• Dr. Meghna Dangi

Research indicates that financial policies of firms are associated with observable CEO characteristics one of them being their masculinity. Establishing Facial width to height ratio as a proxy for the same, this paper aims to measure the relationship between the two. While a number of studies have been conducted globally to measure this relationship, any such study could not be found by the researchers in Indian context. The research paper shall obtain information regarding the CEOs fWHR across various industries and find out if there are any differences existing between and within different sectors with respect to the fWHR and financial policies of the firm and thereby its performance. While financial policies which are taken in consideration relate to leverage and cash holdings, firm performance is measured by taking Return on Assets (ROA) and Return on Capital Employed ratios (ROCE). The demographic parameter age will be kept as the control variable. The data is obtained from secondary sources like the Bloomberg Terminal and CapitaLine Database. Statistical techniques of regression analysis and appropriate tests are applied to test the hypothesis. This paper is an attempt to contribute to an area of corporate finance literature which shows that observable CEO characteristics can have a significant influence on financial management decisions.

fWHR, CEO, Firm Performance, ROA, ROCE

"FACIAL WIDTH TO HEIGHT RATIO AND FIRM PERFORMANCE: A STUDY OF INDIAN CEOS", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.10, Issue 12, page no.b316-b321, December-2023, Available :http://www.jetir.org/papers/JETIR2312137.pdf

"FACIAL WIDTH TO HEIGHT RATIO AND FIRM PERFORMANCE: A STUDY OF INDIAN CEOS", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.10, Issue 12, page no. ppb316-b321, December-2023, Available at : http://www.jetir.org/papers/JETIR2312137.pdf