Reference : The CEO beauty premium: Founder CEO attractiveness and firm valuation in initial coin...
Scientific journals : Article
Business & economic sciences : Strategy & innovation
Entrepreneurship and Innovation / Audit
http://hdl.handle.net/10993/50155
The CEO beauty premium: Founder CEO attractiveness and firm valuation in initial coin offerings
English
Colombo, Massimo []
Fisch, Christian mailto [University of Luxembourg > Interdisciplinary Centre for Security, Reliability and Trust (SNT) > Entrepreneurship, Innovation, and New Technology (EINT) >]
Momtaz, Paul []
Vismara, Silvio []
In press
Strategic Entrepreneurship Journal
John Wiley & Sons
Yes (verified by ORBilu)
1932-4391
1932-443X
Hoboken
NJ
[en] Beauty premium ; CEO attractiveness ; entrepreneurial finance ; firm valuation ; initial coin offering ; token offering
[en] We apply insights from research in social psychology and labor economics to the domain of entrepreneurial finance and investigate how founder chief executive officers' (founder CEOs') facial attractiveness influences firm valuation. Leveraging the novel context of initial coin offerings (ICOs), we document a pronounced founder CEO beauty premium, with a positive relationship between founder CEO attractiveness and firm valuation. We find only very limited evidence of stereotype-based evaluations, through the association of founder CEO attractiveness with latent traits such as competence, intelligence, likeability, or trustworthiness. Rather, attractiveness seems to bear economic value per se, especially in a context in which investors base their decisions on a limited information set. Indeed, attractiveness has a sustainable effect on post-ICO performance.
http://hdl.handle.net/10993/50155
10.1002/sej.1417

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(2022, SEJ) Colombo et al. - The CEO beauty premium - founder CEO attractiveness and firm valuation in initial coin offerings (ICOs).pdfPublisher postprint3.73 MBView/Open

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