, Margaret E.; Boeker, Warren
• 署名单位: Nanyang Technological University; University of California System; University of California Riverside; George Washington University; University of Washington; University of Washington Seattle
• 刊物名称: JOURNAL OF APPLIED PSYCHOLOGY
• ISSN/ISSBN: 0021-9010
• DOI: 10.1037/apl0000172
• 发表日期: 2017
• 页码: 617-635
• 关键词: CEO succession; leader selection; facial appearance; firm misconduct; CEO integrity

摘要

We investigate a particular aspect of CEO successor trustworthiness that may be critically important after a firm has engaged in financial misconduct. Specifically, drawing on prior research that suggests that facial appearance is one critical way in which trustworthiness is signaled, we argue that leaders who convey integrity, a component of trustworthiness, will be more likely to be selected as successors after financial restatement. We predict that such appointments garner more positive reactions by external observers such as investment analysts and the media because these CEOs are perceived as having greater integrity. In an archival study of firms that have announced financial restatements, we find support for our predictions. These findings have implications for research on CEO succession, leadership selection, facial appearance, and firm misconduct.