An Analysis of the Relationship between Managerial Appearance and Corporate Behavior

Abstract

There are also many studies that suggest that the characteristics of managers, such as theirbackground, orientation, and age, have some influence on the performance and behavior of companies. Inthis paper, we analyze the relationship between managerial face and corporate behavior, especially R&Dinvestment, after focusing on face as one of the important components of appearance. We classified the facetypes of managers into several patterns and analyzed the impact of these types on corporate behavior.as aresult, it was confirmed that managers classified in one cluster tend to invest more actively in R&D thanthose classified in the other clusters.